InterDigital, a global research and development company specializing in wireless and related technologies, has received an upgrade from “hold” to “buy” rating by research analysts at StockNews.com. This upgrade comes after Roth Mkm raised their price objective on InterDigital shares from $146.00 to $160.00 and gave the company a “buy” rating in a recent research report.
In its latest quarterly earnings report, InterDigital exceeded expectations, reporting earnings per share (EPS) of $4.20, surpassing the consensus estimate of $0.43 by an impressive $3.77. The company also generated $223.49 million in revenue for the quarter, surpassing the consensus estimate of $95.63 million. InterDigital’s net margin stood at 37.99%, and its return on equity was 44.57%. Analysts predict that the company will post 9.04 earnings per share for the current year.
Recent insider trading activity at InterDigital includes Director Derek K. Aberle selling 2,005 shares of the company’s stock at an average price of $134.40, totaling $269,472.00. Additionally, CTO Rajesh Pankaj sold 700 shares at an average price of $142.78, amounting to $99,946.00. In the last ninety days, insiders have sold a total of 5,205 shares, worth $716,218. Insiders currently own 2.30% of the company’s stock.
Several large investors have made changes to their positions in InterDigital, including Vanguard Group Inc., Disciplined Growth Investors Inc. MN, Pacer Advisors Inc., Reinhart Partners LLC., and Principal Financial Group Inc.
InterDigital’s focus on wireless, visual, and AI technologies has positioned it as a key player in the communications and entertainment industry. The company licenses its technologies to various companies, including wireless communications providers, consumer electronics manufacturers, IoT device makers, and cloud-based service providers.