InterDigital (NASDAQ:IDCC) was downgraded by investment analysts at Thomson Reuters/Verus from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Analyst Ratings Network.com reports.
A number of other firms have also recently commented on IDCC. Analysts at M Partners upgraded shares of InterDigital to a “buy” rating in a research note to investors on Friday, July 5th. Analysts at Barclays Capital raised their price target on shares of InterDigital from $40.00 to $43.00 in a research note to investors on Friday, May 17th. They now have an “equal weight” rating on the stock.
Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $49.33.
InterDigital (NASDAQ:IDCC) opened at 36.48 on Monday. InterDigital has a 52-week low of $31.18 and a 52-week high of $48.68. The stock’s 50-day moving average is currently $40.87. The company has a market cap of $1.502 billion and a price-to-earnings ratio of 6.10.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. The company had revenue of $67.70 million for the quarter, compared to the consensus estimate of $68.18 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts expect that InterDigital will post $-0.46 EPS for the current fiscal year.
In other InterDigital news, Director John A. Kritzmacher sold 2,000 shares of InterDigital stock in a transaction that occured on Tuesday, July 30th. The stock was sold at an average price of $40.00, for a total transaction of $80,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
InterDigital, Inc (NASDAQ:IDCC) designs and develops advanced technologies for wireless communications.
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