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

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

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

InterDigital Stock Up 2.0 %

NASDAQ IDCC opened at $156.82 on Tuesday. InterDigital has a twelve month low of $74.65 and a twelve month high of $157.15. The stock has a market cap of $3.96 billion, a PE ratio of 23.06, a PEG ratio of 0.94 and a beta of 1.39. The firm has a 50-day simple moving average of $139.20 and a 200 day simple moving average of $121.63. 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 (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $3.77. The firm had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. On average, research analysts forecast that InterDigital will post 9.04 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On InterDigital

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Simplicity Wealth LLC lifted its stake in shares of InterDigital by 1.5% in the 3rd quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock valued at $665,000 after purchasing an additional 69 shares during the period. Miller Howard Investments Inc. NY lifted its stake in InterDigital by 2.0% in the second quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock valued at $536,000 after buying an additional 90 shares during the period. Nisa Investment Advisors LLC lifted its stake in InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 109 shares during the period. GAMMA Investing LLC boosted its holdings in InterDigital by 50.8% during the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after buying an additional 124 shares during the last quarter. Finally, Juncture Wealth Strategies LLC grew its position in shares of InterDigital by 1.4% during the 2nd quarter. Juncture Wealth Strategies LLC now owns 9,943 shares of the Wireless communications provider’s stock worth $1,159,000 after buying an additional 134 shares during the period. 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.