InterDigital (NASDAQ:IDCC) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 7th. B. Riley reaffirmed a “buy” rating and set a $100.00 target price on shares of InterDigital in a research note on Wednesday, January 3rd. Finally, Dougherty & Co raised shares of InterDigital from a “neutral” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $88.67.
NASDAQ IDCC opened at $75.40 on Friday. The firm has a market cap of $2,610.88, a price-to-earnings ratio of 12.44 and a beta of 0.93. InterDigital has a fifty-two week low of $67.55 and a fifty-two week high of $93.00. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.33.
InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, February 22nd. The Wireless communications provider reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $1.60. The firm had revenue of $205.30 million for the quarter, compared to analysts’ expectations of $191.42 million. InterDigital had a net margin of 32.70% and a return on equity of 26.52%. The company’s revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.85 earnings per share. sell-side analysts predict that InterDigital will post 1.58 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Cardinal Capital Management LLC CT bought a new stake in shares of InterDigital in the fourth quarter worth $25,689,000. Two Sigma Advisers LP grew its stake in shares of InterDigital by 65.7% in the fourth quarter. Two Sigma Advisers LP now owns 300,228 shares of the Wireless communications provider’s stock worth $22,862,000 after purchasing an additional 119,000 shares during the last quarter. General American Investors Co. Inc. bought a new stake in shares of InterDigital in the fourth quarter worth $6,208,000. Gotham Asset Management LLC grew its stake in shares of InterDigital by 237.9% in the fourth quarter. Gotham Asset Management LLC now owns 107,163 shares of the Wireless communications provider’s stock worth $8,160,000 after purchasing an additional 75,447 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of InterDigital in the fourth quarter worth $4,875,000. 74.16% of the stock is currently owned by hedge funds and other institutional investors.
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InterDigital Company Profile
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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