Barclays PLC restated their equal weight rating on shares of InterDigital Inc. (NASDAQ:IDCC) in a report issued on Friday. Barclays PLC currently has a $80.00 price objective on the stock, up from their prior price objective of $75.00.
IDCC has been the subject of several other reports. TheStreet raised shares of InterDigital from a hold rating to a buy rating in a report on Wednesday, August 3rd. Zacks Investment Research downgraded shares of InterDigital from a hold rating to a sell rating in a report on Thursday, June 30th. Finally, B. Riley reaffirmed a buy rating and issued a $73.00 price objective (up from $69.00) on shares of InterDigital in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $75.00.
InterDigital (NASDAQ:IDCC) opened at 78.81 on Friday. InterDigital has a 52-week low of $41.01 and a 52-week high of $79.80. The stock has a 50 day moving average price of $72.35 and a 200 day moving average price of $60.65. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 22.29 and a beta of 1.11.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.83. The company earned $75.90 million during the quarter, compared to the consensus estimate of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. InterDigital’s revenue for the quarter was down 36.0% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. Analysts anticipate that InterDigital will post $4.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.52%. This is an increase from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, October 7th. InterDigital’s dividend payout ratio (DPR) is presently 22.66%.
A number of hedge funds and other institutional investors have recently made changes to their positions in IDCC. Victory Capital Management Inc. increased its position in shares of InterDigital by 77.1% in the second quarter. Victory Capital Management Inc. now owns 1,801 shares of the company’s stock valued at $100,000 after buying an additional 784 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in InterDigital by 8.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,038 shares of the company’s stock valued at $113,000 after buying an additional 164 shares during the period. LS Investment Advisors LLC boosted its stake in InterDigital by 73.8% in the second quarter. LS Investment Advisors LLC now owns 2,084 shares of the company’s stock valued at $116,000 after buying an additional 885 shares during the period. Smith Asset Management Group LP boosted its stake in InterDigital by 8,400.0% in the second quarter. Smith Asset Management Group LP now owns 2,125 shares of the company’s stock valued at $118,000 after buying an additional 2,100 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in InterDigital by 9.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,163 shares of the company’s stock valued at $120,000 after buying an additional 188 shares during the period. 69.14% of the stock is owned by hedge funds and other institutional investors.
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
Receive News & Ratings for InterDigital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.