InterDigital (IDCC) was Reiterated by Barclays to “Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 75 from a previous price target of $65 . Barclays advised their investors in a research report released on Sep 9, 2016.
On the company’s financial health, InterDigital reported $1.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.76 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.38. The company had revenue of $75.92 million for the quarter, compared to analysts expectations of $76.54 million. The company’s revenue was down -36.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.89 EPS.
InterDigital opened for trading at $71.96 and hit $73.03 on the upside on Wednesday, eventually ending the session at $72.99, with a gain of 1.32% or 0.95 points. The heightened volatility saw the trading volume jump to 386,640 shares. Company has a market cap of $2,500 M.
In a different news, on Jun 14, 2016, Robert S Roath (director) sold 800 shares at $58.52 per share price. According to the SEC, on Jun 14, 2016, John A Kritzmacher (director) sold 1,100 shares at $58.52 per share price. On Jun 14, 2016, Jean F Rankin (director) sold 950 shares at $58.36 per share price, according to the Form-4 filing with the securities and exchange commission.
InterDigital Inc. (InterDigital) 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 Companys wireless background includes engineering and corporate development activities that focus on solutions that apply to other wireless market segments.