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Thomson Reuters/Verus Upgrades InterDigital to “Buy” (IDCC)

By: DND in IDCC | Recommend this post (0)
Tue, 24 Sep 13 12:07 AM | 610 view(s)
Boardmark this board | InterDigital Communications 		Msg. 46954 of 48237
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Thomson Reuters/Verus Upgrades InterDigital to “Buy” (IDCC)
Posted by Joseph Griffin on Sep 23rd, 2013 // No Comments
InterDigital Inc. logoInterDigital (NASDAQ:IDCC) was upgraded by stock analysts at Thomson Reuters/Verus from a “hold” rating to a “buy” rating in a report issued on Monday, AR Network reports.
Shares of InterDigital (NASDAQ:IDCC) traded up 4.60% on Monday, hitting $38.41. 225,942 shares of the company’s stock traded hands. InterDigital has a 52-week low of $32.78 and a 52-week high of $48.68. The stock’s 50-day moving average is $36.69 and its 200-day moving average is $42.18. The company has a market cap of $1.582 billion and a price-to-earnings ratio of 6.14.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.07. The company had revenue of $67.70 million for the quarter, compared to the consensus estimate of $68.18 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts expect that InterDigital will post $-0.24 EPS for the current fiscal year.


Separately, analysts at M Partners upgraded shares of InterDigital (NASDAQ:IDCC) to a “buy” rating in a research note to investors on Friday, July 5th.
Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $49.33.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Monday, October 7th.
InterDigital, Inc (NASDAQ:IDCC) designs and develops advanced technologies for wireless communications.

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