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 trading hands. The stock had previously closed at $70.61.

IDCC has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and issued a $73.00 price objective on shares of InterDigital in a research report on Tuesday, August 9th. TheStreet upgraded InterDigital from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research cut InterDigital from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $66.75.

The company’s 50 day moving average is $64.13 and its 200-day moving average is $57.32. The stock has a market capitalization of $2.46 billion and a P/E ratio of 20.35.

InterDigital (NASDAQ:IDCC) last posted 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 quarter in the previous year, the company earned $0.89 earnings per share. The company earned $75.90 million during the quarter, compared to analyst estimates of $76.60 million. The business’s revenue for the quarter was down 36.0% on a year-over-year basis. Equities analysts predict that InterDigital Inc. will post $3.01 earnings per share for the current fiscal year.

In related news, EVP Jannie K. Lau sold 6,132 shares of the 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 in the company, valued at $1,140,555.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jean F. Rankin sold 950 shares of the stock in a transaction on Monday, June 13th. The shares were sold at an average price of $58.36, for a total value of $55,442.00. Following the completion of the sale, the director now owns 19,639 shares of the company’s stock, valued at $1,146,132.04. The disclosure for this sale can be found here.

InterDigital, Inc designs and develops 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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