InterDigital (IDCC) Stock Rating Lowered by BidaskClub

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.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $97.30 million for the quarter, compared to analyst estimates of $94.13 million. During the same quarter in the prior year, the business posted $2.99 EPS. InterDigital’s quarterly revenue was down 53.3% on a year-over-year basis. research analysts forecast that InterDigital will post 5.72 earnings per share for the current year.

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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