InterDigital Inc. (IDCC) Reaches New 52-Week High at $68.73
InterDigital Inc. (NASDAQ:IDCC)’s share price hit a new 52-week high on Monday . The company traded as high as $68.73 and last traded at $68.61, with a volume of 102,589 shares. The stock had previously closed at $67.94.
Several equities analysts have weighed in on the company. Zacks Investment Research cut InterDigital from a “hold” rating to a “sell” rating in a research note on Wednesday, April 20th. B. Riley reaffirmed a “buy” rating and set a $69.00 target price on shares of InterDigital in a research note on Friday, April 29th. Finally, TheStreet cut InterDigital from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $66.75.
The stock has a market capitalization of $2.33 billion and a price-to-earnings ratio of 19.27. The stock’s 50 day moving average is $59.61 and its 200 day moving average is $55.31.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.83. The firm had revenue of $75.90 million for the quarter, compared to analyst estimates of $76.60 million. The company’s revenue was down 36.0% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. Equities research analysts anticipate 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. Shareholders of record on Wednesday, July 13th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Monday, July 11th.
In other InterDigital news, Director Jean F. Rankin sold 950 shares of the stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $58.36, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jannie K. Lau sold 6,132 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $59.50, for a total value 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 disclosure for this sale can be found here.
An institutional investor recently raised its position in InterDigital stock. Trexquant Investment LP increased its stake in shares of InterDigital Inc. (NASDAQ:IDCC) by 87.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,300 shares of the company’s stock after buying an additional 10,400 shares during the period. Trexquant Investment LP owned approximately 0.06% of InterDigital worth $1,094,000 at the end of the most recent reporting period.
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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