InterDigital Inc. (IDCC) Reaches New 1-Year High at $68.73
InterDigital Inc. (NASDAQ:IDCC) shares reached a new 52-week high during trading on Monday . The stock traded as high as $68.73 and last traded at $68.61, with a volume of 102,589 shares changing hands. The stock had previously closed at $67.94.
Several research analysts have recently commented on IDCC shares. TheStreet raised shares of InterDigital from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research raised shares of InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 price target for the company in a report on Saturday, August 6th. Finally, B. Riley reiterated a “buy” rating and issued a $69.00 price objective on shares of InterDigital in a research report on Friday, April 29th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. InterDigital currently has a consensus rating of “Buy” and a consensus target price of $66.75.
The stock has a market cap of $2.35 billion and a PE ratio of 19.41. The firm’s 50 day moving average is $58.75 and its 200 day moving average is $54.80.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.83. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The firm earned $75.90 million during the quarter, compared to analyst estimates of $76.60 million. InterDigital’s quarterly revenue was down 36.0% compared to the same quarter last year. Analysts predict that InterDigital Inc. will post $3.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Wednesday, July 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.17%. The ex-dividend date was Monday, July 11th.
In related news, EVP Jannie K. Lau sold 6,132 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $59.50, for a total transaction of $364,854.00. Following the completion of the transaction, the executive vice president now directly owns 19,169 shares in the company, valued at approximately $1,140,555.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jean F. Rankin sold 950 shares of the company’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $58.36, for a total transaction of $55,442.00. Following the transaction, the director now owns 19,639 shares of the company’s stock, valued at $1,146,132.04. The disclosure for this sale can be found here.
A number of institutional investors recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its position in InterDigital by 250.4% in the fourth quarter. Marshall Wace LLP now owns 141,693 shares of the company’s stock valued at $6,949,000 after buying an additional 101,256 shares during the last quarter. California Public Employees Retirement System boosted its position in InterDigital by 0.6% in the fourth quarter. California Public Employees Retirement System now owns 112,600 shares of the company’s stock valued at $5,522,000 after buying an additional 700 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in InterDigital by 87.4% in the fourth quarter. Trexquant Investment LP now owns 22,300 shares of the company’s stock valued at $1,094,000 after buying an additional 10,400 shares during 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.