Dougherty & Co upgraded shares of InterDigital (NASDAQ:IDCC) from a neutral rating to a buy rating in a report published on Friday, MarketBeat reports. The firm currently has $87.00 price target on the Wireless communications provider’s stock.
Several other brokerages have also commented on IDCC. BidaskClub upgraded shares of InterDigital from a strong sell rating to a sell rating in a research note on Thursday, January 4th. Zacks Investment Research upgraded shares of InterDigital from a sell rating to a strong-buy rating and set a $93.00 price target on the stock in a research note on Wednesday, January 17th. B. Riley reiterated a buy rating and issued a $100.00 price target on shares of InterDigital in a research note on Wednesday, January 3rd. Finally, ValuEngine upgraded shares of InterDigital from a hold rating to a buy rating in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. InterDigital currently has an average rating of Hold and an average price target of $90.50.
Shares of InterDigital (NASDAQ IDCC) traded up $5.40 during trading on Friday, reaching $75.70. 500,567 shares of the company’s stock traded hands, compared to its average volume of 332,709. The stock has a market capitalization of $2,830.00, a price-to-earnings ratio of 15.51 and a beta of 0.94. InterDigital has a one year low of $67.55 and a one year high of $93.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.71 and a quick ratio of 3.22.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, February 22nd. The Wireless communications provider reported $2.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $1.60. The company had revenue of $205.30 million for the quarter, compared to analyst estimates of $191.42 million. InterDigital had a net margin of 32.70% and a return on equity of 26.52%. The firm’s revenue was down 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.85 earnings per share. sell-side analysts predict that InterDigital will post 1.57 earnings per share for the current year.
In other news, EVP James J. Nolan sold 5,020 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $75.00, for a total transaction of $376,500.00. Following the transaction, the executive vice president now directly owns 49,063 shares in the company, valued at $3,679,725. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $76.50, for a total transaction of $38,250.00. Following the transaction, the executive vice president now owns 78,881 shares in the company, valued at $6,034,396.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,020 shares of company stock worth $453,000. Insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in IDCC. Cerebellum GP LLC purchased a new position in shares of InterDigital during the fourth quarter worth approximately $127,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of InterDigital by 57.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,815 shares of the Wireless communications provider’s stock worth $138,000 after acquiring an additional 664 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of InterDigital by 107.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,182 shares of the Wireless communications provider’s stock worth $160,000 after acquiring an additional 1,129 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of InterDigital by 52.2% during the third quarter. Victory Capital Management Inc. now owns 2,459 shares of the Wireless communications provider’s stock worth $181,000 after purchasing an additional 843 shares during the period. Finally, Oakbrook Investments LLC acquired a new stake in shares of InterDigital during the fourth quarter worth $202,000. Institutional investors and hedge funds own 71.62% of the company’s stock.
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InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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