InterDigital (NASDAQ:IDCC) Research Coverage Started at Bank of America

Bank of America started coverage on shares of InterDigital (NASDAQ:IDCCGet Rating) in a report issued on Wednesday. The firm issued an underperform rating and a $60.00 price target on the Wireless communications provider’s stock.

Separately, StockNews.com downgraded shares of InterDigital from a strong-buy rating to a buy rating in a research report on Saturday, July 2nd.

InterDigital Stock Down 3.9 %

Shares of InterDigital stock opened at $59.11 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.45 and a quick ratio of 3.24. The company has a 50-day moving average of $62.38 and a 200 day moving average of $62.92. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.49 and a beta of 0.98. InterDigital has a 1 year low of $56.13 and a 1 year high of $75.25.

InterDigital (NASDAQ:IDCCGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The Wireless communications provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.37 by $0.21. InterDigital had a net margin of 18.11% and a return on equity of 11.88%. The company had revenue of $101.32 million for the quarter, compared to the consensus estimate of $97.85 million. During the same period in the prior year, the firm posted $0.18 EPS. InterDigital’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, sell-side analysts anticipate that InterDigital will post 2.76 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 13th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Tuesday, July 12th. InterDigital’s payout ratio is presently 50.00%.

Insider Activity

In other news, insider Eeva K. Hakoranta sold 1,595 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $61.44, for a total transaction of $97,996.80. Following the sale, the insider now owns 20,608 shares of the company’s stock, valued at approximately $1,266,155.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Eeva K. Hakoranta sold 1,595 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $61.44, for a total transaction of $97,996.80. Following the sale, the insider now owns 20,608 shares of the company’s stock, valued at approximately $1,266,155.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jean F. Rankin sold 814 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $66.83, for a total transaction of $54,399.62. Following the sale, the director now directly owns 28,441 shares in the company, valued at approximately $1,900,712.03. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On InterDigital

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC purchased a new position in shares of InterDigital in the fourth quarter worth approximately $27,000. Evolution Advisers Inc. purchased a new position in shares of InterDigital in the fourth quarter worth approximately $28,000. Cornerstone Advisory LLC purchased a new position in shares of InterDigital in the fourth quarter worth approximately $29,000. Confluence Wealth Services Inc. purchased a new position in shares of InterDigital in the fourth quarter worth approximately $43,000. Finally, Larson Financial Group LLC purchased a new position in shares of InterDigital in the fourth quarter worth approximately $90,000. Hedge funds and other institutional investors own 82.04% of the company’s stock.

About InterDigital

(Get Rating)

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.

Featured Articles

Receive News & Ratings for InterDigital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital and related companies with MarketBeat.com's FREE daily email newsletter.