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InterDigital Inc. (IDCC) on Track to Reach $104.00 in a Year

InterDigital Inc. (NASDAQ: IDCC) is -13.61% lower on its value in year-to-date trading and has touched a low of $56.13 and a high of $75.25 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The IDCC stock was last observed hovering at around $60.95 in the last trading session, with the day’s gains setting it 0.93% off its average median price target of $104.00 for the next 12 months. It is also 40.5% off the consensus price target high of $104.00 offered by 2 analysts, but current levels are 40.5% higher than the price target low of $104.00 for the same period.

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Currently trading at $61.88, the stock is -0.04% and -0.23% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.26 million and changing 1.53% at the moment leaves the stock -5.75% off its SMA200. IDCC registered -3.96% loss for a year compared to 6-month loss of -11.14%.

The stock witnessed a 2.88% gain in the last 1 month and extending the period to 3 months gives it a 3.01%, and is 1.05% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.12% over the week and 2.93% over the month.

InterDigital Inc. (IDCC) has around 510 employees, a market worth around $1.88B and $444.40M in sales. Current P/E ratio is 28.61 and Fwd P/E is 15.99. Profit margin for the company is 15.20%. Distance from 52-week low is 10.24% and -17.77% from its 52-week high. The company has generated returns on investments over the last 12 months (4.80%).

InterDigital Inc. (IDCC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for InterDigital Inc. (IDCC) is a “Buy”. 2 analysts offering their recommendations for the stock have an average rating of 1.50, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

InterDigital Inc. is expected to release its quarterly report on 11/03/2022.The EPS is expected to grow by 22.70% this year.

InterDigital Inc. (IDCC) Top Institutional Holders

The shares outstanding are 30.70M, and float is at 30.52M with Short Float at 8.05%.

InterDigital Inc. (IDCC) Insider Activity

A total of 57 insider transactions have happened at InterDigital Inc. (IDCC) in the last six months, with sales accounting for 20 and purchases happening 37 times. The most recent transaction is an insider sale by Hakoranta Eeva K.,the company’sChief Licensing Officer. SEC filings show that Hakoranta Eeva K. sold 1,595 shares of the company’s common stock on Jun 30 at a price of $61.44 per share for a total of $97997.0. Following the sale, the insider now owns 20608.0 shares.

InterDigital Inc. disclosed in a document filed with the SEC on Jun 06 that RANKIN JEAN F (Director) sold a total of 814 shares of the company’s common stock. The trade occurred on Jun 06 and was made at $66.83 per share for $54400.0. Following the transaction, the insider now directly holds 28441.0 shares of the IDCC stock.

Still, SEC filings show that on Jun 06, Markley John D. Jr. (Director) disposed off 800 shares at an average price of $66.83 for $53464.0. The insider now directly holds 14,261 shares of InterDigital Inc. (IDCC).

InterDigital Inc. (IDCC): Who are the competitors?

The company’s main competitors (and peers) include BlackBerry Limited (BB) that is trading -39.57% down over the past 12 months and Apple Inc. (AAPL) that is 6.00% higher over the same period. Intel Corporation (INTC) is -26.39% down on the 1-year trading charts.

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