California Public Employees Retirement System Increases Position in TiVo Corp (TIVO)
California Public Employees Retirement System lifted its holdings in TiVo Corp (NASDAQ:TIVO) by 1.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 292,684 shares of the technology company’s stock after purchasing an additional 3,400 shares during the period. California Public Employees Retirement System owned approximately 0.24% of TiVo worth $5,810,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in TIVO. Teachers Advisors LLC grew its holdings in shares of TiVo by 422.1% in the second quarter. Teachers Advisors LLC now owns 1,076,095 shares of the technology company’s stock valued at $20,069,000 after purchasing an additional 869,972 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of TiVo by 7.1% in the second quarter. Ameriprise Financial Inc. now owns 8,950,144 shares of the technology company’s stock valued at $166,918,000 after purchasing an additional 590,818 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of TiVo by 68.3% in the second quarter. TIAA CREF Investment Management LLC now owns 553,601 shares of the technology company’s stock valued at $10,325,000 after purchasing an additional 224,729 shares in the last quarter. Northern Trust Corp grew its holdings in shares of TiVo by 9.5% in the second quarter. Northern Trust Corp now owns 2,258,542 shares of the technology company’s stock valued at $42,121,000 after purchasing an additional 195,644 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of TiVo by 1.7% in the second quarter. Vanguard Group Inc. now owns 11,128,544 shares of the technology company’s stock valued at $207,547,000 after purchasing an additional 182,567 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Several research firms have commented on TIVO. Zacks Investment Research cut shares of TiVo from a “hold” rating to a “strong sell” rating in a report on Friday. B. Riley cut shares of TiVo from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $24.00 to $18.00 in a report on Wednesday, December 13th. Piper Jaffray Companies reiterated a “buy” rating and set a $25.00 price target on shares of TiVo in a report on Friday, November 3rd. ValuEngine upgraded shares of TiVo from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Jefferies Group reiterated a “buy” rating and set a $18.00 price target on shares of TiVo in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.75.
TiVo (NASDAQ:TIVO) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.07). TiVo had a positive return on equity of 4.72% and a negative net margin of 5.39%. The firm had revenue of $197.90 million for the quarter, compared to analyst estimates of $190.83 million. During the same quarter last year, the firm earned $0.59 EPS. The company’s revenue was up 29.3% on a year-over-year basis. equities analysts forecast that TiVo Corp will post 1.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Tuesday, December 5th. TiVo’s dividend payout ratio (DPR) is presently -184.62%.
In other news, CEO Enrique Rodriguez purchased 55,974 shares of the stock in a transaction on Friday, December 1st. The stock was bought at an average price of $17.86 per share, for a total transaction of $999,695.64. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.57% of the company’s stock.
TiVo Corporation is engaged in offering media and entertainment products. The Company operates through two segments: Intellectual Property Licensing and Product. The Company’s Product segment includes a suite of component technologies that can be integrated into media service provider internally developed platforms or deployed as an integrated TiVo solution.
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