InterDigital Wireless Inc (NASDAQ:IDCC) – Stock analysts at Dougherty & Co lowered their FY2019 earnings per share (EPS) estimates for InterDigital Wireless in a report issued on Tuesday, February 12th. Dougherty & Co analyst C. Anderson now forecasts that the Wireless communications provider will post earnings of $2.78 per share for the year, down from their prior estimate of $2.82.
A number of other equities research analysts have also recently commented on IDCC. TheStreet cut InterDigital Wireless from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. ValuEngine upgraded InterDigital Wireless from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. BidaskClub upgraded InterDigital Wireless from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 6th. B. Riley set a $90.00 price target on InterDigital Wireless and gave the company a “buy” rating in a research note on Thursday, December 6th. Finally, Sidoti started coverage on InterDigital Wireless in a research note on Thursday, January 3rd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $93.20.
A number of institutional investors have recently bought and sold shares of IDCC. Raymond James & Associates acquired a new stake in InterDigital Wireless during the second quarter worth about $210,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in InterDigital Wireless during the third quarter worth about $1,804,000. Oakbrook Investments LLC acquired a new stake in InterDigital Wireless during the third quarter worth about $212,000. Empirical Finance LLC grew its holdings in InterDigital Wireless by 7.2% during the third quarter. Empirical Finance LLC now owns 35,121 shares of the Wireless communications provider’s stock worth $2,810,000 after acquiring an additional 2,358 shares during the period. Finally, Empowered Funds LLC grew its holdings in InterDigital Wireless by 4.6% during the third quarter. Empowered Funds LLC now owns 39,105 shares of the Wireless communications provider’s stock worth $3,119,000 after acquiring an additional 1,717 shares during the period. 77.52% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO William J. Merritt sold 15,000 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $71.62, for a total transaction of $1,074,300.00. Following the sale, the chief executive officer now directly owns 156,549 shares of the company’s stock, valued at $11,212,039.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 23rd. Investors of record on Wednesday, January 9th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.91%. The ex-dividend date was Tuesday, January 8th. InterDigital Wireless’s dividend payout ratio (DPR) is 23.10%.
About InterDigital Wireless
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. 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.
See Also: Understanding Analyst Ratings
Receive News & Ratings for InterDigital Wireless Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital Wireless and related companies with MarketBeat.com's FREE daily email newsletter.