InterDigital, Inc. (IDCC) Receives Average Recommendation of “Buy” from Brokerages
Shares of InterDigital, Inc. (NASDAQ:IDCC) have been assigned an average rating of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $91.33.
A number of research analysts have issued reports on IDCC shares. B. Riley restated a “buy” rating and set a $100.00 price target on shares of InterDigital in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of InterDigital from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Monday, February 27th. Finally, Benchmark Co. started coverage on shares of InterDigital in a research note on Tuesday, April 25th. They set a “hold” rating on the stock.
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Shares of InterDigital (IDCC) opened at 81.25 on Monday. The firm has a 50-day moving average of $82.94 and a 200-day moving average of $87.39. InterDigital has a 52-week low of $51.97 and a 52-week high of $102.30. The company has a market cap of $2.82 billion, a P/E ratio of 9.14 and a beta of 1.09.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, April 27th. The Wireless communications provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.22. InterDigital had a net margin of 48.22% and a return on equity of 43.97%. The business had revenue of $94.53 million for the quarter, compared to analyst estimates of $92.90 million. During the same quarter in the prior year, the business posted $0.79 EPS. InterDigital’s revenue for the quarter was down 12.3% compared to the same quarter last year. Equities research analysts forecast that InterDigital will post $3.23 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 12th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, July 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. InterDigital’s payout ratio is currently 13.47%.
In other news, EVP Lawrence F. Shay sold 8,000 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $85.88, for a total value of $687,040.00. Following the sale, the executive vice president now owns 48,458 shares in the company, valued at $4,161,573.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James J. Nolan sold 8,596 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $83.83, for a total transaction of $720,602.68. Following the completion of the sale, the executive vice president now owns 57,149 shares in the company, valued at approximately $4,790,800.67. The disclosure for this sale can be found here. Insiders sold 17,896 shares of company stock worth $1,518,030 in the last quarter. Company insiders own 1.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC raised its stake in InterDigital by 0.8% in the fourth quarter. United Capital Financial Advisers LLC now owns 3,125 shares of the Wireless communications provider’s stock worth $285,000 after buying an additional 25 shares during the last quarter. Tyers Asset Management LLC raised its stake in InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock worth $101,000 after buying an additional 32 shares during the last quarter. Elkfork Partners LLC raised its stake in InterDigital by 2.8% in the first quarter. Elkfork Partners LLC now owns 1,606 shares of the Wireless communications provider’s stock worth $139,000 after buying an additional 44 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in InterDigital by 2.8% in the first quarter. Meadow Creek Investment Management LLC now owns 2,044 shares of the Wireless communications provider’s stock worth $176,000 after buying an additional 56 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in InterDigital by 2.8% in the first quarter. Glen Harbor Capital Management LLC now owns 2,482 shares of the Wireless communications provider’s stock worth $214,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.
InterDigital Company Profile
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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