InterDigital Inc. (NASDAQ:IDCC)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $77.77 and last traded at $77.73, with a volume of 597,613 shares trading hands. The stock had previously closed at $76.57.
IDCC has been the topic of several research analyst reports. B. Riley reissued a “buy” rating and set a $69.00 target price on shares of InterDigital in a research note on Monday, June 27th. TheStreet raised InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Barclays PLC boosted their target price on InterDigital from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 9th. Finally, Zacks Investment Research cut InterDigital from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $73.75.
The firm has a 50 day moving average of $70.42 and a 200 day moving average of $59.74. The stock has a market cap of $2.66 billion, a P/E ratio of 21.99 and a beta of 1.11.
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InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.83. InterDigital had a return on equity of 20.08% and a net margin of 31.71%. The company earned $75.90 million during the quarter, compared to analyst estimates of $76.60 million. During the same period in the prior year, the company earned $0.89 earnings per share. The firm’s revenue was down 36.0% on a year-over-year basis. Equities analysts predict that InterDigital Inc. will post $4.82 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in InterDigital during the fourth quarter valued at about $21,109,000. Aperio Group LLC bought a new stake in InterDigital during the first quarter valued at about $255,000. Nisa Investment Advisors L.L.C. raised its stake in InterDigital by 7.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 5,900 shares of the company’s stock valued at $328,000 after buying an additional 400 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in InterDigital by 76.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 46,349 shares of the company’s stock valued at $2,579,000 after buying an additional 20,080 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in InterDigital by 4.0% in the first quarter. TIAA CREF Investment Management LLC now owns 147,922 shares of the company’s stock valued at $8,232,000 after buying an additional 5,702 shares during the last quarter. 69.14% of the stock is owned by institutional investors.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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