M-Partners Recommends Buying InterDigital (IDCC) On Weakness
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Price: $45.18 -1.63%
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade IDCC Now!
M-Partners analyst Ron Shuttleworth told StreetInsider.com he would recommend buying InterDigital, Inc. (Nasdaq: IDCC) on weakness related to Google's (Nasdaq: GOOG) takeover of Motorola Mobility Holdings (NYSE: MMI).
Shares of InterDigital are down 22 percent Monday on speculation that Google will likely pull out of the bidding for InterDigital now that it has acquired Motorola Mobility and its treasure trove of patents. With Google out of this bidding this could impact any potential sale price.
It had been reported that Apple (Nasdaq: AAPL), Google, Samsung and others have been exploring buying the company due to its strong patent portfolio. Some have even said a major bidding war was developing, with Google and Apple in the lead.
On July 19th, InterDigital announced it would explore a sale. The stock is still up 42 percent since the announcement, despite the recent sell-off.
In the past, Shuttleworth said he believes the company's 9,700 pending patents would be worth between $118-$167 per share. The value of the engineers could be worth another $18 per share. He has a Buy rating and $118 price target on the stock.
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Shares of InterDigital are down 22 percent Monday on speculation that Google will likely pull out of the bidding for InterDigital now that it has acquired Motorola Mobility and its treasure trove of patents. With Google out of this bidding this could impact any potential sale price.
It had been reported that Apple (Nasdaq: AAPL), Google, Samsung and others have been exploring buying the company due to its strong patent portfolio. Some have even said a major bidding war was developing, with Google and Apple in the lead.
On July 19th, InterDigital announced it would explore a sale. The stock is still up 42 percent since the announcement, despite the recent sell-off.
In the past, Shuttleworth said he believes the company's 9,700 pending patents would be worth between $118-$167 per share. The value of the engineers could be worth another $18 per share. He has a Buy rating and $118 price target on the stock.
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