InterDigital (IDCC) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of InterDigital (NASDAQ:IDCC) from a sell rating to a hold rating in a research note published on Saturday morning.

Other analysts have also issued research reports about the company. Zacks Investment Research lowered InterDigital from a strong-buy rating to a hold rating in a report on Wednesday, February 7th. B. Riley restated a buy rating and issued a $100.00 target price on shares of InterDigital in a research note on Wednesday, January 3rd. Finally, Dougherty & Co upgraded InterDigital from a neutral rating to a buy rating and set a $87.00 target price for the company in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $88.67.

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Shares of IDCC opened at $75.40 on Friday. InterDigital has a 12 month low of $67.55 and a 12 month high of $93.00. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.33. The firm has a market cap of $2,610.88, a PE ratio of 12.44 and a beta of 0.93.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, February 22nd. The Wireless communications provider reported $2.68 EPS for the quarter, beating the consensus estimate of $1.08 by $1.60. InterDigital had a return on equity of 26.52% and a net margin of 32.70%. The firm had revenue of $205.30 million during the quarter, compared to analyst estimates of $191.42 million. During the same quarter in the prior year, the business posted $3.85 EPS. The business’s revenue for the quarter was down 25.0% compared to the same quarter last year. analysts forecast that InterDigital will post 1.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 23rd will be paid a $0.35 dividend. The ex-dividend date is Friday, April 20th. This represents a $1.40 dividend on an annualized basis and a yield of 1.86%. InterDigital’s dividend payout ratio (DPR) is 23.10%.

A number of hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in InterDigital by 57.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,815 shares of the Wireless communications provider’s stock worth $138,000 after acquiring an additional 664 shares during the last quarter. Jane Street Group LLC raised its stake in InterDigital by 8.1% in the 4th quarter. Jane Street Group LLC now owns 9,769 shares of the Wireless communications provider’s stock worth $744,000 after acquiring an additional 729 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in InterDigital by 3.4% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 24,420 shares of the Wireless communications provider’s stock worth $1,801,000 after acquiring an additional 802 shares during the last quarter. ING Groep NV raised its stake in InterDigital by 23.2% in the 4th quarter. ING Groep NV now owns 5,238 shares of the Wireless communications provider’s stock worth $399,000 after acquiring an additional 987 shares during the last quarter. Finally, Swiss National Bank raised its stake in InterDigital by 1.7% in the 4th quarter. Swiss National Bank now owns 58,500 shares of the Wireless communications provider’s stock worth $4,455,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 74.16% of the company’s stock.

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About InterDigital

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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