December 1, 2016 - By Hazel Jackson · 0 Comments
Interdigital Inc (NASDAQ:IDCC) institutional sentiment increased to 1.3 in 2016 Q2. Its up 0.38, from 0.92 in 2016Q1. The ratio increased, as 85 funds started new and increased stock positions, while 92 reduced and sold holdings in Interdigital Inc. The funds in our partner’s database now possess: 23.06 million shares, down from 23.68 million shares in 2016Q1. Also, the number of funds holding Interdigital Inc in their top 10 stock positions decreased from 5 to 4 for a decrease of 1. Sold All: 19 Reduced: 73 Increased: 63 New Position: 22.
InterDigital, Inc. designs and develops technologies for wireless communications. The company has a market cap of $2.61 billion. The Firm has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation , third generation (3G), fourth generation (4G) and IEEE 802 related products and networks. It has a 13.26 P/E ratio. The Company’s subsidiaries hold a portfolio of approximately 20,400 patents and patent applications related to a range of technologies, including the fundamental technologies that enable wireless communications.
The stock decreased 2.08% or $1.65 during the last trading session, hitting $77.55. About 210,525 shares traded hands. InterDigital, Inc. (NASDAQ:IDCC) has risen 38.68% since April 28, 2016 and is uptrending. It has outperformed by 32.75% the S&P500.
Analysts await InterDigital, Inc. (NASDAQ:IDCC) to report earnings on February, 16. They expect $0.84 EPS, down 8.70% or $0.08 from last year’s $0.92 per share. IDCC’s profit will be $28.27M for 23.08 P/E if the $0.84 EPS becomes a reality. After $2.99 actual EPS reported by InterDigital, Inc. for the previous quarter, Wall Street now forecasts -71.91% negative EPS growth.
According to Zacks Investment Research, “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.”
Fort L.P. holds 5.66% of its portfolio in InterDigital, Inc. for 248,977 shares. Permit Capital Llc owns 123,230 shares or 4.89% of their US portfolio. Moreover, Ulysses Management Llc has 3.01% invested in the company for 459,250 shares. The Connecticut-based Cardinal Capital Management Llc Ct has invested 2.41% in the stock. Shannon River Fund Management Llc, a New York-based fund reported 150,000 shares.#img1#
Ratings analysis reveals 25% of InterDigital’s analysts are positive. Out of 4 Wall Street analysts rating InterDigital, 1 give it “Buy”, 0 “Sell” rating, while 3 recommend “Hold”. The lowest target is $55 while the high is $75. The stock’s average target of $70 is -9.74% below today’s ($77.55) share price. IDCC was included in 8 notes of analysts from August 11, 2015. The company was downgraded on Tuesday, August 11 by Zacks. Dougherty & Company downgraded InterDigital, Inc. (NASDAQ:IDCC) on Wednesday, October 5 to “Neutral” rating. Barclays Capital maintained the shares of IDCC in a report on Friday, September 9 with “Equal Weight” rating. B. Riley & Co downgraded the shares of IDCC in a report on Monday, September 26 to “Neutral” rating. The firm has “Buy” rating given on Tuesday, February 23 by B. Riley & Co. As per Wednesday, November 11, the company rating was maintained by Barclays Capital. The firm earned “Buy” rating on Tuesday, September 29 by Sidoti.
InterDigital, Inc., incorporated on March 23, 2007, creates and develops technologies for wireless communications. The Firm 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’s subsidiaries hold a portfolio of approximately 20,400 patents and patent applications related to a range of technologies, including the fundamental technologies that enable wireless communications. Products integrating its technologies include mobile devices, such as cellular phones, tablets, notebook computers and wireless personal digital assistants; wireless infrastructure equipment, such as base stations, and components, dongles and modules for wireless devices. The Firm is focused on approximately two technology areas: cellular wireless technology and Internet of Things (IoT) technology.
More news for InterDigital, Inc. (NASDAQ:IDCC) were recently published by: Fool.com, which released: “Is InterDigital Inc a Buy?” on September 28, 2016. Fool.com‘s article titled: “Why InterDigital, Inc. Fell 11% in October” and published on November 12, 2016 is yet another important article.
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By Hazel Jackson