InterDigital, Inc. (NASDAQ:IDCC) is a company that designs and develops technologies to enhance wireless communications. Institutional investors and hedge funds currently own 83.97% of the company’s stock, including Advisor Group Holdings, JPMorgan Chase & Co., MetLife Investment Management LLC, Rhumbline Advisers, and Commonwealth of Pennsylvania Public School Empls Retrmt SYS. These large investors have recently increased or reduced their stakes in InterDigital. The company’s 12-month high and low are $75.74 and $40.23, respectively, with a 50-day moving average price of $69.83 and a 200-day moving average price of $55.80. Its beta is 1.21, its price-to-earnings ratio is 23.49, and its PEG ratio is 2.41. InterDigital had a net margin of 20.47% and a return on equity of 13.02% in its last quarterly earnings, which reported $1.08 earnings per share (EPS). Its quarterly revenue was up 4.7% compared to the same quarter last year, with an average rating of “Hold” and a consensus target price of $70.00 from analysts.
On Wednesday, March 15th, InterDigital, Inc. insider Eric Cohen sold 7,597 shares of the company’s stock at an average price of $72.86 per share. The company’s shares opened at $72.59 on Friday, March 17th, with a market cap of $2.15 billion.
InterDigital Stock Performance
InterDigital, Inc. (NASDAQ:IDCC) has a 12-month low of $40.23 and a 12-month high of $75.74. As of March 17th, its 50-day moving average price is $69.83, and its 200-day moving average price is $55.80. The company has a quick ratio and current ratio of 4.96, and a debt-to-equity ratio of 0.83. Its beta is 1.21, and its price-to-earnings ratio is 23.49, with a PEG ratio of 2.41.
InterDigital’s Quarterly Earnings
InterDigital released its quarterly earnings results on Wednesday, February 15th, reporting $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.16. The company’s quarterly revenue of $117.10 million also surpassed the consensus estimate of $113.93 million, with a 4.7% increase compared to the same quarter last year. Its net margin was 20.47%, and its return on equity was 13.02%. The company’s earnings per share for the current year are predicted to be 2.66.
Analyst Ratings Changes
InterDigital has been the subject of several research analyst reports. As of March 17th, one investment analyst has rated the stock as a sell, one as a hold, and two as a buy, with an average rating of “Hold” and a consensus target price of $70.00. William Blair rated the company as “outperform,” while Jefferies Financial Group assigned it a “buy” rating and a $80.00 price objective. StockNews.com gave InterDigital a “hold” rating in its report on Thursday, January 26th. TheStreet upgraded the company from a “c+” rating to a “b” rating in a research note on Monday, January 23rd.
Institutional Investors’ Activities on InterDigital Stock
Advisor Group Holdings, JPMorgan Chase & Co., MetLife Investment Management LLC, Rhumbline Advisers, and Commonwealth of Pennsylvania Public School Empls Retrmt SYS are among the institutional investors who have recently made changes to their stakes in InterDigital, Inc. (NASDAQ:IDCC) stock.
Increase and Reduction in Stakes
Advisor Group Holdings Inc. increased its holdings in InterDigital by 24.5% in the first quarter, adding 1,133 shares worth $358,000 to its existing 5,751 shares. JPMorgan Chase & Co. also raised its holdings by 44.5% in the first quarter, acquiring an additional 21,169 shares worth $4,385,000. MetLife Investment Management LLC increased its stake by 55.6% in the first quarter by adding 5,731 shares worth $1,024,000. Rhumbline Advisers purchased 2,458 more shares worth $5,862,000, boosting its holdings in InterDigital by 2.7% in the first quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased an additional 3,260 shares worth $1,687,000, boosting its holdings by 14.1% in the first quarter. Institutional investors and hedge funds now hold 83.97% of the company’s stock.
Company Profile
InterDigital, Inc. focuses on designing and developing technologies that enable and enhance wireless communications and capabilities. The company’s primary focus is on mobile technology and devices, which includes cellular wireless technology, Internet of Things, technology, video coding and transmission, sensor, and sensor fusion technology.
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