UPDATE: Barclays Downgrades InterDigital Inc. (IDCC) to Equalweight; Issues Are Adding Up

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(Updated - July 3, 2012 12:10 PM EDT)

Barclays downgraded InterDigital Inc. (NASDAQ: IDCC) from Overweight to Equalweight with a price target cut from $38 to $32.

Analyst, Jeff Kvaal attributes the downgrade to choppiness in payers like Research In Motion (Nasdaq: RIMM) and HTC along with consolidation from fixed payers like Samsung and Apple (Nasdaq: AAPL). He also notes the uncertainty regarding the upcoming ITC court ruling. FY12 EPS estimate lowered from $1.00 to $0.98 and FY13 from $1.00 to $0.88.

For an analyst ratings summary and ratings history on InterDigital Inc. click here. For more ratings news on InterDigital Inc. click here.

Shares of InterDigital Inc. closed at $29.54 yesterday, with a 52 week range of $22.37-$82.50.

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