TiVo (NASDAQ:TIVO) Shares Down 7.6%

TiVo Corp (NASDAQ:TIVO) shares were down 7.6% during trading on Friday . The stock traded as low as $7.72 and last traded at $7.74, approximately 934,018 shares traded hands during mid-day trading. A decline of 3% from the average daily volume of 961,266 shares. The stock had previously closed at $8.38.

Several equities research analysts recently commented on TIVO shares. Zacks Investment Research raised shares of TiVo from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research report on Wednesday, November 6th. B. Riley reissued a “buy” rating and set a $19.00 price target on shares of TiVo in a research report on Wednesday. ValuEngine raised shares of TiVo from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub raised shares of TiVo from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.25.

The firm’s 50-day simple moving average is $7.87 and its 200 day simple moving average is $7.58. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.11. The stock has a market capitalization of $1.06 billion, a P/E ratio of 15.49 and a beta of 0.13.

TiVo (NASDAQ:TIVO) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.11). TiVo had a positive return on equity of 2.04% and a negative net margin of 71.94%. The business had revenue of $158.52 million for the quarter, compared to the consensus estimate of $149.68 million. As a group, research analysts expect that TiVo Corp will post 0.66 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in shares of TiVo by 442.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,157,221 shares of the technology company’s stock valued at $37,028,000 after purchasing an additional 4,206,268 shares during the period. Rhumbline Advisers raised its holdings in shares of TiVo by 6.8% in the 3rd quarter. Rhumbline Advisers now owns 401,965 shares of the technology company’s stock valued at $3,061,000 after purchasing an additional 25,507 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of TiVo by 74.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 435,309 shares of the technology company’s stock valued at $3,317,000 after purchasing an additional 185,854 shares during the period. Mackay Shields LLC raised its holdings in shares of TiVo by 384.2% in the 3rd quarter. Mackay Shields LLC now owns 325,400 shares of the technology company’s stock valued at $2,478,000 after purchasing an additional 258,200 shares during the period. Finally, Lapides Asset Management LLC bought a new stake in shares of TiVo in the 3rd quarter valued at about $292,000. 89.19% of the stock is currently owned by hedge funds and other institutional investors.

About TiVo (NASDAQ:TIVO)

TiVo Corporation provides media and entertainment products for the consumer entertainment industry worldwide. The company operates in two segments, Product and Intellectual Property Licensing. The Product segment offers platform solutions, such as TiVo Service Platform, a cloud-based service that powers the TiVo Service client software, which operates on set-top boxes in consumer homes, as well as applications that operate on third party software platforms, such as iOS and Android; user experience solutions that allow service providers to customize elements of the interactive program guides for their customers, as well as to upgrade their programming features and services under the G-GUIDE brand; and CubiTV and TiVo Lite middleware solutions for pay TV service providers comprising cable, satellite, terrestrial, and telecommunications operators.

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