InterDigital, Inc. (NASDAQ:IDCC) - Dougherty & Co boosted their FY2018 earnings per share (EPS) estimates for InterDigital in a research note issued on Thursday. Dougherty & Co analyst C. Anderson now anticipates that the Wireless communications provider will earn $2.78 per share for the year, up from their prior forecast of $2.29.
IDCC has been the subject of a number of other reports. B. Riley reaffirmed a “buy” rating and set a $100.00 price target on shares of InterDigital in a report on Thursday, June 8th. ValuEngine raised shares of InterDigital from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 25th. Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Friday. Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, BidaskClub lowered shares of InterDigital from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $87.75.
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InterDigital (NASDAQ IDCC) traded up 1.76% during mid-day trading on Monday, reaching $69.45. 194,341 shares of the company’s stock were exchanged. InterDigital has a 1-year low of $67.55 and a 1-year high of $102.30. The stock has a market capitalization of $2.41 billion, a PE ratio of 7.57 and a beta of 1.00. The firm’s 50-day moving average is $74.48 and its 200 day moving average is $83.03.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.05. The company had revenue of $135.78 million during the quarter, compared to the consensus estimate of $133.69 million. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. InterDigital’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of IDCC. U S Global Investors Inc. bought a new position in InterDigital during the second quarter worth approximately $1,161,000. Dynamic Technology Lab Private Ltd increased its position in InterDigital by 2.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 6,405 shares of the Wireless communications provider’s stock worth $495,000 after buying an additional 153 shares during the period. Mountain Capital Investment Advisors Inc bought a new position in InterDigital during the second quarter worth approximately $118,000. Colony Group LLC bought a new position in InterDigital during the second quarter worth approximately $2,147,000. Finally, Koch Industries Inc. increased its position in InterDigital by 5,919.7% in the second quarter. Koch Industries Inc. now owns 473,089 shares of the Wireless communications provider’s stock worth $467,000 after buying an additional 465,230 shares during the period. Hedge funds and other institutional investors own 68.49% of the company’s stock.
In other InterDigital news, Director Jeffrey K. Belk sold 800 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $84.39, for a total transaction of $67,512.00. Following the transaction, the director now directly owns 17,801 shares in the company, valued at approximately $1,502,226.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $79.15, for a total transaction of $39,575.00. Following the transaction, the executive vice president now owns 79,768 shares in the company, valued at $6,313,637.20. The disclosure for this sale can be found here. Insiders have sold a total of 3,594 shares of company stock worth $270,649 over the last quarter. 1.90% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Wednesday, July 12th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, July 10th. This represents a $1.20 dividend on an annualized basis and a yield of 1.76%. InterDigital’s dividend payout ratio (DPR) is 13.00%.
InterDigital Company Profile
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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