InterDigital (NASDAQ:IDCC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.
IDCC has been the topic of a number of other reports. B. Riley reiterated a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research note on Friday, October 27th. ValuEngine upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Finally, Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. InterDigital presently has a consensus rating of “Buy” and an average price target of $93.67.
InterDigital (NASDAQ IDCC) opened at $79.15 on Thursday. InterDigital has a 12 month low of $67.55 and a 12 month high of $102.30. The company has a market cap of $2,760.00, a price-to-earnings ratio of 10.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.22 and a current ratio of 3.22.
In other InterDigital news, EVP James J. Nolan sold 5,020 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $75.00, for a total value of $376,500.00. Following the completion of the sale, the executive vice president now directly owns 49,063 shares of the company’s stock, valued at approximately $3,679,725. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Scott A. Mcquilkin sold 500 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $76.50, for a total transaction of $38,250.00. The disclosure for this sale can be found here. Insiders sold a total of 8,581 shares of company stock worth $638,186 over the last quarter. 1.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in InterDigital by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,865,421 shares of the Wireless communications provider’s stock valued at $221,497,000 after purchasing an additional 40,030 shares during the period. State Street Corp boosted its holdings in InterDigital by 8.2% in the 2nd quarter. State Street Corp now owns 1,199,522 shares of the Wireless communications provider’s stock valued at $92,724,000 after purchasing an additional 91,286 shares during the period. Dimensional Fund Advisors LP boosted its holdings in InterDigital by 6.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 985,849 shares of the Wireless communications provider’s stock valued at $72,708,000 after purchasing an additional 62,291 shares during the period. Northern Trust Corp boosted its holdings in InterDigital by 2.7% in the 2nd quarter. Northern Trust Corp now owns 614,152 shares of the Wireless communications provider’s stock valued at $47,473,000 after purchasing an additional 16,034 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in InterDigital by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 574,574 shares of the Wireless communications provider’s stock valued at $44,415,000 after purchasing an additional 98,874 shares during the period. 72.83% of the stock is owned by hedge funds and other institutional investors.
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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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