InterDigital, Inc. (NASDAQ:IDCC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Analyst Ratings Net reports. The brokerage presently has a $48.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.33% from the stock’s current price.

According to Zacks, “INTERDIGITAL COMMUNICATIONS develops and markets advanced digital wireless telecommunications systems using proprietary technologies for voice and data communications and has developed an extensive patent portfolio related to those technologies. “

Shares of InterDigital (NASDAQ:IDCC) traded up 3.39% during midday trading on Tuesday, hitting $44.18. The stock had a trading volume of 153,345 shares. The company’s 50 day moving average price is $47.23 and its 200-day moving average price is $50.33. The firm has a market capitalization of $1.56 billion and a PE ratio of 16.30. InterDigital has a 1-year low of $41.01 and a 1-year high of $60.69.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.44. During the same period last year, the firm earned $0.34 EPS. The firm earned $100.40 million during the quarter, compared to analyst estimates of $79.04 million. InterDigital’s quarterly revenue was up 29.4% on a year-over-year basis. Equities analysts predict that InterDigital will post $2.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 13th will be given a $0.20 dividend. The ex-dividend date is Monday, January 11th. This is an increase from InterDigital’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 1.87%.

IDCC has been the subject of several other research reports. Sidoti assumed coverage on shares of InterDigital in a report on Tuesday, September 29th. They issued a “buy” rating and a $65.00 price target for the company. Barclays boosted their price target on shares of InterDigital from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, November 11th. Finally, TheStreet lowered shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, December 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. InterDigital has an average rating of “Buy” and a consensus target price of $58.25.

A number of large investors recently bought and sold shares of IDCC. Cheyne Capital Management bought a new stake in InterDigital during the fourth quarter valued at approximately $1,513,000. Sigma Planning boosted its stake in InterDigital by 3.9% in the fourth quarter. Sigma Planning now owns 25,107 shares of the company’s stock valued at $1,231,000 after buying an additional 945 shares in the last quarter. Finally, Creative Planning boosted its stake in InterDigital by 0.5% in the fourth quarter. Creative Planning now owns 57,346 shares of the company’s stock valued at $2,812,000 after buying an additional 297 shares in the last quarter.

InterDigital, Inc. (NASDAQ:IDCC) 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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