InterDigital (NASDAQ:IDCC) has been given a $90.00 target price by research analysts at B. Riley in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the Wireless communications provider’s stock. B. Riley’s price target points to a potential upside of 23.66% from the company’s previous close.
IDCC has been the topic of several other reports. Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 3rd. BidaskClub lowered shares of InterDigital from a “hold” rating to a “sell” rating in a report on Thursday, August 30th. ValuEngine upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Finally, TheStreet upgraded shares of InterDigital from a “c+” rating to a “b-” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $93.60.
NASDAQ IDCC traded down $0.92 during trading hours on Thursday, hitting $72.78. The company’s stock had a trading volume of 718 shares, compared to its average volume of 242,293. InterDigital has a twelve month low of $68.22 and a twelve month high of $85.85. The firm has a market capitalization of $2.49 billion, a P/E ratio of 12.05, a P/E/G ratio of 2.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.06 and a quick ratio of 4.06.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, November 1st. The Wireless communications provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.36. InterDigital had a net margin of 26.19% and a return on equity of 17.50%. The business had revenue of $75.08 million for the quarter, compared to analyst estimates of $72.59 million. During the same period in the prior year, the business posted $1.00 earnings per share. InterDigital’s revenue was down 22.9% compared to the same quarter last year. Sell-side analysts expect that InterDigital will post 2.05 EPS for the current fiscal year.
In other InterDigital news, EVP James J. Nolan sold 5,093 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $79.82, for a total value of $406,523.26. Following the sale, the executive vice president now directly owns 39,560 shares in the company, valued at $3,157,679.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates acquired a new stake in InterDigital in the second quarter worth $210,000. Oakbrook Investments LLC bought a new stake in shares of InterDigital during the third quarter worth $212,000. Itau Unibanco Holding S.A. bought a new stake in shares of InterDigital during the second quarter worth $262,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of InterDigital during the second quarter worth $263,000. Finally, Tower Research Capital LLC TRC increased its position in shares of InterDigital by 106.3% during the third quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the Wireless communications provider’s stock worth $264,000 after acquiring an additional 1,702 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.
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