The stock of InterDigital, Inc. (NASDAQ:IDCC) hit a new 52-week high and has $128.74 target or 64.00% above today’s $78.50 share price. The 5 months bullish chart indicates low risk for the $2.70B company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $128.74 price target is reached, the company will be worth $1.73B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 166,962 shares traded hands. InterDigital, Inc. (NASDAQ:IDCC) has risen 59.26% since February 29, 2016 and is uptrending. It has outperformed by 47.04% the S&P500.
Analysts await InterDigital, Inc. (NASDAQ:IDCC) to report earnings on November, 4. They expect $0.40 earnings per share, down 41.18% or $0.28 from last year’s $0.68 per share. IDCC’s profit will be $13.76M for 49.06 P/E if the $0.40 EPS becomes a reality. After $0.48 actual earnings per share reported by InterDigital, Inc. for the previous quarter, Wall Street now forecasts -16.67% negative EPS growth.
InterDigital, Inc. (NASDAQ:IDCC) Ratings Coverage
Out of 3 analysts covering InterDigital (NASDAQ:IDCC), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. InterDigital has been the topic of 7 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Tuesday, February 23 by B. Riley & Co. Barclays Capital maintained InterDigital, Inc. (NASDAQ:IDCC) rating on Wednesday, November 11. Barclays Capital has “Equal Weight” rating and $60 price target. Zacks downgraded the shares of IDCC in a report on Tuesday, August 11 to “Buy” rating. The stock of InterDigital, Inc. (NASDAQ:IDCC) has “Buy” rating given on Tuesday, September 29 by Sidoti. The firm earned “Equal Weight” rating on Friday, September 9 by Barclays Capital. The firm has “Neutral” rating by B. Riley & Co given on Monday, September 26.
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.”
Insitutional Activity: The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.07, from 0.99 in 2016Q1. The ratio fall, as 19 funds sold all InterDigital, Inc. shares owned while 73 reduced positions. 22 funds bought stakes while 63 increased positions. They now own 23.06 million shares or 2.63% less from 23.68 million shares in 2016Q1.
Loomis Sayles Communication L P reported 218 shares or 0% of all its holdings. Sigma Planning last reported 0.12% of its portfolio in the stock. Principal Group Inc owns 131,364 shares or 0.01% of their US portfolio. Louisiana State Employees Retirement holds 9,200 shares or 0.03% of its portfolio. Ameriprise Fincl Inc accumulated 162,519 shares or 0.01% of the stock. Quantitative Investment Ltd Liability Company reported 4,700 shares or 0.01% of all its holdings. Adams Diversified Equity Fund Incorporated holds 8,100 shares or 0.03% of its portfolio. Bessemer Group Inc Inc has invested 0% of its portfolio in InterDigital, Inc. (NASDAQ:IDCC). The Ohio-based Fifth Third Commercial Bank has invested 0% in InterDigital, Inc. (NASDAQ:IDCC). Blackrock holds 14,627 shares or 0% of its portfolio. Moreover, State Street has 0.01% invested in InterDigital, Inc. (NASDAQ:IDCC) for 1.07M shares. Aqr Cap Ltd holds 0% of its portfolio in InterDigital, Inc. (NASDAQ:IDCC) for 41,526 shares. Cardinal Limited Liability Co Ct last reported 2.41% of its portfolio in the stock. The Kentucky-based Teachers Retirement System Of The State Of Kentucky has invested 0.01% in InterDigital, Inc. (NASDAQ:IDCC). Dupont Capital Mngmt reported 9,771 shares or 0.01% of all its holdings.
More recent InterDigital, Inc. (NASDAQ:IDCC) news were published by: Fool.com which released: “Is InterDigital Inc a Buy?” on September 28, 2016. Also Finance.Yahoo.com published the news titled: “Bull of the Day: InterDigital Inc. (IDCC)” on September 20, 2016. Benzinga.com‘s news article titled: “Barclays On InterDigital: IoT Goal Conservative, Sees Continued Capital Returns” with publication date: September 23, 2016 was also an interesting one.
IDCC Company Profile
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.
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