InterDigital (NASDAQ:IDCC) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of InterDigital (NASDAQ:IDCC) from a buy rating to a hold rating in a research report released on Tuesday.

Separately, Bank of America reissued an underperform rating and set a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

InterDigital Price Performance

InterDigital stock opened at $105.43 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50 day simple moving average of $101.64 and a 200-day simple moving average of $101.28. InterDigital has a 12 month low of $74.65 and a 12 month high of $119.86. The stock has a market capitalization of $2.66 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. The company had revenue of $105.52 million for the quarter, compared to analyst estimates of $104.31 million. Equities analysts predict that InterDigital will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.60 annualized dividend and a dividend yield of 1.52%. InterDigital’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling

In other news, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the sale, the insider now owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction of $66,943.23. Following the transaction, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the sale, the chief technology officer now owns 64,517 shares of the company’s stock, valued at $6,701,380.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,999 shares of company stock worth $196,423. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of InterDigital

Several large investors have recently bought and sold shares of the company. Headlands Technologies LLC lifted its position in shares of InterDigital by 108,450.0% during the first quarter. Headlands Technologies LLC now owns 2,171 shares of the Wireless communications provider’s stock worth $231,000 after purchasing an additional 2,169 shares in the last quarter. Inspire Investing LLC boosted its position in InterDigital by 10.9% in the 1st quarter. Inspire Investing LLC now owns 11,660 shares of the Wireless communications provider’s stock valued at $1,241,000 after buying an additional 1,148 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in InterDigital in the 1st quarter valued at about $341,000. Duality Advisers LP grew its stake in shares of InterDigital by 1,380.5% during the first quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock valued at $3,441,000 after acquiring an additional 30,137 shares in the last quarter. Finally, Gallacher Capital Management LLC purchased a new stake in shares of InterDigital during the first quarter worth about $303,000. Institutional investors and hedge funds 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.