InterDigital, Inc. (IDCC) Given Average Rating of “Buy” by Brokerages

InterDigital, Inc. (NASDAQ:IDCC) has been given an average recommendation of “Buy” by the seven ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $93.67.

Several equities analysts have commented on the stock. BidaskClub raised shares of InterDigital from a “strong sell” rating to a “sell” rating in a research report on Monday. B. Riley reissued a “buy” rating and set a $100.00 target price on shares of InterDigital in a research report on Wednesday, January 3rd. Zacks Investment Research cut shares of InterDigital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, ValuEngine raised shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th.

In other news, EVP James J. Nolan sold 5,020 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $75.00, for a total transaction of $376,500.00. Following the completion of the sale, the executive vice president now owns 49,063 shares in the company, valued at approximately $3,679,725. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was 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. In the last three months, insiders have sold 6,020 shares of company stock worth $453,000. Insiders own 1.90% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Mountain Capital Investment Advisors Inc purchased a new stake in shares of InterDigital during the 2nd quarter worth approximately $118,000. Cerebellum GP LLC purchased a new stake in shares of InterDigital during the 4th quarter worth approximately $127,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of InterDigital by 57.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,815 shares of the Wireless communications provider’s stock worth $138,000 after purchasing an additional 664 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of InterDigital by 107.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,182 shares of the Wireless communications provider’s stock worth $160,000 after purchasing an additional 1,129 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in shares of InterDigital by 29.5% during the 2nd quarter. Advisor Group Inc. now owns 2,342 shares of the Wireless communications provider’s stock worth $181,000 after purchasing an additional 534 shares during the last quarter. Institutional investors own 68.91% of the company’s stock.

InterDigital (NASDAQ IDCC) opened at $76.55 on Tuesday. InterDigital has a 1 year low of $67.55 and a 1 year high of $102.30. The firm has a market cap of $2,660.00, a PE ratio of 10.57 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.22 and a quick ratio of 3.22.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.40 annualized dividend and a dividend yield of 1.83%. InterDigital’s dividend payout ratio is currently 19.34%.

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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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