InterDigital Wireless Inc (NASDAQ:IDCC) Given Consensus Recommendation of “Hold” by Brokerages

InterDigital Wireless Inc (NASDAQ:IDCC) has been assigned an average recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $80.00.

IDCC has been the subject of a number of recent analyst reports. Zacks Investment Research cut InterDigital Wireless from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. BidaskClub cut InterDigital Wireless from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 15th. Finally, B. Riley reissued a “buy” rating and issued a $80.00 price objective (down previously from $90.00) on shares of InterDigital Wireless in a research report on Friday, August 2nd.

In other news, insider William J. Merritt sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $65.02, for a total value of $975,300.00. Following the completion of the sale, the insider now owns 176,065 shares of the company’s stock, valued at approximately $11,447,746.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jean F. Rankin sold 680 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $64.84, for a total value of $44,091.20. Following the completion of the sale, the director now directly owns 20,918 shares of the company’s stock, valued at approximately $1,356,323.12. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc lifted its position in InterDigital Wireless by 5.7% during the 4th quarter. Legal & General Group Plc now owns 35,515 shares of the Wireless communications provider’s stock worth $2,360,000 after acquiring an additional 1,925 shares during the period. Sigma Planning Corp lifted its position in InterDigital Wireless by 4.5% during the 1st quarter. Sigma Planning Corp now owns 11,730 shares of the Wireless communications provider’s stock worth $774,000 after acquiring an additional 507 shares during the period. Norges Bank acquired a new stake in InterDigital Wireless during the 4th quarter worth about $42,421,000. Regal Investment Advisors LLC lifted its position in InterDigital Wireless by 2.5% during the 1st quarter. Regal Investment Advisors LLC now owns 26,306 shares of the Wireless communications provider’s stock worth $1,736,000 after acquiring an additional 633 shares during the period. Finally, Bank of America Corp DE lifted its position in InterDigital Wireless by 43.5% during the 4th quarter. Bank of America Corp DE now owns 124,976 shares of the Wireless communications provider’s stock worth $8,302,000 after acquiring an additional 37,913 shares during the period. 74.70% of the stock is owned by institutional investors.

Shares of NASDAQ:IDCC traded down $0.81 on Friday, reaching $47.82. The company had a trading volume of 263,449 shares, compared to its average volume of 349,806. InterDigital Wireless has a 52-week low of $48.59 and a 52-week high of $83.65. The business has a 50 day moving average of $62.16. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 12.87 and a beta of 0.98. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.43.

InterDigital Wireless (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.12. The firm had revenue of $75.61 million during the quarter, compared to analysts’ expectations of $75.50 million. InterDigital Wireless had a return on equity of 3.15% and a net margin of 9.56%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. As a group, equities analysts expect that InterDigital Wireless will post 0.31 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were given a $0.35 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.93%. InterDigital Wireless’s payout ratio is 77.35%.

About InterDigital Wireless

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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