InterDigital (NASDAQ:IDCC) Stock Rating Upgraded by StockNews.com

InterDigital (NASDAQ:IDCC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

Separately, Bank of America restated an “underperform” rating and issued a $100.00 target price (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st.

InterDigital Price Performance

IDCC traded up $0.23 during trading on Monday, reaching $100.94. 308,695 shares of the company were exchanged, compared to its average volume of 490,406. InterDigital has a 12-month low of $66.82 and a 12-month high of $119.86. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 0.82 and a beta of 1.34. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average is $102.42 and its two-hundred day moving average is $100.29.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $105.52 million during the quarter, compared to analyst estimates of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. Research analysts forecast that InterDigital will post 7.02 earnings per share for the current fiscal year.

Insider Transactions at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the sale, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the transaction, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the sale, the insider now owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On InterDigital

A number of large investors have recently added to or reduced their stakes in IDCC. Riverview Trust Co purchased a new stake in InterDigital during the first quarter valued at about $31,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in InterDigital during the 3rd quarter valued at about $68,000. Parkside Financial Bank & Trust grew its position in InterDigital by 12.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after acquiring an additional 114 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in InterDigital by 12.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after purchasing an additional 143 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in InterDigital by 11.6% in the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock valued at $107,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.