InterDigital (NASDAQ:IDCC) Stock Rating Lowered by StockNews.com

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

Separately, Roth Mkm lifted their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

InterDigital Stock Up 2.0 %

Shares of IDCC opened at $146.10 on Monday. The company’s 50-day simple moving average is $136.88 and its 200-day simple moving average is $119.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. InterDigital has a 1 year low of $74.65 and a 1 year high of $146.91. The stock has a market capitalization of $3.69 billion, a PE ratio of 21.49, a P/E/G ratio of 0.88 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The company had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. Analysts forecast that InterDigital will post 9.05 earnings per share for the current fiscal year.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the completion of the transaction, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,205 shares of company stock valued at $716,218. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IDCC. CWM LLC lifted its position in InterDigital by 34.0% in the third quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock valued at $121,000 after acquiring an additional 216 shares during the last quarter. GAMMA Investing LLC increased its position in shares of InterDigital by 81.3% during the third quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock worth $94,000 after purchasing an additional 299 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of InterDigital by 29.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,030 shares of the Wireless communications provider’s stock valued at $996,000 after purchasing an additional 1,600 shares during the last quarter. Capital CS Group LLC acquired a new stake in shares of InterDigital in the 3rd quarter valued at about $502,000. Finally, SG Americas Securities LLC acquired a new stake in shares of InterDigital in the 3rd quarter valued at about $417,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

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.