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

InterDigital (NASDAQ:IDCC) was downgraded by research analysts 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 boosted their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $168.84 on Monday. InterDigital has a fifty-two week low of $84.41 and a fifty-two week high of $169.85. The company has a market cap of $4.24 billion, a PE ratio of 18.04, a P/E/G ratio of 1.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62. The business has a 50-day simple moving average of $143.47 and a two-hundred day simple moving average of $126.98.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of the company’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 value of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the transaction, the director now owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction dated 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 sale, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,205 shares of company stock worth $716,218 over the last three months. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IDCC. Versor Investments LP acquired a new stake in shares of InterDigital during the 3rd quarter worth approximately $1,091,000. Transcendent Capital Group LLC acquired a new stake in InterDigital during the third quarter valued at $25,000. Covestor Ltd increased its holdings in InterDigital by 701.7% in the third quarter. Covestor Ltd now owns 922 shares of the Wireless communications provider’s stock valued at $131,000 after buying an additional 807 shares in the last quarter. Assetmark Inc. increased its holdings in InterDigital by 5.9% in the third quarter. Assetmark Inc. now owns 18,977 shares of the Wireless communications provider’s stock valued at $2,688,000 after buying an additional 1,060 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of InterDigital in the third quarter worth about $1,007,000. 99.83% of the stock is owned by institutional investors and hedge funds.

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.