InterDigital Inc (IDCC)

[dndodd]

InterDigital Sets New 1-Year High After Strong Earnings (IDCC)
Posted by Shane Hupp on Oct 31st, 2014 // No Comments
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InterDigital logoInterDigital (NASDAQ:IDCC) hit a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report, American Banking and Market News reports. The stock traded as high as $49.95 and last traded at $49.53, with a volume of 425,175 shares trading hands. The stock had previously closed at $48.21.
The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.15. The company had revenue of $77.60 million for the quarter, compared to the consensus estimate of $70.90 million. During the same quarter last year, the company posted $0.64 earnings per share. InterDigital’s revenue was down 29.8% compared to the same quarter last year.
A number of analysts have recently weighed in on IDCC shares. Analysts at Zacks upgraded shares of InterDigital from an “underperform” rating to a “neutral” rating in a research note on Thursday, October 2nd. They now have a $40.00 price target on the stock.
The stock’s 50-day moving average is $41.63 and its 200-day moving average is $41.92. The company has a market cap of $1.965 billion and a price-to-earnings ratio of 16.79.
InterDigital, Inc (NASDAQ:IDCC) designs and develops advanced technologies for wireless communications.

http://tickerreport.com/banking-finance/332610/interdigital-sets-new-1-year-high-after-strong-earnings-idcc/