InterDigital, Inc. (NASDAQ:IDCC) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

Several other equities analysts have also recently commented on IDCC. B. Riley reissued a “buy” rating and set a $100.00 target price on shares of InterDigital in a research report on Thursday, May 4th. Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday. Benchmark Co. assumed coverage on shares of InterDigital in a research report on Tuesday, April 25th. They set a “hold” rating on the stock. Zacks Investment Research raised shares of InterDigital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, BidaskClub cut shares of InterDigital from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. InterDigital has a consensus rating of “Hold” and a consensus target price of $92.50.

InterDigital (NASDAQ IDCC) opened at 69.65 on Friday. InterDigital has a 52-week low of $67.04 and a 52-week high of $102.30. The firm has a market cap of $2.42 billion, a P/E ratio of 7.59 and a beta of 1.00. The stock has a 50 day moving average price of $76.53 and a 200 day moving average price of $84.30.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.05. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. The firm had revenue of $135.78 million for the quarter, compared to analysts’ expectations of $133.69 million. During the same quarter last year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. Equities analysts predict that InterDigital will post $3.59 earnings per share for the current fiscal year.

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In related news, EVP James J. Nolan sold 2,294 shares of InterDigital stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.30, for a total value of $163,562.20. Following the sale, the executive vice president now owns 54,042 shares of the company’s stock, valued at approximately $3,853,194.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott A. Mcquilkin sold 500 shares of InterDigital stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $79.15, for a total transaction of $39,575.00. Following the completion of the sale, the executive vice president now directly owns 79,768 shares in the company, valued at approximately $6,313,637.20. The disclosure for this sale can be found here. Insiders sold a total of 3,594 shares of company stock worth $270,649 in the last ninety days. 1.90% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Tyers Asset Management LLC boosted its stake in InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock worth $101,000 after buying an additional 32 shares during the period. Financial Architects Inc boosted its stake in InterDigital by 180.0% in the second quarter. Financial Architects Inc now owns 1,400 shares of the Wireless communications provider’s stock worth $108,000 after buying an additional 900 shares during the period. Riverhead Capital Management LLC boosted its stake in InterDigital by 74.6% in the second quarter. Riverhead Capital Management LLC now owns 1,397 shares of the Wireless communications provider’s stock worth $108,000 after buying an additional 597 shares during the period. TrimTabs Asset Management LLC boosted its stake in InterDigital by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the Wireless communications provider’s stock worth $117,000 after buying an additional 640 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in InterDigital by 17.5% in the second quarter. Victory Capital Management Inc. now owns 1,616 shares of the Wireless communications provider’s stock worth $125,000 after buying an additional 241 shares during the period. 69.33% of the stock is currently owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for InterDigital (NASDAQ:IDCC)

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