ParkerVision Inc (NASDAQ:PRKR) Gets Another Look

ParkerVision Inc (NASDAQ:PRKR) was a winner for us here at Insider Financial last year. We identified the company as a high risk/reward opportunity last February and the stock turned into a multi-bagger by the time summer came around. We haven't covered the company since then, but a number of recent events have peaked our interest and we're taking another look at this past winner.First up, for those not familiar with the company, ParkerVision, Inc. designs, develops and markets proprietary radio-frequency (RF) technologies that enable advanced wireless solutions for current and next generation communications networks. Protected by a highly-regarded, worldwide patent portfolio, the Company’s solutions for wireless transfer of RF waveforms address the needs of a broad range of wirelessly connected devices for high levels of RF performance coupled with best-in-class power consumption.What got shares moving higher last year was a settlement with Samsung over ParkerVision patents. While terms were not disclosed, it removed Samsung from a pending U.S. International Trade Commission investigation and ParkerVision dismissed its claims against Samsung in two United States District Court cases. In exchange, Samsung and its affiliates received the perpetual, worldwide license of ParkerVision’s current patent portfolio, subject to certain exclusions.Last month, PRKR's wholly-owned German subsidiary, ParkerVision GmbH, amended its complaint against Apple, Inc., Apple Distribution International and Apple Retail Germany B.V. & Co. KG adding the infringement of the German part of European Patent 1 135 853. This amended complaint also expanded the accused products to include the Apple iPhone 7 and iPhone 7 Plus which use Intel’s PMB5750 transceiver chip, which is based on Intel’s SMARTi architecture.By including the iPhone 7 and 7 Plus in the complaint, we believe it puts added pressure on Apple to settle. At the Company’s request, the Munich Regional Court bifurcated the new claims into a second case separate from the original Apple case. This second case is scheduled for a hearing on June 29, 2017. The original complaint against Apple remains scheduled for a hearing on May 4, 2017 and accuses Apple products of infringement of the German part of European patent 1 206 831 (“the ‘831 Patent”). This first case includes the iPhone 6, iPhone 6s and the iPad Air 2 devices, which incorporate Qualcomm transceivers. PRKR CEO Jeffrey Parker said:

“We continue to assert that our technology has been broadly deployed in mobile devices without our authorization, leading to the expansion of our case to include Apple’s products that incorporate Intel chips. With a number of important milestones both in the U.S and German courts occurring over the coming months, we remain committed to the achievement of equitable business resolutions to these matters.”

Last November, the Munich Regional Court held that LG Electronics Deutschland, GmbH, a German subsidiary of LG Electronics, Inc. infringes the ‘831 Patent but stayed the proceedings pending resolution of the related nullity, or invalidity, action in the German Federal Patent Court. A preliminary decision in the nullity action is expected this month. The Company is also scheduled for a hearing at the U.S. International Trade Commission beginning on Tuesday, March 14 in its case against Apple, LG and Qualcomm.Last week, the Patent Trial and Appeal Board issued its latest decisions with regard to the petitions for Inter Partes Review filed by Qualcomm against ParkerVision patents, increasing the favorable decisions to over six out of the ten petitions originally filed. ParkerVision received early favorable rulings last March when the PTAB rejected Qualcomm’s request for institution on three IPR challenges to a ParkerVision patent. With these most recent PTAB decisions, ParkerVision has received three additional favorable decisions and one split decision, confirming the validity of claims from a second challenged patent. Qualcomm received favorable rulings on two IPR’s and ParkerVision chose early on not to defend one IPR challenge. With these latest decisions, there are no further IPR’s challenging ParkerVision patents currently before the PTAB.Currently trading with a market cap of $34.8 million, PRKR just raised $10 million by issuing 4.1 million shares at $2.46 apiece. Last month, new board member Paul Rosenbaum purchased $170,000 in the open market. With the hearing before the trade commission getting started this week, we expect a resolution to PRKR's patent claims by the summer. We believe we're looking at another repeat of last year and that Apple will settle with ParkerVision just as Samsung did last year.We will be updating our subscribers as soon as we know more. For the latest updates on PRKR, sign up below!Disclosure: We have no position in PRKR and have not been compensated for this article.