Traders Purchase High Volume of InterDigital Put Options (IDCC)
InterDigital (NASDAQ:IDCC) saw unusually large options trading on Wednesday. Investors purchased 873 put options on the stock, American Banking and Market News reports. This is an increase of approximately 184% compared to the average volume of 307 put options.
Separately, analysts at Zacks upgraded shares of InterDigital from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 6th. They now have a $37.30 price target on the stock.
Shares of InterDigital (NASDAQ:IDCC) traded down 1.92% on Wednesday, hitting $47.90. 396,683 shares of the company’s stock traded hands. InterDigital has a 1-year low of $26.25 and a 1-year high of $49.10. The stock’s 50-day moving average is $37.33 and its 200-day moving average is $32.48. The company has a market cap of $1.938 billion and a price-to-earnings ratio of 41.60.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $57.84 million for the quarter, compared to the consensus estimate of $56.60 million. During the same quarter in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts predict that InterDigital will post $2.65 earnings per share for the current fiscal year.
InterDigital, Inc (NASDAQ:IDCC) designs and develops advanced technologies for wireless communications.
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