Quarterhill (NASDAQ:QTRH) posted its quarterly earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.07), Morningstar.com reports. Quarterhill had a negative net margin of 4.30% and a positive return on equity of 16.50%. The firm had revenue of $19.58 million for the quarter.
QTRH stock traded down $0.05 during trading on Friday, reaching $1.21. 200,553 shares of the stock traded hands, compared to its average volume of 31,847. Quarterhill has a 52-week low of $1.01 and a 52-week high of $2.06. The company has a market cap of $148.52 million, a PE ratio of 2.33 and a beta of 1.17.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 9th. Shareholders of record on Friday, December 14th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, December 13th. This is an increase from Quarterhill’s previous quarterly dividend of $0.01. Quarterhill’s payout ratio is 7.69%.
A number of research firms have issued reports on QTRH. ValuEngine downgraded Quarterhill from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Canaccord Genuity reissued a “buy” rating and set a $2.00 price target on shares of Quarterhill in a research report on Friday.
A number of hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its position in Quarterhill by 6.1% during 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 acquiring an additional 359,925 shares during the period. Renaissance Technologies LLC boosted its position 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 worth $1,927,000 after buying an additional 222,831 shares during the period. Finally, Acadian Asset Management LLC boosted its position 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 worth $1,429,000 after buying an additional 288,463 shares during the period. 11.83% of the stock is owned by hedge funds and other institutional investors.
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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