InterDigital (NASDAQ:IDCC)‘s stock had its “buy” rating restated by equities research analysts at B. Riley in a report issued on Monday. They presently have a $100.00 price objective on the Wireless communications provider’s stock. B. Riley’s price target suggests a potential upside of 29.12% from the company’s current price.

A number of other analysts have also recently commented on IDCC. ValuEngine cut shares of InterDigital from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $89.00.

Shares of InterDigital (NASDAQ:IDCC) traded up $3.30 during mid-day trading on Monday, reaching $77.45. 495,600 shares of the company’s stock were exchanged, compared to its average volume of 331,863. InterDigital has a twelve month low of $67.55 and a twelve month high of $102.30. The stock has a market capitalization of $2,573.85, a PE ratio of 10.24 and a beta of 0.97. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.34.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.34. InterDigital had a net margin of 42.94% and a return on equity of 32.77%. The business had revenue of $97.30 million during the quarter, compared to analysts’ expectations of $94.13 million. During the same period in the prior year, the company earned $2.99 earnings per share. The firm’s revenue was down 53.3% on a year-over-year basis. sell-side analysts predict that InterDigital will post 4.04 earnings per share for the current year.

InterDigital announced that its Board of Directors has approved a share buyback plan on Thursday, September 14th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the Wireless communications provider to purchase up to 4.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

In other InterDigital news, EVP Jannie K. Lau sold 2,561 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $72.31, for a total value of $185,185.91. Following the completion of the transaction, the executive vice president now directly owns 19,496 shares in the company, valued at $1,409,755.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James J. Nolan sold 5,020 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $75.00, for a total transaction of $376,500.00. Following the completion of the transaction, the executive vice president now owns 49,063 shares of the company’s stock, valued at $3,679,725. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,081 shares of company stock valued at $599,186. Company insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Seizert Capital Partners LLC boosted its position in shares of InterDigital by 22.8% during the second quarter. Seizert Capital Partners LLC now owns 47,916 shares of the Wireless communications provider’s stock worth $3,704,000 after acquiring an additional 8,890 shares during the last quarter. Arizona State Retirement System boosted its position in shares of InterDigital by 2.1% during the second quarter. Arizona State Retirement System now owns 14,600 shares of the Wireless communications provider’s stock worth $1,129,000 after acquiring an additional 300 shares during the last quarter. Strid Group LLC bought a new position in shares of InterDigital during the second quarter worth $4,514,000. Cubist Systematic Strategies LLC boosted its position in shares of InterDigital by 116.3% during the second quarter. Cubist Systematic Strategies LLC now owns 23,618 shares of the Wireless communications provider’s stock worth $1,826,000 after acquiring an additional 12,697 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of InterDigital by 1.4% during the second quarter. Vanguard Group Inc. now owns 2,865,421 shares of the Wireless communications provider’s stock worth $221,497,000 after acquiring an additional 40,030 shares during the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.

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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.

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