InterDigital (IDCC) Getting Very Positive Media Coverage, Report Finds
Media headlines about InterDigital (NASDAQ:IDCC) have been trending very positive recently, AlphaOne Sentiment Analysis reports. AlphaOne, a service of Accern, identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. AlphaOne ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. InterDigital earned a media sentiment score of 0.56 on AlphaOne’s scale. AlphaOne also gave media coverage about the Wireless communications provider an impact score of 0 out of 100, meaning that recent press coverage is extremely unlikely to have an impact on the stock’s share price in the near term.
Here are some of the news headlines that may have impacted AlphaOne Sentiment’s analysis:
- Comparing CalAmp Corp. (CAMP) & InterDigital (IDCC) (americanbankingnews.com)
- What Next for InterDigital, Inc. (IDCC) After Forming Wedge Down? – WeeklyHub (weeklyhub.com)
- Does InterDigital, Inc. (IDCC) Have Any Gas After Forming This Wedge Down Chart Pattern? – KL Daily (kldaily.com)
- The Elkfork Partners LLC Increases Stake in InterDigital, Inc. (IDCC) – Newburgh Gazette (newburghgazette.com)
- InterDigital, Inc. (IDCC) Declares Quarterly Dividend of $0.30 (americanbankingnews.com)
IDCC has been the subject of several recent analyst reports. Zacks Investment Research cut shares of InterDigital from a “hold” rating to a “strong sell” rating in a report on Friday, March 10th. ValuEngine upgraded shares of InterDigital from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 25th. B. Riley upgraded shares of InterDigital from a “neutral” rating to a “buy” rating and increased their price objective for the company from $86.00 to $100.00 in a report on Monday, April 24th. Benchmark Co. initiated coverage on shares of InterDigital in a report on Tuesday, April 25th. They issued a “hold” rating for the company. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $88.00 price objective (down from $94.00) on shares of InterDigital in a report on Friday, February 24th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. InterDigital has a consensus rating of “Buy” and a consensus target price of $92.50.
Shares of InterDigital (IDCC) traded down 0.50% during mid-day trading on Friday, reaching $79.65. 738,939 shares of the company were exchanged. The firm has a 50-day moving average price of $83.47 and a 200 day moving average price of $87.24. The stock has a market capitalization of $2.76 billion, a P/E ratio of 8.96 and a beta of 1.09. InterDigital has a 12 month low of $51.97 and a 12 month high of $102.30.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, April 27th. The Wireless communications provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.22. The firm had revenue of $94.53 million during the quarter, compared to analysts’ expectations of $92.90 million. InterDigital had a net margin of 48.22% and a return on equity of 43.97%. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share. Equities research analysts anticipate that InterDigital will post $3.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, July 10th. InterDigital’s dividend payout ratio is currently 13.47%.
In related news, CFO Richard Brezski sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $84.93, for a total transaction of $849,300.00. Following the completion of the transaction, the chief financial officer now owns 27,681 shares in the company, valued at $2,350,947.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey K. Belk sold 800 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $84.39, for a total transaction of $67,512.00. Following the transaction, the director now owns 17,801 shares of the company’s stock, valued at approximately $1,502,226.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,896 shares of company stock valued at $2,537,170. Corporate insiders own 1.50% of the company’s stock.
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InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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