InterDigital (IDCC) – Investment Analysts’ Recent Ratings Updates
A number of research firms have changed their ratings and price targets for InterDigital (NASDAQ: IDCC):
- 10/5/2016 – InterDigital was downgraded by analysts at Dougherty & Co from a “buy” rating to a “neutral” rating.
- 10/1/2016 – InterDigital had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $80.00 price target on the stock.
- 9/26/2016 – InterDigital was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating. They now have a $80.00 price target on the stock.
- 9/23/2016 – InterDigital had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $80.00 price target on the stock, up previously from $75.00.
- 9/16/2016 – InterDigital had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $80.00 price target on the stock.
- 9/11/2016 – InterDigital is now covered by analysts at B. Riley. They set a “buy” rating and a $80.00 price target on the stock.
- 9/9/2016 – InterDigital had its price target raised by analysts at Barclays PLC from $65.00 to $75.00. They now have an “equal weight” rating on the stock.
- 9/6/2016 – InterDigital had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $80.00 price target on the stock, up previously from $73.00.
Shares of InterDigital Inc. (NASDAQ:IDCC) traded down 1.42% on Thursday, hitting $77.25. 34,329 shares of the stock traded hands. InterDigital Inc. has a 12-month low of $41.01 and a 12-month high of $79.97. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 21.85 and a beta of 0.73. The stock has a 50-day moving average price of $75.17 and a 200 day moving average price of $62.39.
InterDigital (NASDAQ:IDCC) last announced its earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.31 by $0.83. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The company earned $75.90 million during the quarter, compared to analysts’ expectations of $76.60 million. During the same period last year, the company posted $0.89 earnings per share. The business’s revenue for the quarter was down 36.0% on a year-over-year basis. On average, analysts anticipate that InterDigital Inc. will post $5.71 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be issued a dividend of $0.30 per share. This is a boost from InterDigital’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, October 7th. InterDigital’s dividend payout ratio (DPR) is currently 33.99%.
In related news, EVP Jannie K. Lau sold 2,010 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $78.35, for a total transaction of $157,483.50. Following the completion of the sale, the executive vice president now directly owns 14,244 shares in the company, valued at $1,116,017.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William J. Merritt sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $78.35, for a total transaction of $391,750.00. Following the sale, the insider now owns 136,072 shares of the company’s stock, valued at $10,661,241.20. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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