InterDigital Wireless (NASDAQ:IDCC) Upgraded to Strong-Buy by ValuEngine

InterDigital Wireless (NASDAQ:IDCC) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday, ValuEngine reports.

Several other research analysts have also recently weighed in on IDCC. B. Riley reissued a “buy” rating and issued a $80.00 price target (down from $90.00) on shares of InterDigital Wireless in a report on Friday, August 2nd. BidaskClub raised shares of InterDigital Wireless from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $80.00.

Shares of IDCC stock traded up $3.99 on Tuesday, reaching $57.10. The stock had a trading volume of 606,905 shares, compared to its average volume of 348,256. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average is $52.57 and its two-hundred day moving average is $60.50. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 31.55, a P/E/G ratio of 13.61 and a beta of 1.05. InterDigital Wireless has a 12 month low of $47.02 and a 12 month high of $77.88.

InterDigital Wireless (NASDAQ:IDCC) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.12. The company had revenue of $75.61 million for the quarter, compared to analysts’ expectations of $75.50 million. InterDigital Wireless had a net margin of 9.56% and a return on equity of 3.15%. InterDigital Wireless’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. On average, sell-side analysts forecast that InterDigital Wireless will post 0.31 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new position in InterDigital Wireless in the 2nd quarter valued at about $26,000. Tower Research Capital LLC TRC increased its holdings in shares of InterDigital Wireless by 6,828.6% during the second quarter. Tower Research Capital LLC TRC now owns 485 shares of the Wireless communications provider’s stock worth $31,000 after purchasing an additional 478 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of InterDigital Wireless during the second quarter worth approximately $38,000. US Bancorp DE increased its holdings in shares of InterDigital Wireless by 79.1% during the second quarter. US Bancorp DE now owns 1,112 shares of the Wireless communications provider’s stock worth $72,000 after purchasing an additional 491 shares during the period. Finally, Wealthcare Capital Management LLC increased its holdings in shares of InterDigital Wireless by 190.5% during the second quarter. Wealthcare Capital Management LLC now owns 1,525 shares of the Wireless communications provider’s stock worth $98,000 after purchasing an additional 1,000 shares during the period. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

About InterDigital Wireless

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides 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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