Shares of InterDigital, Inc. (NASDAQ:IDCC) have earned an average recommendation of “Hold” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $91.33.
A number of equities research analysts recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research report on Wednesday. BidaskClub lowered InterDigital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. ValuEngine raised InterDigital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 25th. Zacks Investment Research raised InterDigital from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, Benchmark Co. started coverage on InterDigital in a research report on Tuesday, April 25th. They issued a “hold” rating on the stock.
In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $79.15, for a total value of $39,575.00. Following the completion of the transaction, the executive vice president now directly owns 79,768 shares in the company, valued at $6,313,637.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lawrence F. Shay sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $85.88, for a total value of $687,040.00. Following the completion of the transaction, the executive vice president now owns 48,458 shares of the company’s stock, valued at $4,161,573.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,896 shares of company stock valued at $1,514,730. Corporate insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of IDCC. Vanguard Group Inc. increased its position in InterDigital by 3.3% in the first quarter. Vanguard Group Inc. now owns 2,825,391 shares of the Wireless communications provider’s stock worth $243,831,000 after buying an additional 89,997 shares in the last quarter. State Street Corp increased its position in InterDigital by 2.0% in the first quarter. State Street Corp now owns 1,108,236 shares of the Wireless communications provider’s stock worth $95,642,000 after buying an additional 21,278 shares in the last quarter. AQR Capital Management LLC increased its position in InterDigital by 17.7% in the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock worth $56,834,000 after buying an additional 99,018 shares in the last quarter. Geode Capital Management LLC increased its position in InterDigital by 5.1% in the first quarter. Geode Capital Management LLC now owns 392,469 shares of the Wireless communications provider’s stock worth $33,870,000 after buying an additional 19,139 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in InterDigital by 29.7% in the first quarter. Gotham Asset Management LLC now owns 371,155 shares of the Wireless communications provider’s stock worth $32,031,000 after buying an additional 84,884 shares in the last quarter. Hedge funds and other institutional investors own 69.15% of the company’s stock.
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Shares of InterDigital (IDCC) opened at 80.40 on Friday. The company has a market cap of $2.79 billion, a PE ratio of 9.04 and a beta of 1.01. The company has a 50 day moving average price of $79.85 and a 200 day moving average price of $85.93. InterDigital has a 52 week low of $56.15 and a 52 week high of $102.30.
InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, April 27th. The Wireless communications provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.22. InterDigital had a return on equity of 43.97% and a net margin of 48.22%. The business had revenue of $94.53 million for the quarter, compared to analyst estimates of $92.90 million. During the same quarter last year, the firm earned $0.79 EPS. InterDigital’s revenue for the quarter was down 12.3% compared to the same quarter last year. On average, equities analysts expect that InterDigital will post $3.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Wednesday, July 12th will be paid a $0.30 dividend. The ex-dividend date is Monday, July 10th. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. InterDigital’s dividend payout ratio is 13.47%.
About InterDigital
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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