A number of other brokerages have also recently commented on IDCC. B. Riley restated a neutral rating and set a $80.00 price target on shares of InterDigital in a research note on Saturday, October 1st. Zacks Investment Research upgraded shares of InterDigital from a sell rating to a strong-buy rating and set a $75.00 price target on the stock in a research note on Saturday, August 6th. Finally, Barclays PLC restated an equal weight rating and set a $80.00 price target (up from $75.00) on shares of InterDigital in a research note on Friday, September 23rd. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $78.33.
Shares of InterDigital (NASDAQ:IDCC) traded up 0.29% during trading on Wednesday, hitting $78.56. The stock had a trading volume of 59,424 shares. The company has a market capitalization of $2.69 billion, a P/E ratio of 22.22 and a beta of 0.73. InterDigital has a 1-year low of $41.01 and a 1-year high of $79.97. The firm has a 50-day moving average of $73.84 and a 200 day moving average of $61.57.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.83. The company had revenue of $75.90 million for the quarter, compared to analysts’ expectations of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. InterDigital’s revenue was down 36.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 EPS. Equities research analysts predict that InterDigital will post $4.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, October 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. This is a boost from InterDigital’s previous quarterly dividend of $0.20. InterDigital’s dividend payout ratio (DPR) is 22.66%.
Hedge funds have recently bought and sold shares of the stock. Ulysses Management LLC boosted its stake in InterDigital by 4.2% in the first quarter. Ulysses Management LLC now owns 495,000 shares of the company’s stock valued at $27,547,000 after buying an additional 20,000 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in InterDigital by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,034,062 shares of the company’s stock valued at $57,546,000 after buying an additional 13,188 shares in the last quarter. Aperio Group LLC acquired a new position in InterDigital during the first quarter valued at approximately $255,000. HL Financial Services LLC raised its position in InterDigital by 0.6% in the second quarter. HL Financial Services LLC now owns 4,755 shares of the company’s stock valued at $265,000 after buying an additional 27 shares in the last quarter. Finally, Nomura Holdings Inc. raised its position in InterDigital by 1,495.2% in the second quarter. Nomura Holdings Inc. now owns 143,660 shares of the company’s stock valued at $8,024,000 after buying an additional 134,654 shares in the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.
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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