StockNews.com Downgrades InterDigital (NASDAQ:IDCC) to Hold

InterDigital (NASDAQ:IDCC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Separately, Jefferies Financial Group reissued a “hold” rating and issued a $100.00 price target (down previously from $106.00) on shares of InterDigital in a research report on Monday, May 13th.

InterDigital Stock Performance

NASDAQ IDCC opened at $136.76 on Tuesday. The company’s 50 day moving average is $123.00 and its 200-day moving average is $111.25. InterDigital has a 12-month low of $74.65 and a 12-month high of $140.60. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.45 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 1.18 and a beta of 1.42.

Insider Activity at InterDigital

In related news, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total transaction of $86,460.00. Following the completion of the transaction, the director now owns 12,202 shares of the company’s stock, valued at $1,406,646.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On InterDigital

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in InterDigital by 16.1% during the fourth quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock valued at $8,539,000 after acquiring an additional 10,926 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in InterDigital during the fourth quarter valued at approximately $13,309,000. Trexquant Investment LP purchased a new position in InterDigital in the 4th quarter worth approximately $1,779,000. Norges Bank purchased a new position in InterDigital in the 4th quarter worth approximately $18,987,000. Finally, Duality Advisers LP grew its stake in InterDigital by 1,380.5% in the 1st quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock worth $3,441,000 after buying an additional 30,137 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.