Roth Mkm Boosts InterDigital (NASDAQ:IDCC) Price Target to $160.00

InterDigital (NASDAQ:IDCC) had its price target increased by Roth Mkm from $146.00 to $160.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the Wireless communications provider’s stock.

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

InterDigital Stock Performance

Shares of IDCC stock opened at $135.99 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $130.71 and a two-hundred day moving average of $115.42. InterDigital has a 52 week low of $74.65 and a 52 week high of $140.60. The company has a market cap of $3.42 billion, a P/E ratio of 20.00, a PEG ratio of 0.84 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $3.77. The business had revenue of $223.49 million during 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, analysts anticipate that InterDigital will post 9.05 EPS for the current year.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be issued a dividend of $0.45 per share. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 1.32%. InterDigital’s payout ratio is presently 23.53%.

Insider Buying and Selling

In related news, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On InterDigital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in InterDigital by 16.1% during the fourth quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after purchasing an additional 10,926 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of InterDigital in the fourth quarter valued at $13,309,000. Trexquant Investment LP bought a new position in shares of InterDigital in the fourth quarter valued at $1,779,000. Norges Bank bought a new position in shares of InterDigital in the fourth quarter valued at $18,987,000. Finally, Duality Advisers LP increased its holdings in shares of InterDigital by 1,380.5% in the first quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock valued at $3,441,000 after buying an additional 30,137 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

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.