B.Riley FBR Reiterates a Buy Rating on InterDigital (IDCC)

B.Riley FBR analyst Eric Wold reiterated a Buy rating on InterDigital (IDCCResearch Report) today and set a price target of $90.00. The company’s shares closed last Wednesday at $54.06.

According to TipRanks.com, Wold ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -21.0% and a 22.2% success rate. Wold covers the Services sector, focusing on stocks such as Dolby Laboratories, National Cinemedia, and Cinemark Holdings.

InterDigital has an analyst consensus of Moderate Buy, with a price target consensus of $90.00.

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Based on InterDigital’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $76.21 million and net profit of $116K. In comparison, last year the company earned revenue of $68.63 million and had a GAAP net loss of $2.8 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.