Roku is U.S. No.1 Smart TV Operating System; Partners with Sharp

TV streaming platform Roku, Inc. (ROKU) has claimed the no.1 spot among the best-selling smart TV operating systems (OS) in the U.S. for the second time in a row. Following the news, shares rose almost 4.5% during intraday trading on January 3, and closed the day up 2.2% at $233.19.

Don't Miss Our Christmas Offers:

Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter

Latest Development

According to the NPD’s Weekly Retail Tracking Service, Roku TV’s OS was the no.1 smart TV OS sold in the U.S. for the period January 3. 2021 to December 4, 2021.

Furthermore, Roku has partnered with Sharp Home Electronics Company of America to launch Sharp Roku TV models, featuring HD and 4K for its U.S. customers in 2022. The TV models will have Roku hardware and OS with a customizable home screen, and access to over 200 live TV channels and other channels.

Additionally, Roku also expanded its licensing program in Mexico to include a total of ten brands including Aiwa and HKPRO.

Company Comments

Roku’s GM & SVP of Account Acquisitions, Mustafa Ozgen, said, “Sharp, like Roku, is an award-winning, household known brand and we look forward to a productive partnership together in the US… We both firmly believe that the power and ease of use of Roku TV, combined with the Sharp brand promise of ‘simply better living’ makes an appealing combination for customers looking for a great TV experience.”

Jim Sanduski, President of Sharp Home Electronics Company of America, said, “Pairing our long-standing heritage in display technology with Roku’s best-in-class, easy-to-use interface is a winning combination for our consumers.”

Analysts’ View

Overall, the stock has a Moderate Buy consensus rating based on 15 Buys, 2 Holds, and 2 Sells. The average Roku price target of $362.11 implies 55.3% upside potential to current levels. However, shares have lost 26.7% over the past year.

Insider Trading

TipRanks’ Insider Trading Activity shows that Insider Signal is currently Positive on Roku, with corporate insiders selling $1.9 million shares in the last quarter.

Download the mobile app now, available on iOS and Android.