B. Riley Downgrades InterDigital to Neutral

Brokerage firm B. Riley Downgrades its rating on InterDigital(NASDAQ:IDCC). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by B. Riley was issued on Sep 26, 2016.

In a different note, On Sep 9, 2016, Barclays said it Maintains its rating on InterDigital. In the research note, the firm Raises the price-target to $65.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

InterDigital (IDCC) made into the market gainers list on Thursdays trading session with the shares advancing 2.42% or 1.88 points. Due to strong positive momentum, the stock ended at $79.61, which is also near the day’s high of $79.8. The stock began the session at $78 and the volume stood at 4,31,726 shares. The 52-week high of the shares is $77.77 and the 52 week low is $41.01. The company has a current market capitalization of $2,727 M and it has 3,42,52,083 shares in outstanding.

InterDigital(IDCC) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $75.92M. Analysts had an estimated revenue of $76.60M. Earnings per share were $1.14. Analysts had estimated an EPS of $0.31.

Several Insider Transactions has been reported to the SEC. On Jun 14, 2016, Robert S Roath (director) sold 800 shares at $58.52 per share price.Also, On Jun 14, 2016, John A Kritzmacher (director) sold 1,100 shares at $58.52 per share price.On Jun 14, 2016, Jean F Rankin (director) sold 950 shares at $58.36 per share price, according to the Form-4 filing with the securities and exchange commission.

InterDigital Inc. (InterDigital) designs and develops advanced technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks including second generation (2G) third generation (3G) fourth generation (4G) and IEEE 802 related products and networks. The Company is engaged in developing cellular technologies including those related to code division multiple access (CDMA) and time division multiple access (TDMA) and orthogonal frequency division multiplexing/ orthogonal frequency division multiple access (OFDM/OFDMA) and multiple input multiple output (MIMO). The Company’s wireless background includes engineering and corporate development activities that focus on solutions that apply to other wireless market segments.

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