InterDigital (NASDAQ:IDCC) Upgraded by StockNews.com to “Buy”

InterDigital (NASDAQ:IDCC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Separately, Bank of America reiterated an “underperform” rating and set a $100.00 price objective (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st.

InterDigital Stock Performance

Shares of IDCC stock opened at $98.73 on Monday. InterDigital has a 12 month low of $66.82 and a 12 month high of $119.86. The stock has a market cap of $2.50 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average price is $102.42 and its 200-day moving average price is $100.29.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $105.52 million during the quarter, compared to analyst estimates of $104.31 million. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. On average, equities analysts expect that InterDigital will post 7.02 EPS for the current fiscal year.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the sale, the chief technology officer now owns 64,939 shares in the company, valued at approximately $6,190,634.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the transaction, the insider now owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the transaction, the chief technology officer now directly owns 64,939 shares in the company, valued at approximately $6,190,634.87. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On InterDigital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in shares of InterDigital during the fourth quarter worth about $9,012,000. Qube Research & Technologies Ltd lifted its stake in shares of InterDigital by 125.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 58,915 shares of the Wireless communications provider’s stock valued at $4,727,000 after purchasing an additional 32,750 shares during the last quarter. Pacer Advisors Inc. lifted its stake in InterDigital by 220.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after acquiring an additional 792,868 shares in the last quarter. Hussman Strategic Advisors Inc. raised its position in InterDigital by 69.4% in the 3rd quarter. Hussman Strategic Advisors Inc. now owns 26,250 shares of the Wireless communications provider’s stock valued at $2,106,000 after purchasing an additional 10,750 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of InterDigital by 1,119.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,121 shares of the Wireless communications provider’s stock valued at $226,000 after acquiring an additional 1,947 shares during the last quarter. Hedge funds and other institutional investors own 99.83% 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.