Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of InterDigital Wireless from a “hold” rating to a “strong sell” rating and set a $56.00 price objective on the stock. in a report on Tuesday, August 11th. Roth Capital reiterated a “market perform” rating and set a $104.00 price objective on shares of InterDigital Wireless in a report on Sunday, June 7th. Dougherty & Co restated a “buy” rating and issued a $87.00 price target on shares of InterDigital Wireless in a report on Sunday, June 7th. ValuEngine lowered shares of InterDigital Wireless from a “buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, Oppenheimer initiated coverage on shares of InterDigital Wireless in a report on Wednesday, July 15th. They issued an “outperform” rating and a $90.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $85.40.
InterDigital Wireless stock opened at $60.89 on Thursday. The stock has a market capitalization of $1.91 billion, a P/E ratio of 49.50, a P/E/G ratio of 3.94 and a beta of 1.12. InterDigital Wireless has a 12-month low of $31.04 and a 12-month high of $67.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.52 and a quick ratio of 4.52. The firm’s 50-day moving average is $62.02 and its two-hundred day moving average is $54.65.
InterDigital Wireless (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 6th. The Wireless communications provider reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.10. The business had revenue of $104.50 million for the quarter, compared to analyst estimates of $99.34 million. InterDigital Wireless had a net margin of 10.79% and a return on equity of 4.86%. The company’s revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. As a group, analysts forecast that InterDigital Wireless will post 1.05 EPS for the current year.
In other news, Director John A. Kritzmacher sold 969 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $56.22, for a total value of $54,477.18. Following the completion of the sale, the director now owns 17,178 shares of the company’s stock, valued at approximately $965,747.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John D. Jr. Markley sold 700 shares of the company’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $57.97, for a total transaction of $40,579.00. Following the completion of the sale, the director now owns 10,498 shares in the company, valued at approximately $608,569.06. The disclosure for this sale can be found here. Insiders sold 6,633 shares of company stock worth $374,281 in the last 90 days. 1.70% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its position in shares of InterDigital Wireless by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 7,700 shares of the Wireless communications provider’s stock worth $436,000 after purchasing an additional 200 shares during the last quarter. Sigma Planning Corp lifted its position in shares of InterDigital Wireless by 2.9% during the second quarter. Sigma Planning Corp now owns 7,306 shares of the Wireless communications provider’s stock worth $414,000 after purchasing an additional 203 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in shares of InterDigital Wireless by 95.5% during the second quarter. Point72 Hong Kong Ltd now owns 438 shares of the Wireless communications provider’s stock worth $25,000 after purchasing an additional 214 shares during the last quarter. Heartland Advisors Inc. lifted its position in shares of InterDigital Wireless by 0.4% during the second quarter. Heartland Advisors Inc. now owns 149,564 shares of the Wireless communications provider’s stock worth $8,470,000 after purchasing an additional 528 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of InterDigital Wireless during the second quarter worth about $35,000. 78.21% of the stock is currently owned by institutional investors and hedge funds.
InterDigital Wireless Company Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks.
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