Quarterhill (QTRH) Given “Buy” Rating at Canaccord Genuity

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Canaccord Genuity reaffirmed their buy rating on shares of Quarterhill (NASDAQ:QTRH) in a research report sent to investors on Friday morning. Canaccord Genuity currently has a $2.00 price objective on the stock.

Several other brokerages have also recently issued reports on QTRH. ValuEngine raised Quarterhill from a hold rating to a buy rating in a research report on Tuesday, September 4th. Zacks Investment Research raised Quarterhill from a sell rating to a hold rating in a research report on Thursday, July 12th.

NASDAQ:QTRH traded down $0.05 on Friday, hitting $1.21. The stock had a trading volume of 200,553 shares, compared to its average volume of 31,847. The stock has a market capitalization of $148.52 million, a price-to-earnings ratio of 2.33 and a beta of 1.17. Quarterhill has a 52-week low of $1.01 and a 52-week high of $2.06.

Quarterhill (NASDAQ:QTRH) last announced its earnings results on Thursday, November 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.07). The firm had revenue of $19.58 million during the quarter. Quarterhill had a positive return on equity of 16.50% and a negative net margin of 4.30%. As a group, equities analysts forecast that Quarterhill will post -0.15 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 9th. Shareholders of record on Friday, December 14th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 3.31%. This is a boost from Quarterhill’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, December 13th. Quarterhill’s dividend payout ratio (DPR) is presently 7.69%.

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its holdings in shares of Quarterhill by 39.4% in the third quarter. Acadian Asset Management LLC now owns 1,021,000 shares of the company’s stock valued at $1,429,000 after buying an additional 288,463 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Quarterhill by 14.7% in the second quarter. Renaissance Technologies LLC now owns 1,736,331 shares of the company’s stock valued at $1,927,000 after buying an additional 222,831 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Quarterhill by 6.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,253,395 shares of the company’s stock valued at $6,941,000 after buying an additional 359,925 shares during the period. 11.83% of the stock is currently owned by institutional investors and hedge funds.

Quarterhill Company Profile

Quarterhill Inc focuses on acquisition and management of technology companies that provides products and services worldwide. Its Technology segment licenses patent technologies to approximately 355 companies. Its patent portfolios include patents relating to 3D television, phased loop semiconductor, semiconductor manufacturing and packaging, medical stent, intelligent personal assistant, streaming video, semiconductor clocking, LED lighting, smart meter monitoring, non-volatile flash memory and other memory, building automation, enhanced image processing, computer gaming, and various other technologies; automotive headlight assemblies, microcontrollers applicable to safety-critical aerospace, and CMOS image sensors; and medical, industrial, and automotive applications.

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