Shares of InterDigital, Inc. (NASDAQ:IDCC) have been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $96.00.
A number of research analysts have recently issued reports on the stock. TheStreet upgraded shares of InterDigital from a “c+” rating to a “b-” rating in a research report on Monday. B. Riley set a $90.00 price target on shares of InterDigital and gave the stock a “buy” rating in a research report on Thursday. ValuEngine downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. BidaskClub upgraded shares of InterDigital from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 6th. Finally, Zacks Investment Research downgraded shares of InterDigital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 3rd.
In other news, EVP James J. Nolan sold 5,093 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $79.82, for a total value of $406,523.26. Following the transaction, the executive vice president now owns 39,560 shares in the company, valued at approximately $3,157,679.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in IDCC. Raymond James & Associates acquired a new position in shares of InterDigital during the 2nd quarter valued at $210,000. Oakbrook Investments LLC acquired a new position in shares of InterDigital during the 3rd quarter valued at $212,000. Itau Unibanco Holding S.A. acquired a new position in shares of InterDigital during the 2nd quarter valued at $262,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of InterDigital during the 2nd quarter valued at $263,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of InterDigital by 106.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the Wireless communications provider’s stock valued at $264,000 after acquiring an additional 1,702 shares during the period. Institutional investors own 75.10% of the company’s stock.
IDCC traded down $0.26 during trading on Monday, reaching $73.44. 2,573 shares of the company’s stock were exchanged, compared to its average volume of 242,293. InterDigital has a one year low of $68.22 and a one year high of $85.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.06 and a quick ratio of 4.06. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 2.40 and a beta of 1.14.
InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, November 1st. The Wireless communications provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.36. The firm had revenue of $75.08 million for the quarter, compared to analyst estimates of $72.59 million. InterDigital had a net margin of 26.19% and a return on equity of 17.50%. The company’s revenue for the quarter was down 22.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 EPS. As a group, equities research analysts predict that InterDigital will post 2.05 EPS for the current year.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.
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