InterDigital, Inc. (IDCC) Receives Average Recommendation of “Hold” from Brokerages
InterDigital, Inc. (NASDAQ:IDCC) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $90.00.
IDCC has been the topic of several research reports. B. Riley restated a “buy” rating and set a $100.00 price target on shares of InterDigital in a research report on Monday, August 28th. Zacks Investment Research lowered InterDigital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, ValuEngine upgraded InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th.
In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of InterDigital stock in a transaction on Friday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the transaction, the executive vice president now owns 79,319 shares in the company, valued at $5,948,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jannie K. Lau sold 2,561 shares of InterDigital stock in a transaction 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 transaction, the executive vice president now owns 19,496 shares of the company’s stock, valued at approximately $1,409,755.76. The disclosure for this sale can be found here. Insiders have sold 8,081 shares of company stock worth $599,186 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.
Shares of InterDigital (IDCC) opened at $74.95 on Monday. The firm has a market capitalization of $2,601.59, a P/E ratio of 10.35 and a beta of 0.97. InterDigital has a 1 year low of $67.55 and a 1 year high of $102.30. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.22 and a quick ratio of 3.22.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.34. The firm had revenue of $97.30 million for the quarter, compared to analyst estimates of $94.13 million. InterDigital had a return on equity of 32.77% and a net margin of 42.94%. The business’s quarterly revenue was down 53.3% compared to the same quarter last year. During the same period last year, the company earned $2.99 EPS. equities research analysts anticipate that InterDigital will post 4.04 earnings per share for the current year.
InterDigital announced that its board has authorized a stock buyback plan on Thursday, September 14th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the Wireless communications provider to purchase up to 4.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.40 annualized dividend and a dividend yield of 1.87%. InterDigital’s dividend payout ratio is presently 19.34%.
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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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