Equities analysts expect that InterDigital, Inc. (NASDAQ:IDCC) will report earnings per share (EPS) of $0.22 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for InterDigital’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.27. InterDigital reported earnings per share of $1.00 during the same quarter last year, which would suggest a negative year-over-year growth rate of 78%. The company is scheduled to report its next quarterly earnings report on Thursday, October 25th.
According to Zacks, analysts expect that InterDigital will report full year earnings of $1.61 per share for the current fiscal year, with EPS estimates ranging from $1.43 to $1.78. For the next year, analysts expect that the business will post earnings of $1.44 per share, with EPS estimates ranging from $0.83 to $2.05. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for InterDigital.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, August 2nd. The Wireless communications provider reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. InterDigital had a net margin of 27.99% and a return on equity of 19.85%. The business had revenue of $69.56 million for the quarter, compared to the consensus estimate of $64.39 million. During the same period in the prior year, the business posted $1.46 earnings per share. InterDigital’s revenue for the quarter was down 48.8% compared to the same quarter last year.
A number of research firms have recently weighed in on IDCC. BidaskClub downgraded shares of InterDigital from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. ValuEngine raised shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Zacks Investment Research downgraded shares of InterDigital from a “hold” rating to a “strong sell” rating in a research report on Monday, August 6th. National Securities assumed coverage on shares of InterDigital in a research report on Monday, July 23rd. They set a “buy” rating and a $103.00 target price on the stock. Finally, Roth Capital assumed coverage on shares of InterDigital in a research report on Tuesday, June 12th. They set a “buy” rating and a $104.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. InterDigital currently has an average rating of “Buy” and an average target price of $94.40.
In other InterDigital news, EVP James J. Nolan sold 5,595 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of $82.50, for a total transaction of $461,587.50. Following the transaction, the executive vice president now directly owns 47,863 shares of the company’s stock, valued at $3,948,697.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey K. Belk sold 555 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $85.10, for a total transaction of $47,230.50. Following the transaction, the director now directly owns 20,757 shares in the company, valued at $1,766,420.70. The disclosure for this sale can be found here. Insiders have sold 6,260 shares of company stock worth $517,893 over the last three months. Company insiders own 2.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of IDCC. Cardinal Capital Management LLC CT increased its position in InterDigital by 104.6% during the first quarter. Cardinal Capital Management LLC CT now owns 690,168 shares of the Wireless communications provider’s stock worth $50,796,000 after buying an additional 352,816 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in InterDigital during the second quarter worth $23,853,000. Lord Abbett & CO. LLC acquired a new position in InterDigital during the first quarter worth $6,567,000. Goodman Financial Corp bought a new stake in InterDigital during the first quarter valued at about $6,182,000. Finally, Russell Investments Group Ltd. boosted its holdings in InterDigital by 136.5% during the first quarter. Russell Investments Group Ltd. now owns 142,088 shares of the Wireless communications provider’s stock valued at $10,454,000 after acquiring an additional 82,001 shares during the period. 73.95% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ IDCC opened at $81.40 on Tuesday. InterDigital has a 1-year low of $67.55 and a 1-year high of $85.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 9.36 and a current ratio of 9.36. The firm has a market capitalization of $2.83 billion, a PE ratio of 13.43, a P/E/G ratio of 4.05 and a beta of 1.07.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 25th. Shareholders of record on Wednesday, July 11th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, July 10th. InterDigital’s payout ratio is 23.10%.
InterDigital Company Profile
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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