TiVo, whose brand is synonymous with digital video recorders, has turned to litigation to generate revenue from licensing fees as the industry pioneer has struggled to fight competition from low-cost rivals in recent years.

In January, it pocketed $215 million from AT&T to settle a patent infringement dispute. The settlement could bode well for TiVo’s lawsuit with Verizon, which is centered around the same patents.

Barron’s said the company may one day sue Time Warner Cable, which has more subscribers than AT&T and Verizon.

TiVo added subscribers in the third quarter for the first time in four years, Barron’s said. It has signed distribution deals with Virgin Media, a cable company based in Britain, and other operators such as Spain’s ONO and DirecTV in the United States.

TiVo’s shares closed at $11.23 on Friday. Barron’s said the stock is trading significantly below some analysts’ price targets of $17 and $18 per share.