InterDigital (NASDAQ:IDCC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “InterDigital’s global footprint, diversified portfolio and ability to penetrate in different markets are commendable. The acquisition of the patent licensing business of Technicolor is likely to provide it with an enhanced portfolio of video technologies while opening up new opportunities in the consumer electronics market. The company’s commitment toward licensing its broad portfolio of technologies to wireless terminal equipment makers, allowing it to expand its core market, is noteworthy. The stock has outperformed the industry in the past three months on an average. However, the trade restrictions imposed on the sale of communication equipment and technology solutions to Chinese firms are likely to hurt its overall performance. Decline in return on capital despite rise in capital spending and capitalized patent costs is a concern for InterDigital. The company’s policy of acquiring companies adds to the integration risks.”

A number of other research analysts also recently issued reports on the company. BidaskClub downgraded InterDigital from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Sidoti initiated coverage on InterDigital in a research note on Thursday, January 3rd. They issued a “buy” rating for the company. B. Riley set a $90.00 price objective on InterDigital and gave the company a “buy” rating in a research note on Wednesday, December 12th. TheStreet downgraded InterDigital from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. Finally, ValuEngine upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $93.20.

Shares of NASDAQ:IDCC opened at $72.70 on Thursday. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 2.95 and a beta of 1.23. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.31. InterDigital has a 1 year low of $62.34 and a 1 year high of $85.85.

In other news, CEO William J. Merritt sold 15,000 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $71.62, for a total transaction of $1,074,300.00. Following the transaction, the chief executive officer now owns 156,549 shares of the company’s stock, valued at approximately $11,212,039.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of IDCC. Ffcm LLC lifted its position in shares of InterDigital by 235.0% during the 4th quarter. Ffcm LLC now owns 1,953 shares of the Wireless communications provider’s stock valued at $130,000 after buying an additional 1,370 shares during the last quarter. Bank of Montreal Can lifted its position in shares of InterDigital by 22.0% during the 4th quarter. Bank of Montreal Can now owns 3,023 shares of the Wireless communications provider’s stock valued at $201,000 after buying an additional 546 shares during the last quarter. Raymond James & Associates purchased a new position in shares of InterDigital during the 2nd quarter valued at $210,000. Oakbrook Investments LLC purchased a new position in shares of InterDigital during the 3rd quarter valued at $212,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of InterDigital by 106.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the Wireless communications provider’s stock valued at $264,000 after buying an additional 1,702 shares during the last quarter. 74.96% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Company Profile

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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