InterDigital Inc. (IDCC) Stock Price Up 0.7%
InterDigital Inc. (NASDAQ:IDCC)’s share price rose 0.7% during mid-day trading on Wednesday . The stock traded as high as $71.20 and last traded at $71.13, with a volume of 147,505 shares traded. The stock had previously closed at $70.61.
IDCC has been the topic of several recent research reports. TheStreet raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note 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 objective on the stock in a research note on Saturday, August 6th. Finally, B. Riley reaffirmed a “buy” rating and issued a $69.00 price objective on shares of InterDigital in a research note on Wednesday, June 22nd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $66.75.
The firm has a 50-day moving average of $63.53 and a 200-day moving average of $57.21. The stock has a market cap of $2.45 billion and a price-to-earnings ratio of 20.20.
InterDigital (NASDAQ:IDCC) last issued its earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.83. The firm earned $75.90 million during the quarter, compared to analyst estimates of $76.60 million. The firm’s revenue for the quarter was down 36.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, analysts predict that InterDigital Inc. will post $3.01 EPS for the current year.
In related news, Director Jean F. Rankin sold 950 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,146,132.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jannie K. Lau sold 6,132 shares of the company’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $59.50, for a total transaction of $364,854.00. Following the transaction, the executive vice president now 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 InterDigital Inc. (NASDAQ:IDCC) by 87.4% during the fourth quarter, according to its most recent 13F 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 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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