InterDigital (NASDAQ:IDCC) Upgraded at StockNews.com

StockNews.com upgraded shares of InterDigital (NASDAQ:IDCC) from a hold rating to a buy rating in a research note released on Monday morning.

Separately, Bank of America reiterated an underperform rating and set a $100.00 target price (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st.

InterDigital Price Performance

Shares of IDCC stock opened at $97.90 on Monday. The firm has a fifty day moving average of $102.18 and a two-hundred day moving average of $100.42. The firm has a market cap of $2.48 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.82 and a beta of 1.34. InterDigital has a 1-year low of $66.82 and a 1-year high of $119.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The business had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. As a group, research analysts anticipate that InterDigital will post 7.02 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is presently 21.33%.

Insider Transactions at InterDigital

In related news, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the transaction, the insider now owns 29,984 shares in the company, valued at approximately $2,871,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the sale, the insider now directly owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the transaction, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its holdings in InterDigital by 8.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 374,348 shares of the Wireless communications provider’s stock worth $30,038,000 after buying an additional 28,176 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of InterDigital by 0.8% during the third quarter. Brown Advisory Inc. now owns 36,839 shares of the Wireless communications provider’s stock valued at $2,956,000 after purchasing an additional 299 shares during the period. New York State Teachers Retirement System raised its stake in shares of InterDigital by 2.1% during the third quarter. New York State Teachers Retirement System now owns 28,634 shares of the Wireless communications provider’s stock valued at $2,298,000 after purchasing an additional 596 shares in the last quarter. Inspire Advisors LLC bought a new stake in shares of InterDigital during the third quarter valued at about $356,000. Finally, Inspire Investing LLC lifted its holdings in InterDigital by 17.9% in the third quarter. Inspire Investing LLC now owns 3,839 shares of the Wireless communications provider’s stock worth $308,000 after purchasing an additional 582 shares during the period. Institutional investors own 99.83% of the company’s stock.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.