GYL Financial Synergies LLC purchased a new position in shares of InterDigital Wireless Inc (NASDAQ:IDCC) during the first quarter, HoldingsChannel.com reports. The firm purchased 14,650 shares of the Wireless communications provider’s stock, valued at approximately $967,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in InterDigital Wireless by 40.6% during the first quarter. Royce & Associates LP now owns 700 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 202 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in InterDigital Wireless during the fourth quarter worth $79,000. Penserra Capital Management LLC purchased a new position in InterDigital Wireless during the first quarter worth $83,000. Ffcm LLC increased its position in InterDigital Wireless by 235.0% during the fourth quarter. Ffcm LLC now owns 1,953 shares of the Wireless communications provider’s stock worth $130,000 after buying an additional 1,370 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of InterDigital Wireless by 22.0% in the fourth quarter. Bank of Montreal Can now owns 3,023 shares of the Wireless communications provider’s stock valued at $201,000 after purchasing an additional 546 shares during the period. Hedge funds and other institutional investors own 74.36% of the company’s stock.
In other InterDigital Wireless news, Director Jean F. Rankin sold 680 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $64.84, for a total transaction of $44,091.20. Following the completion of the sale, the director now owns 20,918 shares of the company’s stock, valued at $1,356,323.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.
Shares of NASDAQ:IDCC traded down $0.20 during midday trading on Friday, reaching $64.70. The company’s stock had a trading volume of 25,599 shares, compared to its average volume of 473,702. The company has a market cap of $2.05 billion, a P/E ratio of 35.74, a P/E/G ratio of 7.08 and a beta of 1.10. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.02. InterDigital Wireless Inc has a 1 year low of $62.34 and a 1 year high of $85.85.
InterDigital Wireless (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). InterDigital Wireless had a net margin of 10.79% and a return on equity of 3.27%. The firm had revenue of $68.63 million for the quarter, compared to analysts’ expectations of $70.19 million. During the same period last year, the firm posted $1.29 EPS. InterDigital Wireless’s revenue was down 21.5% on a year-over-year basis. Sell-side analysts expect that InterDigital Wireless Inc will post 0.61 earnings per share for the current fiscal year.
A number of brokerages have recently commented on IDCC. BidaskClub raised InterDigital Wireless from a “strong sell” rating to a “sell” rating in a research report on Friday, April 5th. Zacks Investment Research raised InterDigital Wireless from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Tuesday, February 26th. TheStreet downgraded InterDigital Wireless from a “b” rating to a “c” rating in a research report on Thursday, February 28th. Finally, B. Riley set a $90.00 price objective on InterDigital Wireless and gave the company a “buy” rating in a research report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $91.00.
InterDigital Wireless Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks.
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