Interdigital Inc [IDCC] stock prices are down -1.05% to $96.39 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The IDCC shares have gain 0.57% over the last week, with a monthly amount drifted -8.05%, and not seem to be holding up well over a long-time horizon.
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On 4, April 2024, InterDigital Announces Convertibility of 3.50% Senior Convertible Notes Due 2027. In a post published today on Yahoo Finance, InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, announced today that, pursuant to the terms of the Indenture governing its 3.50% Senior Convertible Notes due 2027 (the “Notes”), the Notes are convertible during its calendar quarter ending June 30, 2024. The current conversion rate of the Notes is 12.9041 shares of InterDigital’s Common Stock per $1,000 principal amount of the Notes.
From an analyst’s perspective:
Interdigital Inc [NASDAQ: IDCC] stock has seen the most recent analyst activity on April 01, 2024, when BofA Securities downgraded its rating to a Underperform and also revised its price target to $100 from $140. On May 10, 2023, upgrade upgraded it’s rating to Buy and revised its price target to $105 on the stock. William Blair started tracking the stock assigning a Outperform rating. Jefferies initiated its recommendation with a Buy and recommended $80 as its price target on December 09, 2022. BofA Securities started tracking with a Underperform rating for this stock on July 25, 2022, and assigned it a price target of $60. In a note dated July 16, 2020, Oppenheimer initiated an Outperform rating and provided a target price of $90 on this stock.
The stock price of Interdigital Inc [IDCC] has been fluctuating between $66.82 and $119.86 over the past year. Currently, Wall Street analysts expect the stock to reach $80 within the next 12 months. Interdigital Inc [NASDAQ: IDCC] shares were valued at $96.39 at the most recent close of the market. An investor can expect a potential drop of -17.0% based on the average IDCC price forecast.
Analyzing the IDCC fundamentals
The Interdigital Inc [NASDAQ:IDCC] reported sales of 549.59M for trailing twelve months, representing a drop of -9.86%. Gross Profit Margin for this corporation currently stands at 0.86% with Operating Profit Margin at 0.4%, Pretax Profit Margin comes in at 0.43%, and Net Profit Margin reading is 0.39%. To continue investigating profitability, this company’s Return on Assets is posted at 0.12, Equity is 0.36 and Total Capital is 0.25. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.07.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 95.74 points at the first support level, and at 95.10 for the second support level. However, for the 1st resistance point, the stock is sitting at 97.01, and for the 2nd resistance point, it is at 97.64.
Interdigital Inc [IDCC] reported earnings per share of $1.41 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.89/share, meaning a difference of $0.52 and a surprise factor of 58.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.72 per share as compared to estimates of $0.66 per share, a difference of $1.06 representing a surprise of 160.60%.
Ratios To Look Out For
It’s worth pointing out that Interdigital Inc [NASDAQ:IDCC]’s Current Ratio is 1.33. As well, the Quick Ratio is 1.33, while the Cash Ratio is 0.5. Considering the valuation of this stock, the price to sales ratio is 4.47, the price to book ratio is 4.24 and price to earnings (TTM) ratio is 12.84.
Transactions by insiders
Recent insider trading involved Pankaj Rajesh, Chief Technology Officer, that happened on Apr 05 ’24 when 650.0 shares were sold. Chief Licensing Officer, Hakoranta Eeva K. completed a deal on Apr 03 ’24 to sell 699.0 shares. Meanwhile, Chief Licensing Officer Hakoranta Eeva K. sold 3910.0 shares on Mar 19 ’24.
