BidaskClub lowered shares of InterDigital (NASDAQ:IDCC) from a sell rating to a strong sell rating in a report released on Thursday.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded InterDigital from a hold rating to a strong sell rating in a research report on Monday, August 6th. National Securities began coverage on InterDigital in a research report on Monday, July 23rd. They set a buy rating and a $103.00 target price on the stock. ValuEngine upgraded InterDigital from a hold rating to a buy rating in a research report on Thursday, July 5th. Finally, Roth Capital began coverage on InterDigital in a research report on Tuesday, June 12th. They set a buy rating and a $104.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. InterDigital has an average rating of Hold and an average target price of $94.40.

InterDigital stock opened at $79.80 on Thursday. InterDigital has a 12 month low of $69.32 and a 12 month high of $85.85. The company has a current ratio of 9.36, a quick ratio of 9.36 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.78 billion, a P/E ratio of 15.14, a PEG ratio of 3.08 and a beta of 0.98.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, August 2nd. The Wireless communications provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. InterDigital had a return on equity of 19.85% and a net margin of 27.99%. The business had revenue of $69.56 million for the quarter, compared to the consensus estimate of $64.39 million. During the same quarter in the prior year, the business earned $1.46 earnings per share. InterDigital’s revenue for the quarter was down 48.8% on a year-over-year basis. analysts predict that InterDigital will post 1.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Wednesday, October 10th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.40 annualized dividend and a dividend yield of 1.75%. InterDigital’s dividend payout ratio is currently 23.10%.

Several large investors have recently bought and sold shares of the business. Northern Trust Corp lifted its position in shares of InterDigital by 2.5% during the second quarter. Northern Trust Corp now owns 649,460 shares of the Wireless communications provider’s stock worth $52,541,000 after acquiring an additional 15,994 shares in the last quarter. Nomura Holdings Inc. lifted its position in shares of InterDigital by 6.9% during the second quarter. Nomura Holdings Inc. now owns 211,722 shares of the Wireless communications provider’s stock worth $17,128,000 after acquiring an additional 13,747 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of InterDigital by 99.1% in the second quarter. Verition Fund Management LLC now owns 9,007 shares of the Wireless communications provider’s stock worth $729,000 after purchasing an additional 4,484 shares during the period. California Public Employees Retirement System increased its holdings in shares of InterDigital by 8.8% in the second quarter. California Public Employees Retirement System now owns 114,217 shares of the Wireless communications provider’s stock worth $9,240,000 after purchasing an additional 9,246 shares during the period. Finally, Dean Capital Management bought a new position in shares of InterDigital in the second quarter worth $1,936,000. Hedge funds and other institutional investors own 74.47% of the company’s stock.

About InterDigital

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.

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