Rovi Corp. (TIVO) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Rovi Corp. (NASDAQ:TIVO)‘s stock had its “overweight” rating reaffirmed by JPMorgan Chase & Co. in a report released on Wednesday. They currently have a $34.00 target price on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 63.46% from the company’s current price.
Several other brokerages have also weighed in on TIVO. B. Riley reissued a “buy” rating and set a $13.25 price objective on shares of Rovi Corp. in a report on Tuesday, September 13th. Albert Fried & Company reaffirmed a “hold” rating on shares of Rovi Corp. in a report on Sunday, September 11th. Zacks Investment Research raised shares of Rovi Corp. from a “sell” rating to a “hold” rating in a report on Monday, November 7th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Rovi Corp. in a report on Monday, August 15th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Rovi Corp. currently has a consensus rating of “Hold” and a consensus target price of $14.51.
Rovi Corp. (NASDAQ:TIVO) opened at 20.80 on Wednesday. Rovi Corp. has a 1-year low of $10.26 and a 1-year high of $23.70. The firm has a market cap of $2.43 billion, a P/E ratio of 35.56 and a beta of 0.61. The firm has a 50-day moving average of $20.23 and a 200 day moving average of $19.04.
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In other Rovi Corp. news, CFO Peter Halt sold 7,716 shares of the business’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $20.00, for a total transaction of $154,320.00. Following the sale, the chief financial officer now directly owns 138,412 shares in the company, valued at approximately $2,768,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tom Carson sold 166,985 shares of the business’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $21.38, for a total transaction of $3,570,139.30. Following the sale, the chief executive officer now owns 112,178 shares in the company, valued at $2,398,365.64. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in Rovi Corp. by 77.3% in the second quarter. Victory Capital Management Inc. now owns 11,930 shares of the company’s stock worth $118,000 after buying an additional 5,203 shares during the period. Boston Financial Mangement LLC acquired a new stake in Rovi Corp. during the second quarter worth approximately $118,000. Sphinx Trading LP acquired a new stake in Rovi Corp. during the second quarter worth approximately $119,000. Teacher Retirement System of Texas increased its stake in Rovi Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 13,773 shares of the company’s stock worth $136,000 after buying an additional 1,661 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in Rovi Corp. during the second quarter worth approximately $140,000. Institutional investors own 93.02% of the company’s stock.
About Rovi Corp.
TiVo Corporation, formerly Titan Technologies Corporation, is a holding company. The Company’s subsidiaries include Rovi Corporation and TiVo Inc The Company, through TiVo Inc, is engaged in providing video technology software services and cloud-based software-as-a-service solutions. TiVo Inc’s software and cloud-based services provide an approach for navigating content chaos by combining live, recorded, Video on Demand (VOD) content into an intuitive user interface with universal search, discovery, viewing and recording, and creating a unified viewing experience.
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