InterDigital, Inc. (NASDAQ:IDCC)‘s stock had its “buy” rating reiterated by equities research analysts at B. Riley in a research note issued on Monday. They presently have a $100.00 price objective on the Wireless communications provider’s stock. B. Riley’s price objective indicates a potential upside of 27.31% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded InterDigital from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Benchmark Co. began coverage on InterDigital in a research report on Tuesday, April 25th. They issued a “hold” rating on the stock. BidaskClub downgraded InterDigital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Finally, ValuEngine upgraded InterDigital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. InterDigital currently has an average rating of “Hold” and a consensus price target of $92.50.

InterDigital (NASDAQ IDCC) traded up 0.159% during mid-day trading on Monday, hitting $78.675. The company had a trading volume of 107,310 shares. The firm’s 50 day moving average is $79.85 and its 200 day moving average is $85.93. InterDigital has a 52 week low of $56.15 and a 52 week high of $102.30. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 8.850 and a beta of 1.01.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, April 27th. The Wireless communications provider reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.22. The company had revenue of $94.53 million for the quarter, compared to the consensus estimate of $92.90 million. InterDigital had a return on equity of 43.97% and a net margin of 48.22%. InterDigital’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. On average, equities research analysts predict that InterDigital will post $3.23 EPS for the current year.

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In other news, Director Jeffrey K. Belk sold 800 shares of InterDigital stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $84.39, for a total value of $67,512.00. Following the sale, the director now directly owns 17,801 shares of the company’s stock, valued at $1,502,226.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James J. Nolan sold 8,596 shares of InterDigital stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $83.83, for a total value of $720,602.68. Following the completion of the sale, the executive vice president now directly owns 57,149 shares in the company, valued at $4,790,800.67. The disclosure for this sale can be found here. Insiders sold 17,896 shares of company stock worth $1,514,730 over the last ninety days. Insiders own 1.90% of the company’s stock.

A number of large investors have recently modified their holdings of the company. Financial Architects Inc boosted its stake 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 last quarter. State Treasurer State of Michigan boosted its stake in shares of InterDigital by 2.9% in the second quarter. State Treasurer State of Michigan now owns 14,300 shares of the Wireless communications provider’s stock valued at $1,105,000 after buying an additional 400 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of InterDigital by 3.4% in the second quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the Wireless communications provider’s stock valued at $696,000 after buying an additional 300 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of InterDigital by 0.9% in the second quarter. Nisa Investment Advisors LLC now owns 5,760 shares of the Wireless communications provider’s stock valued at $461,000 after buying an additional 50 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of InterDigital by 10.9% in the second quarter. LS Investment Advisors LLC now owns 4,394 shares of the Wireless communications provider’s stock valued at $340,000 after buying an additional 431 shares during the last quarter. 69.31% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for InterDigital (NASDAQ:IDCC)

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