InterDigital (IDCC) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of InterDigital (NASDAQ:IDCC) from a strong sell rating to a sell rating in a research note released on Monday.

IDCC has been the topic of several other research reports. B. Riley restated a buy rating and issued a $100.00 price target on shares of InterDigital in a research report on Monday, December 4th. Zacks Investment Research upgraded shares of InterDigital from a hold rating to a buy rating and set a $82.00 price target on the stock in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded shares of InterDigital from a hold rating to a buy rating in a research report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. InterDigital currently has an average rating of Hold and an average price target of $93.67.

Shares of InterDigital (IDCC) opened at $77.80 on Monday. InterDigital has a 1 year low of $67.55 and a 1 year high of $102.30. The firm has a market cap of $2,723.11, a price-to-earnings ratio of 10.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.22 and a quick ratio of 3.22.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, January 9th. InterDigital’s dividend payout ratio (DPR) is 19.34%.

In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $76.50, for a total transaction of $38,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP James J. Nolan sold 5,020 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $75.00, for a total transaction of $376,500.00. Following the transaction, the executive vice president now owns 49,063 shares in the company, valued at approximately $3,679,725. The disclosure for this sale can be found here. Insiders have sold 6,020 shares of company stock worth $453,000 in the last quarter. Company insiders own 1.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc bought a new position in InterDigital during the second quarter valued at $118,000. Cerebellum GP LLC bought a new position in shares of InterDigital in the fourth quarter worth about $127,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of InterDigital by 57.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,815 shares of the Wireless communications provider’s stock worth $138,000 after purchasing an additional 664 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of InterDigital by 107.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,182 shares of the Wireless communications provider’s stock worth $160,000 after purchasing an additional 1,129 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of InterDigital by 29.5% in the second quarter. Advisor Group Inc. now owns 2,342 shares of the Wireless communications provider’s stock worth $181,000 after purchasing an additional 534 shares during the last quarter. Institutional investors and hedge funds own 68.91% of the company’s stock.

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About InterDigital

InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.

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