InterDigital (NASDAQ:IDCC) has been assigned a $90.00 target price by equities researchers at B. Riley in a research note issued on Thursday. The brokerage currently has a “buy” rating on the Wireless communications provider’s stock. B. Riley’s price target indicates a potential upside of 24.98% from the company’s previous close.
Several other research firms have also recently weighed in on IDCC. ValuEngine cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. TheStreet upgraded shares of InterDigital from a “c+” rating to a “b-” rating in a research report on Monday, December 3rd. BidaskClub cut shares of InterDigital from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Finally, Zacks Investment Research cut shares of InterDigital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. InterDigital presently has an average rating of “Hold” and a consensus price target of $93.60.
IDCC opened at $72.01 on Thursday. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 2.41 and a beta of 1.14. InterDigital has a 1-year low of $68.22 and a 1-year high of $85.85.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, November 1st. The Wireless communications provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.36. The firm had revenue of $75.08 million during the quarter, compared to analysts’ expectations of $72.59 million. InterDigital had a net margin of 26.19% and a return on equity of 17.50%. The company’s quarterly revenue was down 22.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 EPS. As a group, equities research analysts forecast that InterDigital will post 2.05 EPS for the current year.
In other news, EVP James J. Nolan sold 5,093 shares of InterDigital stock in a transaction that occurred on Monday, October 1st. The shares were 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 in the company, valued at approximately $3,157,679.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by insiders.
Several large investors have recently modified their holdings of IDCC. Principal Financial Group Inc. grew its position in shares of InterDigital by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 152,941 shares of the Wireless communications provider’s stock worth $11,256,000 after buying an additional 3,075 shares during the period. Acadian Asset Management LLC grew its position in shares of InterDigital by 108.8% during the 2nd quarter. Acadian Asset Management LLC now owns 13,378 shares of the Wireless communications provider’s stock worth $1,083,000 after buying an additional 6,971 shares during the period. Aperio Group LLC grew its position in shares of InterDigital by 5.5% during the 2nd quarter. Aperio Group LLC now owns 11,947 shares of the Wireless communications provider’s stock worth $967,000 after buying an additional 620 shares during the period. Alps Advisors Inc. acquired a new stake in shares of InterDigital during the 2nd quarter worth approximately $533,000. Finally, TD Asset Management Inc. acquired a new stake in shares of InterDigital during the 2nd quarter worth approximately $332,000. 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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