InterDigital (IDCC) Upgraded by TheStreet to “B-“

TheStreet upgraded shares of InterDigital (NASDAQ:IDCC) from a c+ rating to a b- rating in a research note issued to investors on Monday.

IDCC has been the subject of a number of other research reports. Zacks Investment Research lowered InterDigital from a hold rating to a strong sell rating in a research note on Wednesday, October 3rd. BidaskClub lowered InterDigital from a hold rating to a sell rating in a research note on Thursday, August 30th. Finally, ValuEngine raised InterDigital from a hold rating to a buy rating in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $93.60.

Shares of IDCC opened at $74.01 on Monday. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 2.40 and a beta of 1.14. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.31. InterDigital has a 1 year low of $68.22 and a 1 year high of $85.85.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, November 1st. The Wireless communications provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.36. The business had revenue of $75.08 million during the quarter, compared to analyst estimates of $72.59 million. InterDigital had a return on equity of 17.50% and a net margin of 26.19%. InterDigital’s revenue for the quarter was down 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. Sell-side analysts anticipate that InterDigital will post 2.05 earnings per share for the current fiscal year.

In other news, EVP James J. Nolan sold 5,093 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $79.82, for a total transaction of $406,523.26. Following the completion of the sale, the executive vice president now owns 39,560 shares of the company’s stock, valued at $3,157,679.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates purchased a new stake in shares of InterDigital during the second quarter valued at approximately $210,000. Oakbrook Investments LLC bought a new position in shares of InterDigital during the third quarter valued at approximately $212,000. Itau Unibanco Holding S.A. bought a new position in shares of InterDigital during the second quarter valued at approximately $262,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of InterDigital during the second quarter valued at approximately $263,000. Finally, Tower Research Capital LLC TRC raised its holdings 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 valued at $264,000 after acquiring an additional 1,702 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

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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