A number of other equities analysts have also commented on the stock. B. Riley reiterated a “buy” rating and set a $80.00 price target (down previously from $90.00) on shares of InterDigital Wireless in a report on Friday, August 2nd. BidaskClub upgraded shares of InterDigital Wireless from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. InterDigital Wireless has an average rating of “Buy” and a consensus target price of $80.00.
Shares of NASDAQ:IDCC traded up $3.99 during mid-day trading on Tuesday, reaching $57.10. 606,905 shares of the company’s stock were exchanged, compared to its average volume of 348,256. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 13.61 and a beta of 1.05. The business’s fifty day moving average price is $52.57 and its 200-day moving average price is $60.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.87 and a current ratio of 3.87. InterDigital Wireless has a twelve month low of $47.02 and a twelve month high of $77.88.
InterDigital Wireless (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. The company had revenue of $75.61 million for the quarter, compared to analyst estimates of $75.50 million. InterDigital Wireless had a net margin of 9.56% and a return on equity of 3.15%. InterDigital Wireless’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. Analysts predict that InterDigital Wireless will post 0.31 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Empirical Finance LLC raised its stake in InterDigital Wireless by 0.9% during the second quarter. Empirical Finance LLC now owns 32,220 shares of the Wireless communications provider’s stock worth $2,075,000 after buying an additional 280 shares during the last quarter. Invesco Ltd. raised its stake in InterDigital Wireless by 566.2% during the second quarter. Invesco Ltd. now owns 530,450 shares of the Wireless communications provider’s stock worth $34,161,000 after buying an additional 450,831 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in InterDigital Wireless during the second quarter worth $3,677,000. Nomura Holdings Inc. raised its stake in InterDigital Wireless by 4.8% during the second quarter. Nomura Holdings Inc. now owns 249,810 shares of the Wireless communications provider’s stock worth $16,032,000 after buying an additional 11,480 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake in InterDigital Wireless by 36.2% during the second quarter. Alps Advisors Inc. now owns 10,786 shares of the Wireless communications provider’s stock worth $695,000 after buying an additional 2,868 shares during the last quarter. 73.12% of the stock is owned by institutional investors and hedge funds.
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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