InterDigital Inc. (IDCC) Reaches New 1-Year 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 traded. The stock had previously closed at $68.92.
A number of equities research analysts have issued reports on the stock. B. Riley reissued a “buy” rating and issued a $73.00 price target on shares of InterDigital in a 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 price target on the stock in a report on Saturday, August 6th. Finally, TheStreet raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $66.75.
The company has a market cap of $2.38 billion and a PE ratio of 19.65. The firm’s 50 day moving average price is $61.90 and its 200 day moving average price is $56.32.
InterDigital (NASDAQ:IDCC) last issued its earnings results 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 prior year, the company posted $0.89 EPS. The company had revenue of $75.90 million for the quarter, compared to the consensus estimate of $76.60 million. InterDigital’s revenue was down 36.0% compared to the same quarter last year. On average, equities research analysts forecast that InterDigital Inc. will post $3.01 earnings per share for the current fiscal year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Monday, July 11th.
In related news, 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 sale, 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 SEC, which is available through the SEC website. Also, 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 sale, 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.
A hedge fund recently raised its stake in InterDigital stock. Trexquant Investment LP raised its position 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. 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 as of its most recent SEC filing.
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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