InterDigital Inc. (IDCC) Hits New 12-Month High at $69.29
InterDigital Inc. (NASDAQ:IDCC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $69.29 and last traded at $69.23, with a volume of 133,873 shares trading hands. The stock had previously closed at $68.92.
A number of brokerages have recently issued reports on IDCC. B. Riley reissued a “buy” rating and issued a $73.00 target price on shares of InterDigital in a research report on Tuesday, August 9th. Zacks Investment Research raised shares of 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, August 6th. Finally, TheStreet raised shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. InterDigital currently has a consensus rating of “Buy” and an average price target of $66.75.
The firm has a 50 day moving average of $61.26 and a 200-day moving average of $56.03. The stock has a market capitalization of $2.37 billion and a price-to-earnings ratio of 19.56.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.83. The company earned $75.90 million during the quarter, compared to analysts’ expectations of $76.60 million. During the same period in the previous year, the company posted $0.89 earnings per share. The company’s quarterly revenue was down 36.0% compared to the same quarter last year. Equities analysts expect that InterDigital Inc. will post $3.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Wednesday, July 13th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Monday, July 11th.
In other news, Director Jean F. Rankin sold 950 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $58.36, for a total transaction of $55,442.00. Following the completion of the sale, the director now directly owns 19,639 shares of the company’s stock, valued at approximately $1,146,132.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jannie K. Lau sold 6,132 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $59.50, for a total value of $364,854.00. Following the sale, the executive vice president now directly owns 19,169 shares of the company’s stock, valued at $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 raised its stake in shares of InterDigital Inc. (NASDAQ:IDCC) by 87.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,300 shares of the company’s stock after buying an additional 10,400 shares during the period. Trexquant Investment LP owned 0.06% of InterDigital worth $1,094,000 at the end of the most recent 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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