Colliers Securities analyst Derek Soderberg reiterated a Buy rating on InterDigital (IDCC) today and set a price target of $87.00. The company’s shares closed last Thursday at $69.32.
According to TipRanks.com, Soderberg is a 1-star analyst with an average return of -1.0% and a 46.2% success rate. Soderberg covers the Technology sector, focusing on stocks such as Enthusiast Gaming Holdings, Lattice Semicon, and Axon Enterprise.
Currently, the analyst consensus on InterDigital is a Moderate Buy with an average price target of $88.50, representing a 30.0% upside. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $90.00 price target.
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Based on InterDigital’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $90.79 million and GAAP net loss of $1.35 million. In comparison, last year the company earned revenue of $102 million and had a net profit of $13.75 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. It also offers digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks. The company was founded by Seligsohn I. Sherwin in 1972 and is headquartered in Wilmington, DE.
