InterDigital (NASDAQ:IDCC) Shares Gap Down to $60.78

Shares of InterDigital, Inc. (NASDAQ:IDCCGet Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $60.78, but opened at $58.21. InterDigital shares last traded at $59.89, with a volume of 990 shares trading hands.

IDCC has been the subject of several analyst reports. StockNews.com began coverage on shares of InterDigital in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. TheStreet upgraded InterDigital from a “c+” rating to a “b” rating in a report on Friday, February 18th. Finally, Zacks Investment Research upgraded InterDigital from a “hold” rating to a “strong-buy” rating and set a $68.00 price target for the company in a report on Tuesday, May 10th.

The stock has a market cap of $1.84 billion, a PE ratio of 28.14, a PEG ratio of 1.22 and a beta of 1.05. The stock has a fifty day simple moving average of $61.12 and a two-hundred day simple moving average of $65.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.24 and a current ratio of 3.24.

InterDigital (NASDAQ:IDCCGet Rating) last released its quarterly earnings results on Thursday, May 5th. The Wireless communications provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.21. The firm had revenue of $101.32 million during the quarter, compared to analysts’ expectations of $97.85 million. InterDigital had a return on equity of 10.55% and a net margin of 15.24%. InterDigital’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. On average, equities analysts predict that InterDigital, Inc. will post 3.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 27th. Shareholders of record on Wednesday, April 13th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Tuesday, April 12th. InterDigital’s dividend payout ratio is presently 64.82%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDCC. Dynamic Technology Lab Private Ltd acquired a new position in shares of InterDigital in the 1st quarter valued at approximately $1,583,000. PDT Partners LLC boosted its stake in shares of InterDigital by 48.5% during the 1st quarter. PDT Partners LLC now owns 5,819 shares of the Wireless communications provider’s stock valued at $371,000 after buying an additional 1,900 shares during the last quarter. S&T Bank PA boosted its stake in shares of InterDigital by 2.6% during the 1st quarter. S&T Bank PA now owns 118,696 shares of the Wireless communications provider’s stock valued at $7,573,000 after buying an additional 2,993 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of InterDigital by 242.1% during the 1st quarter. Captrust Financial Advisors now owns 3,855 shares of the Wireless communications provider’s stock valued at $246,000 after buying an additional 2,728 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of InterDigital by 1.5% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 789,658 shares of the Wireless communications provider’s stock valued at $50,380,000 after buying an additional 11,400 shares during the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.

About InterDigital (NASDAQ:IDCC)

InterDigital, Inc, together with its subsidiaries, designs and develops technologies that enable and enhance wireless communications in the United States, China, South Korea, Japan, Taiwan, and Europe. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.

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