InterDigital (NASDAQ:IDCC) PT Raised to $160.00

InterDigital (NASDAQ:IDCC) had its price target raised by investment analysts at Roth Mkm from $146.00 to $160.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the Wireless communications provider’s stock. Roth Mkm’s price objective would suggest a potential upside of 20.80% from the stock’s previous close.

Separately, StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd.

InterDigital Stock Performance

NASDAQ IDCC opened at $132.45 on Wednesday. The company has a market cap of $3.34 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 0.84 and a beta of 1.39. The stock’s 50 day simple moving average is $130.40 and its 200-day simple moving average is $115.23. InterDigital has a 1-year low of $74.65 and a 1-year high of $140.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $0.43 by $3.77. The business had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. As a group, equities research analysts anticipate that InterDigital will post 9.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On InterDigital

Institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in InterDigital by 51,337.0% in the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock valued at $86,635,000 after purchasing an additional 741,820 shares during the period. Norges Bank purchased a new position in InterDigital in the fourth quarter valued at $18,987,000. Crossmark Global Holdings Inc. purchased a new position in InterDigital in the fourth quarter valued at $13,309,000. Emerald Advisers LLC boosted its holdings in InterDigital by 127,997.9% in the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock valued at $14,035,000 after purchasing an additional 120,318 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in InterDigital by 473.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock valued at $11,244,000 after purchasing an additional 79,648 shares during the period. 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.