B. Riley Reaffirms “Buy” Rating for InterDigital Wireless (NASDAQ:IDCC)

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InterDigital Wireless (NASDAQ:IDCC)‘s stock had its “buy” rating restated by investment analysts at B. Riley in a research report issued on Thursday, TipRanks reports. They currently have a $90.00 price objective on the Wireless communications provider’s stock. B. Riley’s target price suggests a potential upside of 97.93% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of InterDigital Wireless from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 27th. BidaskClub downgraded shares of InterDigital Wireless from a “sell” rating to a “strong sell” rating in a report on Saturday, March 7th.

NASDAQ:IDCC opened at $45.47 on Thursday. The company has a market capitalization of $1.29 billion, a P/E ratio of 68.89, a price-to-earnings-growth ratio of 2.57 and a beta of 0.94. InterDigital Wireless has a twelve month low of $31.04 and a twelve month high of $72.66. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $50.86 and a two-hundred day moving average price of $54.26.

InterDigital Wireless (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, February 20th. The Wireless communications provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.17. The business had revenue of $102.16 million during the quarter, compared to the consensus estimate of $74.10 million. InterDigital Wireless had a net margin of 6.56% and a return on equity of 2.60%. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, equities research analysts predict that InterDigital Wireless will post 1.03 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Roubaix Capital LLC acquired a new position in InterDigital Wireless during the fourth quarter valued at approximately $2,678,000. Boston Partners lifted its position in shares of InterDigital Wireless by 17.5% during the third quarter. Boston Partners now owns 44,290 shares of the Wireless communications provider’s stock worth $2,324,000 after purchasing an additional 6,601 shares in the last quarter. Millennium Management LLC lifted its position in shares of InterDigital Wireless by 2,350.2% during the third quarter. Millennium Management LLC now owns 335,608 shares of the Wireless communications provider’s stock worth $17,609,000 after purchasing an additional 321,911 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of InterDigital Wireless during the third quarter worth $2,869,000. Finally, Point72 Asset Management L.P. lifted its position in shares of InterDigital Wireless by 650.0% during the third quarter. Point72 Asset Management L.P. now owns 3,000 shares of the Wireless communications provider’s stock worth $157,000 after purchasing an additional 2,600 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

About InterDigital Wireless

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides 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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