BidaskClub Upgrades InterDigital (IDCC) to “Sell”

BidaskClub upgraded shares of InterDigital (NASDAQ:IDCC) from a strong sell rating to a sell rating in a research report report published on Monday.

A number of other equities research analysts also recently weighed in on IDCC. Zacks Investment Research downgraded InterDigital from a strong-buy rating to a hold rating in a research report on Tuesday, October 24th. B. Riley reissued a buy rating and set a $100.00 target price on shares of InterDigital in a research report on Friday, October 27th. Finally, ValuEngine raised InterDigital from a hold rating to a buy rating in a research report on Thursday, November 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $93.67.

Shares of InterDigital (IDCC) opened at $76.55 on Monday. InterDigital has a 1 year low of $67.55 and a 1 year high of $102.30. The firm has a market capitalization of $2,697.08, a PE ratio of 10.73 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.22 and a current ratio of 3.22.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Tuesday, January 9th. InterDigital’s dividend payout ratio (DPR) is presently 19.34%.

In other InterDigital news, EVP James J. Nolan sold 5,020 shares of InterDigital stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $75.00, for a total transaction of $376,500.00. Following the sale, the executive vice president now directly owns 49,063 shares of the company’s stock, valued at $3,679,725. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott A. Mcquilkin sold 500 shares of InterDigital stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $76.50, for a total value of $38,250.00. Following the sale, the executive vice president now directly owns 78,881 shares in the company, valued at $6,034,396.50. The disclosure for this sale can be found here. Insiders have sold 6,020 shares of company stock worth $453,000 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mountain Capital Investment Advisors Inc acquired a new stake in InterDigital during the second quarter valued at approximately $118,000. Cerebellum GP LLC acquired a new stake in InterDigital during the fourth quarter valued at approximately $127,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in InterDigital by 57.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,815 shares of the Wireless communications provider’s stock valued at $138,000 after purchasing an additional 664 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in InterDigital by 107.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,182 shares of the Wireless communications provider’s stock valued at $160,000 after purchasing an additional 1,129 shares in the last quarter. Finally, Advisor Group Inc. boosted its holdings in InterDigital by 29.5% during the second quarter. Advisor Group Inc. now owns 2,342 shares of the Wireless communications provider’s stock valued at $181,000 after purchasing an additional 534 shares in the last quarter. 68.91% of the stock is currently owned by institutional investors.

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About InterDigital

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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