M Partners reaffirmed their buy rating on shares of InterDigital (NASDAQ: IDCC) in a research note released on Wednesday morning. They currently have a $53.00 price target on the stock, up from their previous price target of $51.00.
“A conference call was held on Thursday February 21st, and the company filed its 10-K report yesterday. After record Q3’12 earnings, driven by the windfall from the sale of patents for approximately $375M, we anticipate a very weak earnings quarter for Q4’12. The company beat our expectation by recognizing past infringement revenue associated with a new licensee.,” the firm’s analyst wrote.
InterDigital traded down 1.30% on Wednesday, hitting $43.8235. InterDigital has a 1-year low of $22.37 and a 1-year high of $46.14. The stock’s 50-day moving average is currently $44.34. The company has a market cap of $1.796 billion and a price-to-earnings ratio of 7.09.
A number of other analysts have also recently weighed in on IDCC. Analysts at Zacks upgraded shares of InterDigital from a neutral rating to an outperform rating in a research note to investors on Monday. They now have a $47.00 price target on the stock. Separately, analysts at William Blair reiterated an outperform rating on shares of InterDigital in a research note to investors on Wednesday, January 2nd. Finally, analysts at Stephens downgraded shares of InterDigital from an overweight rating to an equal weight rating in a research note to investors on Friday, December 7th. They now have a $52.00 price target on the stock.
Three research analysts have rated the stock with a buy rating, and three have issued a hold rating to the company. InterDigital has an average rating of overweight and an average target price of $46.25.
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