Quarterhill (NASDAQ:QTRH) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Quarterhill (NASDAQ:QTRH) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. They currently have $1.50 target price on the stock.

According to Zacks, “Quarterhill Inc. is a diversified investment holding company. It focused on growing its business by acquiring technology companies in the Industrial Internet of Things segment across multiple verticals. The company’s products and services capture, analyze and interpret data. Quarterhill Inc, formerly known as Wi-LAN Inc, is based in Ottawa, Canada. “

Separately, TheStreet raised shares of Quarterhill from a d+ rating to a c- rating in a report on Wednesday, July 31st.

QTRH opened at $1.30 on Thursday. The company has a quick ratio of 2.79, a current ratio of 2.61 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $1.22 and a 200-day moving average price of $1.11. Quarterhill has a twelve month low of $0.86 and a twelve month high of $1.55. The stock has a market capitalization of $158.03 million, a price-to-earnings ratio of -5.42 and a beta of 0.74.

Quarterhill (NASDAQ:QTRH) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) earnings per share for the quarter. Quarterhill had a negative net margin of 26.46% and a negative return on equity of 9.83%. The company had revenue of $42.36 million for the quarter. As a group, analysts expect that Quarterhill will post 0.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.009 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 2.77%. Quarterhill’s dividend payout ratio is currently -16.67%.

A number of hedge funds have recently made changes to their positions in the business. Sargent Investment Group LLC purchased a new stake in Quarterhill during the second quarter valued at approximately $36,000. Bank of Montreal Can increased its holdings in Quarterhill by 382.2% during the second quarter. Bank of Montreal Can now owns 67,142 shares of the company’s stock valued at $72,000 after buying an additional 53,217 shares during the last quarter. Royal Bank of Canada increased its holdings in Quarterhill by 6.9% during the second quarter. Royal Bank of Canada now owns 893,884 shares of the company’s stock valued at $965,000 after buying an additional 57,745 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Quarterhill by 3.7% during the second quarter. Renaissance Technologies LLC now owns 1,740,007 shares of the company’s stock valued at $1,879,000 after buying an additional 61,476 shares during the last quarter. 10.05% of the stock is owned by institutional investors and hedge funds.

About Quarterhill

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

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