InterDigital, Inc. (NASDAQ:IDCC)‘s stock had its “buy” rating reaffirmed by investment analysts at B. Riley in a report released on Wednesday. They currently have a $100.00 target price on the Wireless communications provider’s stock. B. Riley’s price objective points to a potential upside of 42.05% from the company’s current price.

Several other research analysts have also commented on IDCC. ValuEngine lowered InterDigital from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Sidoti raised InterDigital from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research raised InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Friday, August 18th. Benchmark Co. began coverage on InterDigital in a report on Tuesday, April 25th. They set a “hold” rating for the company. Finally, BidaskClub lowered InterDigital from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $87.75.

Shares of InterDigital (NASDAQ IDCC) traded down 0.36% during mid-day trading on Wednesday, hitting $70.15. 26,774 shares of the stock traded hands. InterDigital has a one year low of $67.55 and a one year high of $102.30. The firm has a market capitalization of $2.43 billion, a P/E ratio of 7.65 and a beta of 1.00. The company’s 50 day moving average is $73.99 and its 200 day moving average is $82.68.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.05. InterDigital had a return on equity of 44.58% and a net margin of 45.92%. The company had revenue of $135.78 million during the quarter, compared to analyst estimates of $133.69 million. During the same quarter in the previous year, the firm earned $1.14 earnings per share. InterDigital’s revenue was up 78.8% on a year-over-year basis. On average, equities analysts expect that InterDigital will post $3.61 EPS for the current fiscal year.

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In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $79.15, for a total value of $39,575.00. Following the completion of the sale, the executive vice president now owns 79,768 shares of the company’s stock, valued at $6,313,637.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey K. Belk sold 800 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $84.39, for a total value of $67,512.00. Following the completion of the sale, the director now directly owns 17,801 shares of the company’s stock, valued at approximately $1,502,226.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,594 shares of company stock valued at $270,649. 1.90% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the company. Tyers Asset Management LLC raised its stake in shares of InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock valued at $101,000 after buying an additional 32 shares in the last quarter. Financial Architects Inc raised its stake in shares of InterDigital by 180.0% in the second quarter. Financial Architects Inc now owns 1,400 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 900 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of InterDigital by 74.6% in the second quarter. Riverhead Capital Management LLC now owns 1,397 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 597 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in shares of InterDigital by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the Wireless communications provider’s stock valued at $117,000 after buying an additional 640 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in shares of InterDigital during the second quarter valued at about $118,000. 68.49% of the stock is owned by institutional investors and hedge funds.

InterDigital Company Profile

InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.

Analyst Recommendations for InterDigital (NASDAQ:IDCC)

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