Analysts forecast that InterDigital, Inc. (NASDAQ:IDCC) will post $1.34 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for InterDigital’s earnings, with estimates ranging from $1.33 to $1.34. InterDigital posted earnings per share of $0.48 during the same quarter last year, which suggests a positive year-over-year growth rate of 179.2%. The business is expected to report its next earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that InterDigital will report full year earnings of $3.50 per share for the current financial year, with EPS estimates ranging from $3.48 to $3.51. For the next year, analysts anticipate that the business will post earnings of $2.71 per share, with EPS estimates ranging from $2.29 to $3.13. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover InterDigital.
InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, April 27th. The Wireless communications provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.22. InterDigital had a net margin of 48.22% and a return on equity of 43.97%. The business had revenue of $94.53 million for the quarter, compared to analyst estimates of $92.90 million. During the same period last year, the business posted $0.79 EPS. InterDigital’s revenue was down 12.3% compared to the same quarter last year.
Several analysts have issued reports on IDCC shares. B. Riley raised shares of InterDigital from a “neutral” rating to a “buy” rating and upped their price target for the stock from $86.00 to $100.00 in a research report on Monday, April 24th. Zacks Investment Research upgraded shares of InterDigital from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Benchmark Co. started coverage on shares of InterDigital in a report on Tuesday, April 25th. They issued a “hold” rating on the stock. BidaskClub downgraded shares of InterDigital from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of InterDigital from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. InterDigital has an average rating of “Hold” and a consensus price target of $92.50.
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In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $79.15, for a total transaction of $39,575.00. Following the sale, the executive vice president now directly owns 79,768 shares in the company, valued at $6,313,637.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James J. Nolan sold 8,596 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $83.83, for a total transaction of $720,602.68. Following the sale, the executive vice president now owns 57,149 shares in the company, valued at $4,790,800.67. The disclosure for this sale can be found here. Insiders sold 17,896 shares of company stock worth $1,514,730 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in IDCC. Russell Investments Group Ltd. purchased a new stake in shares of InterDigital during the fourth quarter worth about $913,000. Capstone Asset Management Co. increased its stake in shares of InterDigital by 3.0% in the first quarter. Capstone Asset Management Co. now owns 6,119 shares of the Wireless communications provider’s stock worth $528,000 after buying an additional 180 shares during the last quarter. Algert Global LLC purchased a new stake in shares of InterDigital during the first quarter worth about $895,000. Envestnet Asset Management Inc. increased its stake in shares of InterDigital by 12.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,728 shares of the Wireless communications provider’s stock worth $341,000 after buying an additional 425 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of InterDigital by 17.7% in the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock worth $56,834,000 after buying an additional 99,018 shares during the last quarter. Hedge funds and other institutional investors own 69.15% of the company’s stock.
InterDigital (IDCC) traded up 5.11% on Wednesday, reaching $81.30. 554,164 shares of the company were exchanged. The stock has a 50 day moving average of $79.87 and a 200 day moving average of $85.97. InterDigital has a 12-month low of $56.15 and a 12-month high of $102.30. The firm has a market capitalization of $2.82 billion, a PE ratio of 9.15 and a beta of 1.01.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, July 10th. This represents a $1.20 annualized dividend and a dividend yield of 1.48%. InterDigital’s dividend payout ratio (DPR) is presently 13.47%.
About InterDigital
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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