Shares of InterDigital Wireless Inc (NASDAQ:IDCC) have been given a consensus rating of “Buy” by the six analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $80.00.
A number of brokerages have issued reports on IDCC. ValuEngine upgraded InterDigital Wireless from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. B. Riley reissued a “buy” rating and set a $80.00 target price (down previously from $90.00) on shares of InterDigital Wireless in a report on Friday, August 2nd. Finally, BidaskClub raised InterDigital Wireless from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 10th.
Several institutional investors have recently made changes to their positions in IDCC. Empirical Finance LLC raised its holdings in shares of InterDigital Wireless by 0.9% during the second quarter. Empirical Finance LLC now owns 32,220 shares of the Wireless communications provider’s stock valued at $2,075,000 after acquiring an additional 280 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in shares of InterDigital Wireless in the second quarter valued at approximately $369,000. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of InterDigital Wireless by 12.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,746 shares of the Wireless communications provider’s stock valued at $1,143,000 after purchasing an additional 2,000 shares during the last quarter. Wealthcare Capital Management LLC increased its holdings in shares of InterDigital Wireless by 190.5% in the second quarter. Wealthcare Capital Management LLC now owns 1,525 shares of the Wireless communications provider’s stock valued at $98,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of InterDigital Wireless in the second quarter valued at approximately $1,893,000. 72.66% of the stock is owned by institutional investors and hedge funds.
NASDAQ:IDCC traded up $0.35 during mid-day trading on Monday, hitting $57.42. 210,600 shares of the company’s stock traded hands, compared to its average volume of 332,873. The company has a market capitalization of $1.78 billion, a P/E ratio of 31.72, a P/E/G ratio of 8.85 and a beta of 1.01. The company has a fifty day moving average of $55.39 and a 200 day moving average of $58.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.06 and a current ratio of 3.06. InterDigital Wireless has a twelve month low of $47.02 and a twelve month high of $76.43.
InterDigital Wireless (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, October 31st. The Wireless communications provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.27. The company had revenue of $72.52 million for the quarter, compared to the consensus estimate of $72.82 million. InterDigital Wireless had a return on equity of 1.07% and a net margin of 3.08%. InterDigital Wireless’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. On average, research analysts expect that InterDigital Wireless will post 0.43 earnings per share for the current fiscal year.
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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