InterDigital (IDCC) was Downgraded by Dougherty & Company to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Dougherty & Company advised their investors in a research report released on Oct 5, 2016.
Many Wall Street Analysts have commented on InterDigital. Company shares were Reiterated by Barclays on Sep 9, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 75 from a previous price target of $65 .
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 closed down -0.4 points or -0.51% at $78.08 with 2,09,970 shares getting traded on Tuesday. Post opening the session at $78.85, the shares hit an intraday low of $77.9 and an intraday high of $79.48 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
Investors should note that on Sep 22, 2016, InterDigital announced a cash dividend of $0.3000. The company’s management has announced Oct 10, 2016 as the ex-dividend date and fixed the record date on Oct 12, 2016. The payable date has been fixed on Oct 26, 2016.
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.