InterDigital Inc. (IDCC) Sets New 52-Week High at $70.43
InterDigital Inc. (NASDAQ:IDCC) hit a new 52-week high on Monday . The company traded as high as $70.43 and last traded at $70.31, with a volume of 115,177 shares traded. The stock had previously closed at $69.82.
A number of equities research analysts recently weighed in on IDCC shares. TheStreet upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 price objective for the company in a research note on Saturday, August 6th. Finally, B. Riley restated a “buy” rating and set a $69.00 price objective on shares of InterDigital in a research note on Wednesday, June 22nd. One research 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 company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $66.75.
The firm has a market capitalization of $2.42 billion and a P/E ratio of 19.97. The company’s 50 day moving average price is $63.53 and its 200-day moving average price is $57.21.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.83. During the same period 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. The company’s quarterly revenue was down 36.0% compared to the same quarter last year. On average, equities analysts predict that InterDigital Inc. will post $3.01 EPS for the current year.
In other news, EVP Jannie K. Lau sold 6,132 shares of InterDigital stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $59.50, for a total value of $364,854.00. Following the completion of the sale, the executive vice president now directly owns 19,169 shares of the company’s stock, valued at $1,140,555.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jean F. Rankin sold 950 shares of the business’s stock in a transaction on 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 directly owns 19,639 shares of the company’s stock, valued at $1,146,132.04. 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 InterDigital Inc. (NASDAQ:IDCC) by 87.4% during the fourth quarter, according to its most recent disclosure with the 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 about 0.06% of InterDigital worth $1,094,000 as of its most recent filing with the SEC.
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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