InterDigital Wireless Inc (NASDAQ:IDCC) has earned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $96.50.
A number of research firms recently issued reports on IDCC. Zacks Investment Research cut Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. BidaskClub cut Xilinx from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th.
NASDAQ IDCC traded down $0.66 during trading hours on Tuesday, reaching $64.99. 150,452 shares of the company’s stock were exchanged, compared to its average volume of 358,483. The business’s 50-day moving average price is $64.96. InterDigital Wireless has a one year low of $62.34 and a one year high of $84.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.06 billion, a P/E ratio of 35.91, a price-to-earnings-growth ratio of 7.10 and a beta of 1.00.
InterDigital Wireless (NASDAQ:IDCC) last posted its earnings results on Thursday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). InterDigital Wireless had a return on equity of 3.27% and a net margin of 10.79%. The business had revenue of $68.63 million for the quarter, compared to the consensus estimate of $70.19 million. During the same period in the previous year, the company posted $1.29 earnings per share. InterDigital Wireless’s revenue for the quarter was down 21.5% compared to the same quarter last year. Analysts predict that InterDigital Wireless will post 0.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.15%. InterDigital Wireless’s payout ratio is 77.35%.
In other InterDigital Wireless news, insider William J. Merritt sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $65.02, for a total transaction of $975,300.00. Following the completion of the transaction, the insider now owns 176,065 shares of the company’s stock, valued at approximately $11,447,746.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jean F. Rankin sold 680 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $64.84, for a total value of $44,091.20. Following the transaction, the director now directly owns 20,918 shares of the company’s stock, valued at approximately $1,356,323.12. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Empirical Finance LLC boosted its stake in InterDigital Wireless by 0.9% in the second quarter. Empirical Finance LLC now owns 32,220 shares of the Wireless communications provider’s stock valued at $2,075,000 after buying an additional 280 shares in the last quarter. GYL Financial Synergies LLC acquired a new stake in InterDigital Wireless in the first quarter valued at about $967,000. Summit Global Investments boosted its stake in InterDigital Wireless by 22.8% in the first quarter. Summit Global Investments now owns 11,300 shares of the Wireless communications provider’s stock valued at $746,000 after buying an additional 2,100 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in InterDigital Wireless by 15.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 125,862 shares of the Wireless communications provider’s stock valued at $8,304,000 after buying an additional 16,704 shares in the last quarter. Finally, Burney Co. boosted its stake in InterDigital Wireless by 4.8% in the first quarter. Burney Co. now owns 33,285 shares of the Wireless communications provider’s stock valued at $2,196,000 after buying an additional 1,515 shares in the last quarter. 74.32% of the stock is owned by hedge funds and other institutional investors.
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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