Report
Andrew Lange
EUR 147.86 For Business Accounts Only

TiVo's IP licensing business will sustain the firm's excess returns on invested capital.

Rovi reported decent second-quarter results with revenue down 2% on a year over year basis owing to a tough comparable period and continued declines in its more legacy-type Consumer Electronics and Analog Content Protection businesses. Still, on a positive note, the firm’s recent intellectual property, or IP, licensing renewal with Verizon helped boost the company’s important Service Provider business during the quarter. We will maintain our $20 fair value estimate. We think the firm is trading ...
Underlying
TiVo Corp.

TiVo is engaged in media and entertainment products. The company provides a set of cloud-based services, embedded software solutions and intellectual property that enable people to find and enjoy online video, television programming, movies and music entertainment, including content discovery through device-embedded and cloud-based user experience, interactive program guides, digital video recorders, natural language voice and text search, cloud-based recommendations services and the company's entertainment metadata. The company's operations are organized into two reportable segments: Product and Intellectual Property Licensing.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Andrew Lange

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