In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on InterDigital (IDCC), with a price target of $90. The company’s shares closed yesterday at $73.16.
Wold observed:
“InterDigital (IDCC) is scheduled to report 4Q18 results before the open on a conference call at 10:00am ET. Although we are not making any changes to our revenue estimates (with our 4Q18 revenue estimate in line with management’s mid-December guidance update), we are lowering our 4Q18 and 1Q19 EPS estimates to account for an expectation of elevated operating expenses as the Technicolor acquisition is integrated. While the near-term pressure is greater than we originally anticipated, we view this as the right strategy by management to ensure that license expansion and renewal discussions are not negatively impacted by any cost-reduction timetables (i.e., benefiting near-term profitability at the expense of longer-term growth opportunities).”
According to TipRanks.com, Wold is ranked 0 out of 5 stars with an average return of -3.8% and a 38.5% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
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 >>
InterDigital’s market cap is currently $2.52B and has a P/E ratio of 22.71. The company has a Price to Book ratio of 2.52.
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 operates through the following geographical segments: United States; South Korea; China; Canda; Taiwan; Japan; Sweden; Other Europe; Germany; and Other Asia.
