InterDigital (NASDAQ:IDCC) Rating Increased to Buy at StockNews.com

InterDigital (NASDAQ:IDCC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Separately, Bank of America reaffirmed an “underperform” rating and set a $100.00 target price (down from $140.00) on shares of InterDigital in a report on Monday, April 1st.

InterDigital Stock Down 2.2 %

Shares of IDCC stock opened at $98.73 on Monday. The stock’s 50-day simple moving average is $102.42 and its 200-day simple moving average is $100.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $2.50 billion, a PE ratio of 13.16, a P/E/G ratio of 0.82 and a beta of 1.34. InterDigital has a fifty-two week low of $66.82 and a fifty-two week high of $119.86.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The firm had revenue of $105.52 million for the quarter, compared to analyst estimates of $104.31 million. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. Equities analysts expect that InterDigital will post 7.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the transaction, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the transaction, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the sale, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On InterDigital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDCC. Riverview Trust Co acquired a new stake in InterDigital during the first quarter worth $31,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of InterDigital in the third quarter valued at $68,000. Parkside Financial Bank & Trust boosted its holdings in InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after purchasing an additional 114 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in InterDigital by 12.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after purchasing an additional 143 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in InterDigital by 11.6% during the 4th quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock worth $107,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.