InterDigital (IDCC) to Release Quarterly Earnings on Thursday

InterDigital (NASDAQ:IDCC) will release its earnings data before the market opens on Thursday, May 2nd. Analysts expect InterDigital to post earnings of $3.16 per share for the quarter. InterDigital has set its Q1 guidance at $2.40-2.95 EPS and its FY24 guidance at $4.95-6.15 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The company had revenue of $105.52 million for the quarter, compared to the consensus estimate of $104.31 million. On average, analysts expect InterDigital to post $7 EPS for the current fiscal year and $5 EPS for the next fiscal year.

InterDigital Trading Down 0.3 %

IDCC stock traded down $0.32 during midday trading on Tuesday, reaching $100.62. The company’s stock had a trading volume of 16,073 shares, compared to its average volume of 484,576. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.82 and a beta of 1.34. InterDigital has a 1 year low of $66.82 and a 1 year high of $119.86. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a fifty day simple moving average of $102.42 and a two-hundred day simple moving average of $100.29.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.59%. The ex-dividend date was Tuesday, April 9th. InterDigital’s dividend payout ratio is presently 21.33%.

Insider Activity at InterDigital

In related news, insider Eeva K. Hakoranta sold 699 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the sale, the insider now directly owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the sale, the chief technology officer now directly owns 64,939 shares in the company, valued at approximately $6,190,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the transaction, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on IDCC shares. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Monday. Bank of America reiterated an “underperform” rating and issued a $100.00 price target (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.