Shares of InterDigital, Inc. (NASDAQ:IDCC) have received a consensus rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $90.00.

IDCC has been the subject of several research analyst reports. B. Riley reaffirmed a “buy” rating and issued a $100.00 price objective on shares of InterDigital in a report on Friday, October 27th. Zacks Investment Research downgraded shares of InterDigital from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 24th. ValuEngine raised shares of InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. Finally, Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th.

In other InterDigital news, EVP Jannie K. Lau sold 2,561 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $72.31, for a total value of $185,185.91. Following the completion of the sale, the executive vice president now directly owns 19,496 shares of the company’s stock, valued at approximately $1,409,755.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the sale, the executive vice president now directly owns 79,319 shares of the company’s stock, valued at $5,948,925. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in InterDigital by 0.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,796 shares of the Wireless communications provider’s stock valued at $216,000 after acquiring an additional 15 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in InterDigital by 0.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,760 shares of the Wireless communications provider’s stock valued at $461,000 after acquiring an additional 50 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in InterDigital by 1.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,062 shares of the Wireless communications provider’s stock valued at $391,000 after acquiring an additional 51 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in InterDigital by 1.0% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 5,969 shares of the Wireless communications provider’s stock valued at $332,000 after acquiring an additional 57 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in InterDigital by 0.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 13,113 shares of the Wireless communications provider’s stock valued at $1,014,000 after acquiring an additional 122 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

InterDigital (NASDAQ:IDCC) traded up $0.15 during mid-day trading on Thursday, reaching $74.40. 61,629 shares of the company traded hands, compared to its average volume of 294,740. The firm has a market capitalization of $2,580.00, a P/E ratio of 10.28 and a beta of 0.95. InterDigital has a 1-year low of $67.55 and a 1-year high of $102.30. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.34.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.34. The business had revenue of $97.30 million during the quarter, compared to the consensus estimate of $94.13 million. InterDigital had a net margin of 42.94% and a return on equity of 32.77%. The company’s quarterly revenue was down 53.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.99 earnings per share. sell-side analysts expect that InterDigital will post 4.04 EPS for the current fiscal year.

InterDigital announced that its board has authorized a stock repurchase program on Thursday, September 14th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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About InterDigital

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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