InterDigital (NASDAQ:IDCC) Lowered to “Buy” at StockNews.com

StockNews.com downgraded shares of InterDigital (NASDAQ:IDCCGet Rating) from a strong-buy rating to a buy rating in a report released on Thursday morning.

Separately, TheStreet upgraded shares of InterDigital from a c+ rating to a b rating in a report on Friday, February 18th.

Shares of NASDAQ IDCC opened at $60.15 on Thursday. The stock has a market capitalization of $1.86 billion, a P/E ratio of 27.85, a P/E/G ratio of 1.31 and a beta of 1.04. The company has a 50-day moving average price of $61.06 and a 200-day moving average price of $65.10. InterDigital has a 1 year low of $56.13 and a 1 year high of $79.05. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.24 and a quick ratio of 3.24.

InterDigital (NASDAQ:IDCCGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The Wireless communications provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.21. The firm had revenue of $101.32 million during the quarter, compared to analysts’ expectations of $97.85 million. InterDigital had a net margin of 15.24% and a return on equity of 10.55%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. As a group, equities research analysts anticipate that InterDigital will post 3.28 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 13th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, July 12th. InterDigital’s dividend payout ratio (DPR) is presently 64.82%.

In related news, Director Jean F. Rankin sold 814 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $66.83, for a total transaction of $54,399.62. Following the transaction, the director now directly owns 28,441 shares in the company, valued at $1,900,712.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC purchased a new position in InterDigital during the fourth quarter worth about $27,000. Evolution Advisers Inc. bought a new stake in InterDigital in the fourth quarter worth about $28,000. Cornerstone Advisory LLC bought a new stake in InterDigital in the fourth quarter worth about $29,000. Confluence Wealth Services Inc. bought a new stake in InterDigital in the fourth quarter worth about $43,000. Finally, Larson Financial Group LLC bought a new stake in InterDigital in the fourth quarter worth about $90,000. Institutional investors and hedge funds own 82.04% of the company’s stock.

About InterDigital (Get Rating)

InterDigital, Inc, together with its subsidiaries, designs and develops technologies that enable and enhance wireless communications in the United States, China, South Korea, Japan, Taiwan, and Europe. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.

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