B.Riley FBR Reaffirms Their Buy Rating on InterDigital (IDCC)


B.Riley FBR analyst Eric Wold reiterated a Buy rating on InterDigital (IDCC) today and set a price target of $90. The company’s shares closed yesterday at $63.69, close to its 52-week low of $62.34.

Wold wrote:

“We do not believe this level of optimism from management—and their ability to take advantage of a stock price that does not reflect the increased opportunity in front of the company—should be overlooked by investors.”

According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -6.4% and a 31.9% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

Currently, the analyst consensus on InterDigital is a Moderate Buy with an average price target of $90.

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Based on InterDigital’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.8 million. In comparison, last year the company had a net profit of $29.93 million.

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InterDigital, Inc. engages in the design and development of technologies that enable and enhance wireless communications, and capabilities. It focuses on mobile technology and devices, which includes cellular wireless technology, Internet of Things, technology, video coding & transmission, sensor and sensor fusion technology.

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