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

InterDigital (NASDAQ:IDCC - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Separately, Roth Mkm lifted their price objective on InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th.

InterDigital Trading Up 0.1 %

Shares of InterDigital stock traded up $0.23 during midday trading on Monday, reaching $165.93. The company had a trading volume of 555,676 shares, compared to its average volume of 461,106. The stock has a fifty day moving average price of $142.84 and a 200 day moving average price of $126.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 1.51. The firm has a market cap of $4.17 billion, a PE ratio of 17.73, a P/E/G ratio of 0.95 and a beta of 1.38. InterDigital has a fifty-two week low of $84.41 and a fifty-two week high of $169.46.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $3.77. The company had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. InterDigital had a return on equity of 40.49% and a net margin of 36.69%. On average, equities analysts anticipate that InterDigital will post 9.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Derek K. Aberle sold 2,005 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares in the company, valued at $1,026,681.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Derek K. Aberle sold 2,005 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares in the company, valued at $1,026,681.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now owns 20,279 shares of the company's stock, valued at approximately $2,813,102.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On InterDigital

Several institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in InterDigital by 13.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,464 shares of the Wireless communications provider's stock worth $7,821,000 after purchasing an additional 8,533 shares during the last quarter. GSA Capital Partners LLP boosted its position in InterDigital by 25.0% in the first quarter. GSA Capital Partners LLP now owns 12,109 shares of the Wireless communications provider's stock worth $1,289,000 after purchasing an additional 2,420 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in InterDigital by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 22,495 shares of the Wireless communications provider's stock worth $2,395,000 after purchasing an additional 291 shares during the last quarter. Gallacher Capital Management LLC purchased a new position in InterDigital in the first quarter worth $303,000. Finally, Duality Advisers LP lifted its position in shares of InterDigital by 1,380.5% during the 1st quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider's stock valued at $3,441,000 after buying an additional 30,137 shares during the last quarter. Institutional investors own 99.83% of the company's stock.

About InterDigital

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.

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