InterDigital Inc. (IDCC) Reaches New 52-Week High at $66.10
Shares of InterDigital Inc. (NASDAQ:IDCC) hit a new 52-week high during trading on Monday . The company traded as high as $66.10 and last traded at $65.78, with a volume of 128,716 shares trading hands. The stock had previously closed at $65.62.
A number of analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $69.00 target price on shares of InterDigital in a research report on Friday, April 29th. Zacks Investment Research raised InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 target price for the company in a research report on Saturday. Finally, TheStreet lowered InterDigital from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.75.
The company has a 50 day moving average price of $57.30 and a 200 day moving average price of $53.92. The company has a market capitalization of $2.27 billion and a PE ratio of 18.71.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.83. During the same period last year, the business posted $0.89 earnings per share. The company had revenue of $75.90 million for the quarter, compared to the consensus estimate of $76.60 million. The firm’s quarterly revenue was down 36.0% compared to the same quarter last year. On average, equities research analysts predict that InterDigital Inc. will post $3.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 13th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, July 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.22%.
In other news, Director Jean F. Rankin sold 950 shares of the firm’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $58.36, for a total transaction of $55,442.00. Following the transaction, the director now directly owns 19,639 shares of the company’s stock, valued at $1,146,132.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jannie K. Lau sold 6,132 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $59.50, for a total transaction of $364,854.00. Following the sale, the executive vice president now owns 19,169 shares of the company’s stock, valued at $1,140,555.50. The disclosure for this sale can be found here.
Other hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System raised its stake in InterDigital by 0.6% in the fourth quarter. California Public Employees Retirement System now owns 112,600 shares of the company’s stock worth $5,522,000 after buying an additional 700 shares in the last quarter. Marshall Wace LLP raised its stake in InterDigital by 250.4% in the fourth quarter. Marshall Wace LLP now owns 141,693 shares of the company’s stock worth $6,949,000 after buying an additional 101,256 shares in the last quarter. Trexquant Investment LP raised its stake in InterDigital by 87.4% in the fourth quarter. Trexquant Investment LP now owns 22,300 shares of the company’s stock worth $1,094,000 after buying an additional 10,400 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. raised its stake in InterDigital by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 23,163 shares of the company’s stock worth $1,137,000 after buying an additional 7,853 shares in the last quarter.
InterDigital, Inc (InterDigital) designs and develops advanced technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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