InterDigital, Inc. (IDCC) Receives $91.33 Consensus PT from Analysts
InterDigital, Inc. (NASDAQ:IDCC) has received a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $91.33.
IDCC has been the topic of a number of research analyst reports. BidaskClub lowered shares of InterDigital from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of InterDigital from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Benchmark Co. initiated coverage on shares of InterDigital in a report on Tuesday, April 25th. They set a “hold” rating on the stock. ValuEngine upgraded shares of InterDigital from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 25th. Finally, B. Riley upgraded shares of InterDigital from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $100.00 in a report on Monday, April 24th.
Shares of InterDigital (NASDAQ IDCC) traded up 0.70% during trading on Friday, hitting $79.10. The stock had a trading volume of 182,848 shares. The stock’s 50-day moving average price is $79.69 and its 200 day moving average price is $85.72. InterDigital has a one year low of $57.89 and a one year high of $102.30. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 8.90 and a beta of 1.01.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, April 27th. The Wireless communications provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.22. InterDigital had a net margin of 48.22% and a return on equity of 43.97%. The business had revenue of $94.53 million for the quarter, compared to analyst estimates of $92.90 million. During the same period last year, the business posted $0.79 earnings per share. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. On average, equities analysts forecast that InterDigital will post $3.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, July 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.52%. InterDigital’s payout ratio is 13.47%.
In related news, EVP James J. Nolan sold 8,596 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $83.83, for a total value of $720,602.68. Following the completion of the transaction, the executive vice president now owns 57,149 shares of the company’s stock, valued at $4,790,800.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lawrence F. Shay sold 8,000 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $85.88, for a total transaction of $687,040.00. Following the completion of the transaction, the executive vice president now directly owns 48,458 shares of the company’s stock, valued at approximately $4,161,573.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,896 shares of company stock valued at $1,514,730. 1.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDCC. Profund Advisors LLC increased its position in InterDigital by 11.5% in the first quarter. Profund Advisors LLC now owns 11,790 shares of the Wireless communications provider’s stock worth $1,017,000 after buying an additional 1,213 shares during the period. Sigma Planning Corp increased its position in InterDigital by 1.0% in the first quarter. Sigma Planning Corp now owns 10,459 shares of the Wireless communications provider’s stock worth $903,000 after buying an additional 106 shares during the period. Nationwide Fund Advisors increased its position in InterDigital by 0.9% in the first quarter. Nationwide Fund Advisors now owns 129,170 shares of the Wireless communications provider’s stock worth $11,147,000 after buying an additional 1,134 shares during the period. James Investment Research Inc. acquired a new position in InterDigital during the first quarter worth $1,682,000. Finally, Navellier & Associates Inc increased its position in InterDigital by 7.6% in the first quarter. Navellier & Associates Inc now owns 12,965 shares of the Wireless communications provider’s stock worth $1,119,000 after buying an additional 917 shares during the period. 69.31% of the stock is owned by institutional investors and hedge funds.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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