Rovi Corp. (ROVI) Trading Up 3.4%
Shares of Rovi Corp. (NASDAQ:ROVI) were up 3.4% on Friday . The company traded as high as $21.31 and last traded at $21.29, with a volume of 1,354,980 shares trading hands. The stock had previously closed at $20.58.
A number of analysts have recently weighed in on ROVI shares. B. Riley reissued a “buy” rating and set a $29.00 price objective on shares of Rovi Corp. in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $29.00 price target on shares of Rovi Corp. in a research note on Thursday, May 12th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $34.00 price target on shares of Rovi Corp. in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.00.
The company’s 50-day moving average is $19.68 and its 200 day moving average is $18.61. The stock’s market capitalization is $1.77 billion.
Rovi Corp. (NASDAQ:ROVI) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.08. The firm earned $125.20 million during the quarter, compared to the consensus estimate of $119.31 million. During the same period in the previous year, the firm earned $0.04 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Rovi Corp. will post $1.59 EPS for the current fiscal year.
In other Rovi Corp. news, EVP Pamela A. Sergeeff sold 1,616 shares of Rovi Corp. stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $17.93, for a total value of $28,974.88. Following the sale, the executive vice president now owns 82,390 shares of the company’s stock, valued at approximately $1,477,252.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Dustin Finer sold 2,391 shares of Rovi Corp. stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $15.70, for a total value of $37,538.70. Following the completion of the sale, the insider now directly owns 33,266 shares in the company, valued at approximately $522,276.20. The disclosure for this sale can be found here.
Rovi Corporation powers entertainment discovery and personalization through product technology and intellectual property using data and analytics to monetize interactions across various entertainment platforms. The Company’s segments include Intellectual Property Licensing and Product. The Intellectual Property Licensing segment consists of interactive program guides (IPG) patent licensing to third party guide developers, such as multi-channel video service providers (cable, satellite and Internet-protocol television), consumer electronics manufacturers, set-top box manufacturers and interactive television software and program guide providers in the online, over-the-top video and mobile phone businesses.