InterDigital, Inc. (NASDAQ:IDCC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday, July 12th.
Several other analysts also recently commented on the stock. ValuEngine raised shares of InterDigital from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 25th. B. Riley raised shares of InterDigital from a “neutral” rating to a “buy” rating and upped their price objective for the company from $86.00 to $100.00 in a report on Monday, April 24th. Zacks Investment Research raised shares of InterDigital from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, Benchmark Co. began coverage on shares of InterDigital in a report on Tuesday, April 25th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. InterDigital presently has an average rating of “Hold” and an average price target of $92.50.
Shares of InterDigital (IDCC) traded down 0.35% on Wednesday, hitting $71.65. 514,664 shares of the stock traded hands. The company has a market cap of $2.49 billion, a PE ratio of 7.81 and a beta of 1.00. InterDigital has a one year low of $65.39 and a one year high of $102.30. The stock has a 50 day moving average of $77.60 and a 200 day moving average of $84.81.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The business had revenue of $135.78 million for the quarter, compared to the consensus estimate of $133.69 million. InterDigital had a net margin of 37.96% and a return on equity of 27.36%. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. Equities analysts anticipate that InterDigital will post $3.59 earnings per share for the current year.
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In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $79.15, for a total transaction of $39,575.00. Following the completion of the transaction, the executive vice president now owns 79,768 shares of the company’s stock, valued at $6,313,637.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lawrence F. Shay sold 8,000 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $85.88, for a total transaction of $687,040.00. Following the transaction, the executive vice president now directly owns 48,458 shares of the company’s stock, valued at approximately $4,161,573.04. The disclosure for this sale can be found here. Insiders sold 9,300 shares of company stock valued at $794,127 over the last quarter. Company insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IDCC. Tyers Asset Management LLC raised its position in shares of InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock valued at $101,000 after buying an additional 32 shares during the period. Financial Architects Inc raised its position in shares of InterDigital by 180.0% in the second quarter. Financial Architects Inc now owns 1,400 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 900 shares during the period. TrimTabs Asset Management LLC raised its position in InterDigital by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the Wireless communications provider’s stock valued at $117,000 after buying an additional 640 shares during the last quarter. Victory Capital Management Inc. raised its position in InterDigital by 17.5% in the second quarter. Victory Capital Management Inc. now owns 1,616 shares of the Wireless communications provider’s stock valued at $125,000 after buying an additional 241 shares during the last quarter. Finally, Segantii Capital Management Ltd acquired a new position in InterDigital during the first quarter valued at approximately $129,000. 69.33% of the stock is owned by institutional investors.
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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