Shares of InterDigital, Inc. (NASDAQ:IDCC) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $94.00.

A number of research firms recently weighed in on IDCC. B. Riley reaffirmed a “buy” rating and set a $100.00 price objective on shares of InterDigital in a research report on Thursday, May 4th. Sidoti raised InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. ValuEngine lowered InterDigital from a “strong-buy” rating to a “buy” rating in a research report on Friday. Benchmark Co. began coverage on InterDigital in a research report on Tuesday, April 25th. They set a “hold” rating for the company. Finally, Zacks Investment Research raised InterDigital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 26th.

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Shares of InterDigital (NASDAQ IDCC) opened at 70.60 on Tuesday. The company has a market cap of $2.45 billion, a P/E ratio of 7.70 and a beta of 1.00. The company’s 50-day moving average price is $75.91 and its 200 day moving average price is $83.89. InterDigital has a one year low of $67.04 and a one year high of $102.30.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.05. InterDigital had a return on equity of 44.58% and a net margin of 45.92%. The company had revenue of $135.78 million during the quarter, compared to analyst estimates of $133.69 million. During the same quarter last year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, equities research analysts anticipate that InterDigital will post $3.59 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Wednesday, July 12th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Monday, July 10th. InterDigital’s payout ratio is 13.00%.

In other InterDigital news, EVP James J. Nolan sold 2,294 shares of InterDigital stock in a transaction on Monday, August 7th. The stock was sold at an average price of $71.30, for a total value of $163,562.20. Following the completion of the sale, the executive vice president now owns 54,042 shares of the company’s stock, valued at approximately $3,853,194.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott A. Mcquilkin sold 500 shares of InterDigital stock in a transaction on Friday, June 30th. The stock was sold at an average price of $79.15, for a total value of $39,575.00. Following the completion of the sale, the executive vice president now directly owns 79,768 shares of the company’s stock, valued at approximately $6,313,637.20. The disclosure for this sale can be found here. In the last three months, insiders sold 3,594 shares of company stock valued at $270,649. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in InterDigital by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,865,421 shares of the Wireless communications provider’s stock worth $221,497,000 after buying an additional 40,030 shares during the last quarter. State Street Corp raised its stake in InterDigital by 8.2% in the second quarter. State Street Corp now owns 1,199,522 shares of the Wireless communications provider’s stock worth $92,724,000 after buying an additional 91,286 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in InterDigital by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 923,558 shares of the Wireless communications provider’s stock worth $71,394,000 after buying an additional 37,058 shares during the last quarter. AQR Capital Management LLC raised its stake in InterDigital by 17.7% in the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock worth $56,834,000 after buying an additional 99,018 shares during the last quarter. Finally, Northern Trust Corp raised its stake in InterDigital by 2.7% in the second quarter. Northern Trust Corp now owns 614,152 shares of the Wireless communications provider’s stock worth $47,473,000 after buying an additional 16,034 shares during the last quarter. 68.49% of the stock is owned by institutional investors and hedge funds.

About InterDigital

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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