StockNews.com Lowers InterDigital (NASDAQ:IDCC) to Hold

InterDigital (NASDAQ:IDCC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

InterDigital Stock Down 0.4 %

Shares of InterDigital stock traded down $0.39 on Tuesday, hitting $103.44. 460,683 shares of the company traded hands, compared to its average volume of 484,009. The company has a 50-day moving average price of $106.05 and a 200 day moving average price of $96.43. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. InterDigital has a 12-month low of $66.82 and a 12-month high of $119.86. The company has a market cap of $2.64 billion, a PE ratio of 13.79, a PEG ratio of 1.08 and a beta of 1.34.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The firm had revenue of $105.52 million for the quarter, compared to the consensus estimate of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. Sell-side analysts predict that InterDigital will post 5.44 earnings per share for the current year.

Insider Buying and Selling at InterDigital

In related news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $103.91, for a total value of $67,541.50. Following the completion of the sale, the chief technology officer now owns 56,487 shares in the company, valued at $5,869,564.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Joshua D. Schmidt sold 336 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $107.74, for a total transaction of $36,200.64. Following the completion of the sale, the insider now owns 18,267 shares of the company’s stock, valued at $1,968,086.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $103.91, for a total transaction of $67,541.50. Following the sale, the chief technology officer now directly owns 56,487 shares of the company’s stock, valued at approximately $5,869,564.17. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of InterDigital

A number of hedge funds and other institutional investors have recently modified their holdings of IDCC. Pacer Advisors Inc. increased its holdings in shares of InterDigital by 220.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock valued at $125,014,000 after purchasing an additional 792,868 shares in the last quarter. Norges Bank bought a new position in shares of InterDigital during the fourth quarter worth $14,439,000. Marshall Wace LLP bought a new position in shares of InterDigital during the second quarter worth $16,076,000. Crossmark Global Holdings Inc. bought a new stake in InterDigital in the 4th quarter valued at $13,309,000. Finally, Two Sigma Investments LP bought a new stake in InterDigital in the 1st quarter valued at $6,199,000. Institutional investors and hedge funds own 94.98% of the company’s stock.

InterDigital Company Profile

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.