What’s Propelling InterDigital, Inc. (IDCC) to Reach 52-Week High?

June 14, 2018 - By Kenneth Lin

InterDigital, Inc. (NASDAQ:IDCC) Logo

Investors sentiment increased to 1.21 in 2018 Q1. Its up 0.04, from 1.17 in 2017Q4. It is positive, as 21 investors sold InterDigital, Inc. shares while 76 reduced holdings. 33 funds opened positions while 84 raised stakes. 24.72 million shares or 1.59% more from 24.33 million shares in 2017Q4 were reported.
The Switzerland-based Swiss Bankshares has invested 0.01% in InterDigital, Inc. (NASDAQ:IDCC). State Board Of Administration Of Florida Retirement Systems owns 0% invested in InterDigital, Inc. (NASDAQ:IDCC) for 14,277 shares. Ubs Asset Mngmt Americas Inc owns 23,423 shares. 381,220 were reported by Deutsche State Bank Ag. 152,941 were accumulated by Principal Grp Incorporated. Jpmorgan Chase Company owns 404,320 shares. Pnc Fincl Svcs Inc has 785 shares. Victory Cap Management owns 0% invested in InterDigital, Inc. (NASDAQ:IDCC) for 10,956 shares. 4.29 million were accumulated by Blackrock. Retirement Of Alabama has invested 0.05% in InterDigital, Inc. (NASDAQ:IDCC). Public Employees Retirement Association Of Colorado owns 0% invested in InterDigital, Inc. (NASDAQ:IDCC) for 5,850 shares. Petrus Tru Lta owns 3,114 shares. Dupont Capital Management reported 8,127 shares. Sns Financial Gp Limited Liability Corp owns 3,528 shares for 0.07% of their portfolio. 23,500 were accumulated by Midas Corp.

The stock of InterDigital, Inc. (NASDAQ:IDCC) hit a new 52-week high and has $91.64 target or 8.00 % above today’s $84.85 share price. The 6 months bullish chart indicates low risk for the $2.95B company. The 1-year high was reported on Jun, 14 by Barchart.com. If the $91.64 price target is reached, the company will be worth $235.84 million 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.

The stock increased 1.19% or $1 during the last trading session, reaching $84.85. About 130,341 shares traded. InterDigital, Inc. (NASDAQ:IDCC) has declined 3.68% since June 14, 2017 and is downtrending. It has underperformed by 16.25% the S&P500.

Analysts await InterDigital, Inc. (NASDAQ:IDCC) to report earnings on July, 26. They expect $0.28 earnings per share, down 80.82 % or $1.18 from last year’s $1.46 per share. IDCC’s profit will be $9.73M for 75.76 P/E if the $0.28 EPS becomes a reality. After $1.29 actual earnings per share reported by InterDigital, Inc. for the previous quarter, Wall Street now forecasts -78.29 % negative EPS growth.

InterDigital, Inc. (NASDAQ:IDCC) Ratings Coverage

Among 4 analysts covering InterDigital (NASDAQ:IDCC), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. InterDigital had 10 analyst reports since January 3, 2018 according to SRatingsIntel. FBR Capital maintained InterDigital, Inc. (NASDAQ:IDCC) on Wednesday, January 3 with “Buy” rating. The company was initiated on Tuesday, June 12 by Roth Capital. FBR Capital maintained InterDigital, Inc. (NASDAQ:IDCC) on Wednesday, April 11 with “Buy” rating. FBR Capital maintained InterDigital, Inc. (NASDAQ:IDCC) on Wednesday, May 23 with “Buy” rating. The rating was upgraded by Dougherty on Friday, February 23 to “Buy”. FBR Capital maintained the shares of IDCC in report on Thursday, February 22 with “Buy” rating. On Friday, March 2 the stock rating was maintained by FBR Capital with “Buy”. The stock of InterDigital, Inc. (NASDAQ:IDCC) earned “Buy” rating by FBR Capital on Wednesday, January 10. The firm has “Buy” rating by FBR Capital given on Monday, February 12.

More notable recent InterDigital, Inc. (NASDAQ:IDCC) news were published by: Nasdaq.com which released: “InterDigital works together with Mobile industry to deliver complete 5G system standard on time” on June 14, 2018, also Seekingalpha.com with their article: “InterDigital Inc. Is A Buy” published on June 08, 2018, Streetinsider.com published: “InterDigital (IDCC) Declares $.35 Quarterly Dividend; 1.8% Yield” on May 31, 2018. More interesting news about InterDigital, Inc. (NASDAQ:IDCC) were released by: 247Wallst.com and their article: “Top Analyst Upgrades and Downgrades: Barrick Gold, Buckeye Partners, Interdigital, Penn Virginia, SeaWorld, Weight …” published on June 12, 2018 as well as Streetinsider.com‘s news article titled: “Roth Capital Starts InterDigital Inc. (IDCC) at Buy” with publication date: June 12, 2018.

InterDigital, Inc. designs and develops technologies that enable and enhance wireless communications in the United States and internationally. The company has market cap of $2.95 billion. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks. It has a 17.42 P/E ratio. The firm develops cellular technologies, such as technologies related to CDMA, TDMA, OFDM/OFDMA, and MIMO for use in 2G, 3G, and 4G wireless networks and mobile terminal devices; and other wireless technologies related to Wi-Fi, WLAN, WMAN, and WRAN.

InterDigital, Inc. (NASDAQ:IDCC) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: