InterDigital (NASDAQ:IDCC) Rating Increased to Buy at StockNews.com

InterDigital (NASDAQ:IDCC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Separately, Jefferies Financial Group reissued a “hold” rating and set a $100.00 target price (down from $106.00) on shares of InterDigital in a research note on Monday, May 13th.

InterDigital Stock Down 0.4 %

Shares of IDCC stock traded down $0.58 during trading hours on Monday, reaching $135.65. 569,191 shares of the company’s stock were exchanged, compared to its average volume of 477,401. The stock’s 50 day moving average is $119.61 and its 200-day moving average is $109.70. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 1.18 and a beta of 1.42. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.11. InterDigital has a fifty-two week low of $74.65 and a fifty-two week high of $137.97.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.06. The business had revenue of $263.54 million for the quarter, compared to the consensus estimate of $250.15 million. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. Analysts predict that InterDigital will post 6.64 earnings per share for the current fiscal year.

Insider Buying and Selling at InterDigital

In other news, Director John D. Jr. Markley sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total transaction of $86,460.00. Following the completion of the sale, the director now owns 12,202 shares in the company, valued at approximately $1,406,646.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On InterDigital

A number of hedge funds have recently made changes to their positions in the stock. 1620 Investment Advisors Inc. purchased a new stake in shares of InterDigital during the 2nd quarter worth $29,000. Riverview Trust Co purchased a new stake in shares of InterDigital in the first quarter valued at about $31,000. GAMMA Investing LLC boosted its holdings in shares of InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after acquiring an additional 124 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 109 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in shares of InterDigital in the first quarter valued at about $64,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

About InterDigital

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.