InterDigital, Inc. (IDCC) Receives $97.00 Average Price Target from Brokerages

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Shares of InterDigital, Inc. (NASDAQ:IDCC) have been given an average recommendation of “Hold” by the seven analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $97.00.

A number of brokerages have recently commented on IDCC. ValuEngine lowered shares of InterDigital from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 3rd. BidaskClub lowered shares of InterDigital from a “sell” rating to a “strong sell” rating in a report on Thursday, September 20th. Finally, National Securities began coverage on shares of InterDigital in a report on Monday, July 23rd. They issued a “buy” rating and a $103.00 price target on the stock.

Shares of NASDAQ:IDCC traded down $0.95 during trading on Friday, reaching $71.75. The company had a trading volume of 2,870 shares, compared to its average volume of 238,599. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 2.85 and a beta of 0.98. InterDigital has a 12 month low of $69.32 and a 12 month high of $85.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 9.36 and a quick ratio of 9.36.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, August 2nd. The Wireless communications provider reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. The firm had revenue of $69.56 million for the quarter, compared to analyst estimates of $64.39 million. InterDigital had a net margin of 27.99% and a return on equity of 19.85%. The business’s revenue for the quarter was down 48.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, equities research analysts expect that InterDigital will post 1.73 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Wednesday, October 10th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, October 9th. InterDigital’s payout ratio is 23.10%.

In other news, EVP James J. Nolan sold 5,093 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $79.82, for a total value of $406,523.26. Following the transaction, the executive vice president now owns 39,560 shares of the company’s stock, valued at approximately $3,157,679.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in IDCC. Segall Bryant & Hamill LLC purchased a new stake in shares of InterDigital in the 2nd quarter valued at $23,853,000. Lord Abbett & CO. LLC purchased a new stake in InterDigital during the 1st quarter valued at $6,567,000. Russell Investments Group Ltd. boosted its position in InterDigital by 136.5% during the 1st quarter. Russell Investments Group Ltd. now owns 142,088 shares of the Wireless communications provider’s stock valued at $10,454,000 after buying an additional 82,001 shares during the period. Voya Investment Management LLC boosted its position in InterDigital by 126.3% during the 2nd quarter. Voya Investment Management LLC now owns 117,111 shares of the Wireless communications provider’s stock valued at $9,474,000 after buying an additional 65,371 shares during the period. Finally, Dean Investment Associates LLC purchased a new stake in InterDigital during the 2nd quarter valued at $4,313,000. 74.52% of the stock is owned by institutional investors.

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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