StockNews.com Downgrades InterDigital (NASDAQ:IDCC) to Hold

InterDigital (NASDAQ:IDCC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Separately, Bank of America reiterated an “underperform” rating and set a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st.

InterDigital Trading Up 0.3 %

NASDAQ IDCC opened at $105.77 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34. InterDigital has a one year low of $74.65 and a one year high of $119.86. The company’s 50 day moving average price is $101.62 and its 200 day moving average price is $101.31. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 0.85 and a beta of 1.35.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The firm had revenue of $105.52 million during the quarter, compared to analysts’ expectations of $104.31 million. On average, sell-side analysts predict that InterDigital will post 7.02 EPS for the current year.

Insider Buying and Selling

In related news, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the transaction, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $103.87, for a total value of $67,515.50. Following the sale, the chief technology officer now directly owns 64,517 shares of the company’s stock, valued at $6,701,380.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the sale, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,999 shares of company stock worth $196,423. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IDCC. Riverview Trust Co bought a new stake in shares of InterDigital during the 1st quarter worth about $31,000. Palisade Asset Management LLC acquired a new stake in shares of InterDigital in the first quarter valued at $64,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in InterDigital during the third quarter valued at about $68,000. Parkside Financial Bank & Trust grew its holdings in InterDigital by 12.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after acquiring an additional 114 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of InterDigital by 12.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after purchasing an additional 143 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

About InterDigital

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.