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 $67.85.
Wold commented:
“Before the open on Thursday (5/2), InterDigital (IDCC) reported 1Q19 results that were mixed vs. our estimates as slightly higher revenues were offset by elevated expenses around legal/patent enforcement. However, coming out of the results/callback, we are increasingly positive around the opportunity for management to leverage the Technicolor acquisition to both drive unsigned Chinese handset OEMs to the finish line (along with some create structuring around past infringement payments) as well as an earlier-than-anticipated move into various CE segments (as evidenced by ~$20M in recurring license revenues already realized).”
According to TipRanks.com, Wold ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.3% and a 38.4% 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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The company has a one-year high of $85.85 and a one-year low of $62.34. Currently, InterDigital has an average volume of 312.3K.
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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.
