InterDigital Inc (IDCC)

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INTERDIGITAL UPGRADED AT ZACKS (IDCC)
Christopher T. EllisSep 29, 2015Business0LIKE
InterDigital logoInterDigital (NASDAQ:IDCC) was upgraded by Zacks from a “sell” rating to a “hold” rating in a research report issued on Tuesday, AnalystRatings.Net reports.

According to Zacks, “INTERDIGITAL COMMUNICATIONS develops and markets advanced digital wireless telecommunications systems using proprietary technologies for voice and data communications and has developed an extensive patent portfolio related to those technologies. “

InterDigital (NASDAQ:IDCC) traded up 3.55% during trading on Tuesday, reaching $49.54. 559,448 shares of the company’s stock traded hands. InterDigital has a one year low of $38.64 and a one year high of $60.69. The firm has a market capitalization of $1.78 billion and a PE ratio of 21.19. The company has a 50-day moving average price of $48.71 and a 200 day moving average price of $53.64.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.11. The firm had revenue of $118.55 million for the quarter, compared to analysts’ expectations of $108.27 million. During the same period last year, the firm earned $1.93 earnings per share. InterDigital’s revenue for the quarter was down 39.0% compared to the same quarter last year. On average, analysts anticipate that InterDigital will post $2.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.62%.

Several other research firms have also weighed in on IDCC. Barclays lifted their target price on shares of InterDigital from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Sidoti assumed coverage on shares of InterDigital in a research report on Tuesday. They set a “buy” rating and a $65.00 price target on the stock.

In related news, EVP Jannie K. Lau sold 1,604 shares of the company’s stock in a transaction that occurred on Thursday, July 16th. The shares were sold at an average price of $57.50, for a total transaction of $92,230.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

InterDigital, Inc. (NASDAQ:IDCC) designs and develops advanced technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks. The Company is engaged in developing cellular technologies, including those related to code division multiple access (CDMA) and time division multiple access (TDMA) and orthogonal frequency division multiplexing/ orthogonal frequency division multiple access (OFDM/OFDMA) and multiple input multiple output (MIMO). The Company’s wireless background includes engineering and corporate development activities that focus on solutions that apply to other wireless market segments.

To get a free copy of the research report on InterDigital (IDCC), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com

http://www.themarketbusiness.com/2015-09-29-interdigital-upgraded-at-zacks-idcc