B.Riley FBR Sticks to Its Buy Rating for 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 $66.05, close to its 52-week low of $62.34.

Wold observed:

“InterDigital (IDCC) is scheduled to report 1Q19 results before the open on Thursday, 5/2, with a conference call at 10:00am ET. Although we are lowering our 1Q19 estimates into the print to conservatively account for the contra revenue charge noted in a recent 8-K, we believe the focus of the call will be on (1) the progress in integrating the Technicolor acquisition (with a shift from cost containment to incremental license revenue gains); and (2) any improving outlook into 5G contributions over the next 12-18 months on license adjustments and IoT ramp contributions.”

According to TipRanks.com, Wold ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.2% and a 40.4% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for InterDigital with a $90 average price target.

See today’s analyst top recommended stocks >>

Based on InterDigital’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $1.83 million. In comparison, last year the company had a net profit of $29.93 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts