BidaskClub downgraded shares of InterDigital Wireless (NASDAQ:IDCC) from a sell rating to a strong sell rating in a research note published on Saturday morning, BidAskClub reports.

Several other research firms have also commented on IDCC. TheStreet lowered shares of InterDigital Wireless from a b rating to a c rating in a report on Thursday, February 28th. Zacks Investment Research lowered shares of InterDigital Wireless from a buy rating to a hold rating in a report on Friday, March 1st. Finally, B. Riley set a $90.00 price target on shares of InterDigital Wireless and gave the company a buy rating in a report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $91.00.

Shares of IDCC stock opened at $63.95 on Friday. The stock has a market cap of $2.03 billion, a PE ratio of 74.36, a P/E/G ratio of 6.99 and a beta of 1.10. InterDigital Wireless has a 1-year low of $62.34 and a 1-year high of $85.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.95 and a current ratio of 1.95.

InterDigital Wireless (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The company had revenue of $68.63 million for the quarter, compared to analysts’ expectations of $70.19 million. InterDigital Wireless had a return on equity of 3.27% and a net margin of 10.79%. The company’s revenue was down 21.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. Analysts forecast that InterDigital Wireless will post 0.61 earnings per share for the current fiscal year.

In related news, Director Jean F. Rankin sold 680 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $64.84, for a total value of $44,091.20. Following the transaction, the director now owns 20,918 shares in the company, valued at $1,356,323.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider William J. Merritt sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $65.02, for a total transaction of $975,300.00. Following the completion of the transaction, the insider now owns 176,065 shares in the company, valued at approximately $11,447,746.30. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SEI Investments Co purchased a new position in InterDigital Wireless in the first quarter valued at approximately $36,000. Royce & Associates LP raised its holdings in InterDigital Wireless by 40.6% in the first quarter. Royce & Associates LP now owns 700 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 202 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in InterDigital Wireless in the fourth quarter valued at approximately $79,000. Penserra Capital Management LLC acquired a new stake in InterDigital Wireless in the first quarter valued at approximately $83,000. Finally, Cresset Asset Management LLC acquired a new stake in InterDigital Wireless in the first quarter valued at approximately $85,000. Hedge funds and other institutional investors own 74.36% of the company’s stock.

InterDigital Wireless Company Profile

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks.

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