InterDigital (NASDAQ:IDCC) Raised to Buy at StockNews.com

StockNews.com upgraded shares of InterDigital (NASDAQ:IDCC) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Separately, Roth Mkm boosted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th.

InterDigital Price Performance

IDCC opened at $154.17 on Tuesday. The company has a 50-day moving average of $139.82 and a 200-day moving average of $122.26. The company has a market capitalization of $3.89 billion, a P/E ratio of 22.67, a PEG ratio of 0.94 and a beta of 1.39. InterDigital has a 1-year low of $74.65 and a 1-year high of $157.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $0.43 by $3.77. The company had revenue of $223.49 million during the quarter, compared to the consensus estimate of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. Equities analysts expect that InterDigital will post 9.04 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Wednesday, October 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is currently 26.47%.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the transaction, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,205 shares of company stock valued at $716,218 in the last quarter. Insiders own 2.30% of the company’s stock.

Institutional Trading of InterDigital

A number of institutional investors have recently made changes to their positions in the stock. Raymond James & Associates lifted its stake in shares of InterDigital by 3.2% in the 3rd quarter. Raymond James & Associates now owns 35,359 shares of the Wireless communications provider’s stock worth $5,008,000 after acquiring an additional 1,099 shares during the period. Blue Trust Inc. lifted its stake in shares of InterDigital by 9.4% in the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock worth $166,000 after acquiring an additional 101 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of InterDigital in the 3rd quarter worth approximately $26,000. Cardinal Capital Management lifted its stake in shares of InterDigital by 10.2% in the 3rd quarter. Cardinal Capital Management now owns 13,888 shares of the Wireless communications provider’s stock worth $1,967,000 after acquiring an additional 1,291 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in shares of InterDigital by 16.1% in the 3rd quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider’s stock worth $3,445,000 after acquiring an additional 3,381 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.

About InterDigital

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.