InterDigital (NASDAQ:IDCC) has been assigned a $90.00 price target by equities researchers at B. Riley in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the Wireless communications provider’s stock. B. Riley’s price target suggests a potential upside of 24.98% from the stock’s current price.
IDCC has been the topic of a number of other research reports. ValuEngine raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. TheStreet lowered shares of InterDigital from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. Finally, BidaskClub raised shares of InterDigital from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 6th. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. InterDigital presently has a consensus rating of “Hold” and a consensus target price of $93.60.
Shares of IDCC opened at $72.01 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 4.06 and a current ratio of 4.06. InterDigital has a twelve month low of $68.22 and a twelve month high of $85.85. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 2.41 and a beta of 1.14.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, November 1st. The Wireless communications provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.36. InterDigital had a net margin of 26.19% and a return on equity of 17.50%. The firm had revenue of $75.08 million for the quarter, compared to analyst estimates of $72.59 million. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The business’s revenue was down 22.9% on a year-over-year basis. Analysts anticipate that InterDigital will post 2.05 earnings per share for the current year.
In other news, EVP James J. Nolan sold 5,093 shares of InterDigital stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $79.82, for a total value of $406,523.26. Following the sale, the executive vice president now directly owns 39,560 shares in the company, valued at $3,157,679.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James & Associates acquired a new stake in shares of InterDigital in the second quarter valued at approximately $210,000. Oakbrook Investments LLC acquired a new stake in shares of InterDigital in the third quarter valued at approximately $212,000. Itau Unibanco Holding S.A. acquired a new stake in shares of InterDigital in the second quarter valued at approximately $262,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of InterDigital in the second quarter valued at approximately $263,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of InterDigital by 106.3% in the third quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the Wireless communications provider’s stock valued at $264,000 after purchasing an additional 1,702 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers 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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