InterDigital, Inc. (NASDAQ:IDCC) EVP Scott A. Mcquilkin sold 500 shares of the business’s stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $76.50, for a total transaction of $38,250.00. Following the transaction, the executive vice president now owns 78,881 shares in the company, valued at approximately $6,034,396.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
InterDigital, Inc. (NASDAQ:IDCC) traded up $0.70 during midday trading on Friday, reaching $79.50. 11,381 shares of the company were exchanged, compared to its average volume of 360,267. The company has a market capitalization of $2,764.76, a PE ratio of 10.98 and a beta of 0.97. InterDigital, Inc. has a twelve month low of $67.55 and a twelve month high of $102.30. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.22 and a current ratio of 3.22.
InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.34. The business had revenue of $97.30 million for the quarter, compared to analysts’ expectations of $94.13 million. InterDigital had a net margin of 42.94% and a return on equity of 32.77%. The firm’s revenue for the quarter was down 53.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.99 earnings per share. equities analysts predict that InterDigital, Inc. will post 4.04 EPS for the current year.
InterDigital announced that its Board of Directors has authorized a stock buyback program on Thursday, September 14th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the Wireless communications provider to purchase up to 4.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its stake in InterDigital by 374.9% during the third quarter. Public Employees Retirement System of Ohio now owns 8,624 shares of the Wireless communications provider’s stock worth $636,000 after buying an additional 6,808 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of InterDigital by 81.4% during the third quarter. Janney Montgomery Scott LLC now owns 9,399 shares of the Wireless communications provider’s stock worth $693,000 after purchasing an additional 4,217 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of InterDigital by 3.4% during the third quarter. Cubist Systematic Strategies LLC now owns 24,420 shares of the Wireless communications provider’s stock worth $1,801,000 after purchasing an additional 802 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in shares of InterDigital during the third quarter worth approximately $2,934,000. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in shares of InterDigital by 169.5% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 30,300 shares of the Wireless communications provider’s stock worth $2,234,000 after purchasing an additional 19,059 shares in the last quarter. 72.88% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of InterDigital from a “strong sell” rating to a “sell” rating in a report on Thursday. B. Riley reissued a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research note on Wednesday. Zacks Investment Research cut shares of InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, ValuEngine raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $90.00.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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