InterDigital, Inc. (IDCC) Given Average Rating of “Hold” by Brokerages
Shares of InterDigital, Inc. (NASDAQ:IDCC) have been given an average rating of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $94.00.
Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of InterDigital from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. B. Riley reiterated a “buy” rating and set a $100.00 target price on shares of InterDigital in a research report on Friday, October 27th. ValuEngine upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Finally, Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “sell” rating in a research report on Wednesday.
InterDigital (IDCC) opened at $80.90 on Friday. InterDigital has a twelve month low of $67.55 and a twelve month high of $102.30. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2,810.00, a PE ratio of 11.17 and a beta of 0.97.
InterDigital announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 14th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the Wireless communications provider to repurchase up to 4.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.40 annualized dividend and a dividend yield of 1.73%. InterDigital’s dividend payout ratio (DPR) is currently 19.34%.
In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $76.50, for a total value of $38,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jannie K. Lau sold 2,561 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $72.31, for a total transaction of $185,185.91. Following the completion of the transaction, the executive vice president now owns 19,496 shares in the company, valued at $1,409,755.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,581 shares of company stock worth $638,186. 1.90% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in IDCC. Koch Industries Inc. boosted its position in InterDigital by 5,919.7% in the second quarter. Koch Industries Inc. now owns 473,089 shares of the Wireless communications provider’s stock valued at $467,000 after buying an additional 465,230 shares in the last quarter. Schroder Investment Management Group boosted its position in InterDigital by 1,149.0% in the second quarter. Schroder Investment Management Group now owns 152,815 shares of the Wireless communications provider’s stock valued at $12,103,000 after buying an additional 140,580 shares in the last quarter. Renaissance Technologies LLC boosted its position in InterDigital by 20.8% in the second quarter. Renaissance Technologies LLC now owns 574,574 shares of the Wireless communications provider’s stock valued at $44,415,000 after buying an additional 98,874 shares in the last quarter. State Street Corp boosted its position 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 valued at $92,724,000 after buying an additional 91,286 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in InterDigital by 6.7% in the third quarter. Dimensional Fund Advisors LP now owns 985,849 shares of the Wireless communications provider’s stock valued at $72,708,000 after buying an additional 62,291 shares in the last quarter. Hedge funds and other institutional investors own 72.88% 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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