InterDigital Inc. (IDCC) Hits New 12-Month High at $72.15
Shares of InterDigital Inc. (NASDAQ:IDCC) reached a new 52-week high during trading on Monday . The company traded as high as $72.15 and last traded at $71.96, with a volume of 259,300 shares. The stock had previously closed at $71.53.
IDCC has been the topic of a number of research analyst reports. B. Riley reiterated a “buy” rating and set a $73.00 target price 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 report on Thursday, June 30th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. InterDigital currently has a consensus rating of “Buy” and a consensus target price of $66.75.
The company has a market cap of $2.46 billion and a PE ratio of 20.36. The stock’s 50-day moving average is $64.77 and its 200 day moving average is $57.52.
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 analysts’ consensus estimates of $0.31 by $0.83. The firm 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 earned $0.89 earnings per share. The business’s quarterly revenue was down 36.0% on a year-over-year basis. On average, equities analysts expect that InterDigital Inc. will post $3.01 earnings per share for the current fiscal year.
In other InterDigital 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 value of $55,442.00. Following the completion of the transaction, the director now directly owns 19,639 shares of the company’s stock, valued at approximately $1,146,132.04. The transaction was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $59.50, for a total transaction of $364,854.00. Following the completion of the transaction, 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.
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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