B.Riley FBR analyst Eric Wold reiterated a Buy rating on InterDigital (NASDAQ: IDCC) today and set a price target of $90. The company’s shares closed yesterday at $74.05.
Wold wrote:
“Before the open on Thursday (11/1), InterDigital (IDCC) reported 3Q18 results that exceeded both our and consensus estimates (along with the high end of the revenue guidance range). the results and our call back, we are increasingly optimistic around the benefits to come from the integration of the Technicolor patent portfolio. With minimal net impact to the operating cost structure near-term (and possibly near-to-nothing in the long-term), IDCC acquired 18,000 key patents that should not only meaningfully boost the company’s position in its discussion with existing and prospective licensees in the mobile/handset sector, but will help to jump start the company’s entry into new licensing areas within the consumer electronics sector.”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 8.5% and a 51.7% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
InterDigital has an analyst consensus of Moderate Buy, with a price target consensus of $90.
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InterDigital’s market cap is currently $2.58B and has a P/E ratio of 20.46. The company has a Price to Book ratio of 2.53.
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InterDigital, Inc. engages in the design and development of technologies that enable and enhance wireless communications, and capabilities. It operates through the following geographical segments: United States; South Korea; China; Canda; Taiwan; Japan; Sweden; Other Europe; Germany; and Other Asia.
