InterDigital, Inc. (NASDAQ:IDCC) – Analysts at B. Riley lowered their Q4 2018 EPS estimates for shares of InterDigital in a research report issued to clients and investors on Friday, November 2nd. B. Riley analyst E. Wold now forecasts that the Wireless communications provider will post earnings of $0.23 per share for the quarter, down from their prior estimate of $0.29. B. Riley also issued estimates for InterDigital’s Q4 2019 earnings at $0.52 EPS, Q1 2020 earnings at $0.44 EPS, Q2 2020 earnings at $0.50 EPS, Q3 2020 earnings at $0.79 EPS and FY2020 earnings at $2.50 EPS.
Other equities research analysts also recently issued research reports about the company. National Securities initiated coverage on InterDigital in a research report on Monday, July 23rd. They set a “buy” rating and a $103.00 target price for the company. ValuEngine upgraded InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. TheStreet downgraded InterDigital from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. BidaskClub downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, Zacks Investment Research downgraded InterDigital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 3rd. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $94.40.
InterDigital stock opened at $77.23 on Monday. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 2.98 and a beta of 1.06. InterDigital has a 52 week low of $68.22 and a 52 week high of $85.85.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, November 1st. The Wireless communications provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.36. The company had revenue of $75.08 million for the quarter, compared to analyst estimates of $72.59 million. InterDigital had a return on equity of 17.50% and a net margin of 26.19%. The business’s revenue was down 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share.
Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in InterDigital by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,041,319 shares of the Wireless communications provider’s stock valued at $84,243,000 after purchasing an additional 20,284 shares during the last quarter. Northern Trust Corp increased its holdings in InterDigital by 2.5% in the second quarter. Northern Trust Corp now owns 649,460 shares of the Wireless communications provider’s stock valued at $52,541,000 after purchasing an additional 15,994 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in InterDigital by 14.5% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 296,500 shares of the Wireless communications provider’s stock valued at $23,720,000 after purchasing an additional 37,590 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in InterDigital in the second quarter valued at about $23,853,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in InterDigital by 11.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 265,711 shares of the Wireless communications provider’s stock valued at $21,497,000 after purchasing an additional 26,580 shares during the last quarter. Institutional investors own 74.13% of the company’s stock.
In other news, EVP James J. Nolan sold 5,093 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $79.82, for a total transaction of $406,523.26. Following the completion of the sale, the executive vice president now owns 39,560 shares in the company, valued at $3,157,679.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Wednesday, October 10th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, October 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.81%. InterDigital’s payout ratio is currently 23.10%.
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.
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