InterDigital, Inc. (NASDAQ:IDCC)‘s stock had its “buy” rating reissued by research analysts at B. Riley in a report issued on Wednesday. They currently have a $100.00 target price on the Wireless communications provider’s stock. B. Riley’s price target indicates a potential upside of 43.47% from the stock’s current price.
A number of other analysts have also recently weighed in on IDCC. Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research note on Friday, August 18th. ValuEngine cut shares of InterDigital from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. BidaskClub cut shares of InterDigital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, Benchmark Co. assumed coverage on shares of InterDigital in a research note on Tuesday, April 25th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. InterDigital has a consensus rating of “Hold” and a consensus price target of $87.75.
InterDigital (NASDAQ IDCC) traded up 2.73% during mid-day trading on Wednesday, hitting $71.60. The stock had a trading volume of 279,047 shares. The firm has a market cap of $2.49 billion, a PE ratio of 7.81 and a beta of 1.00. The company has a 50-day moving average of $74.48 and a 200-day moving average of $83.03. InterDigital has a 12-month low of $67.55 and a 12-month high of $102.30.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. The company had revenue of $135.78 million for the quarter, compared to the consensus estimate of $133.69 million. During the same quarter in the previous year, the firm posted $1.14 EPS. The business’s revenue was up 78.8% compared to the same quarter last year. Analysts expect that InterDigital will post $3.59 earnings per share for the current year.
In related news, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $79.15, for a total value of $39,575.00. Following the sale, the executive vice president now owns 79,768 shares of the company’s stock, valued at $6,313,637.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James J. Nolan sold 2,294 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $71.30, for a total transaction of $163,562.20. Following the completion of the sale, the executive vice president now directly owns 54,042 shares in the company, valued at approximately $3,853,194.60. The disclosure for this sale can be found here. In the last three months, insiders sold 3,594 shares of company stock worth $270,649. 1.90% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. raised its position in InterDigital by 3.0% in the first quarter. Capstone Asset Management Co. now owns 6,119 shares of the Wireless communications provider’s stock worth $528,000 after buying an additional 180 shares during the period. Algert Global LLC purchased a new position in InterDigital during the first quarter worth approximately $895,000. AQR Capital Management LLC raised 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 during the period. Smithbridge Asset Management Inc. DE purchased a new position in InterDigital during the second quarter worth approximately $3,556,000. Finally, Alliancebernstein L.P. raised its position in InterDigital by 9.5% in the first quarter. Alliancebernstein L.P. now owns 123,197 shares of the Wireless communications provider’s stock worth $10,632,000 after buying an additional 10,690 shares during the period. Hedge funds and other institutional investors own 68.49% of the company’s stock.
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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