InterDigital, Inc. (NASDAQ:IDCC) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $90.00.

IDCC has been the topic of several research reports. B. Riley restated a “buy” rating and set a $100.00 price target on shares of InterDigital in a research report on Monday, August 28th. Zacks Investment Research lowered InterDigital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, ValuEngine upgraded InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th.

In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of InterDigital stock in a transaction on Friday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the transaction, the executive vice president now owns 79,319 shares in the company, valued at $5,948,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jannie K. Lau sold 2,561 shares of InterDigital stock in a transaction on Monday, October 30th. The shares were sold at an average price of $72.31, for a total value of $185,185.91. Following the transaction, the executive vice president now owns 19,496 shares of the company’s stock, valued at approximately $1,409,755.76. The disclosure for this sale can be found here. Insiders have sold 8,081 shares of company stock worth $599,186 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Seizert Capital Partners LLC raised its stake in InterDigital by 22.8% during the second quarter. Seizert Capital Partners LLC now owns 47,916 shares of the Wireless communications provider’s stock valued at $3,704,000 after buying an additional 8,890 shares during the last quarter. Arizona State Retirement System raised its stake in shares of InterDigital by 2.1% in the second quarter. Arizona State Retirement System now owns 14,600 shares of the Wireless communications provider’s stock worth $1,129,000 after purchasing an additional 300 shares during the last quarter. Strid Group LLC purchased a new position in shares of InterDigital in the second quarter worth $4,514,000. Cubist Systematic Strategies LLC raised its stake in shares of InterDigital by 116.3% in the second quarter. Cubist Systematic Strategies LLC now owns 23,618 shares of the Wireless communications provider’s stock worth $1,826,000 after purchasing an additional 12,697 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of InterDigital by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,865,421 shares of the Wireless communications provider’s stock worth $221,497,000 after purchasing an additional 40,030 shares during the last quarter. Institutional investors and hedge funds own 72.91% of the company’s stock.

Shares of InterDigital (IDCC) opened at $74.95 on Monday. The firm has a market capitalization of $2,601.59, a P/E ratio of 10.35 and a beta of 0.97. InterDigital has a 1 year low of $67.55 and a 1 year high of $102.30. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.22 and a quick ratio of 3.22.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.34. The firm had revenue of $97.30 million for the quarter, compared to analyst estimates of $94.13 million. InterDigital had a return on equity of 32.77% and a net margin of 42.94%. The business’s quarterly revenue was down 53.3% compared to the same quarter last year. During the same period last year, the company earned $2.99 EPS. equities research analysts anticipate that InterDigital will post 4.04 earnings per share for the current year.

InterDigital announced that its board has authorized a stock buyback plan on Thursday, September 14th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the Wireless communications provider to purchase up to 4.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.40 annualized dividend and a dividend yield of 1.87%. InterDigital’s dividend payout ratio is presently 19.34%.

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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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