InterDigital Wireless Inc (NASDAQ:IDCC) declared a quarterly dividend on Monday, June 17th, Wall Street Journal reports. Stockholders of record on Wednesday, July 10th will be given a dividend of 0.35 per share by the Wireless communications provider on Wednesday, July 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, July 9th.
InterDigital Wireless has increased its dividend payment by an average of 20.5% annually over the last three years and has increased its dividend every year for the last 5 years. InterDigital Wireless has a dividend payout ratio of 80.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect InterDigital Wireless to earn $2.15 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 65.1%.
IDCC stock opened at $66.71 on Friday. InterDigital Wireless has a 52 week low of $62.34 and a 52 week high of $85.40. The company has a market cap of $2.12 billion, a P/E ratio of 77.57, a price-to-earnings-growth ratio of 7.29 and a beta of 1.00. The stock’s 50-day moving average is $64.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.95 and a quick ratio of 1.95.
InterDigital Wireless (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The business had revenue of $68.63 million during the quarter, compared to analyst estimates of $70.19 million. InterDigital Wireless had a return on equity of 3.27% and a net margin of 10.79%. The business’s revenue for the quarter was down 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. As a group, sell-side analysts anticipate that InterDigital Wireless will post 0.61 EPS for the current year.
In other news, Director Jean F. Rankin sold 680 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $64.84, for a total value of $44,091.20. Following the completion of the sale, the director now directly owns 20,918 shares in the company, valued at $1,356,323.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William J. Merritt sold 15,000 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $65.02, for a total transaction of $975,300.00. Following the completion of the sale, the insider now owns 176,065 shares of the company’s stock, valued at $11,447,746.30. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
Several research analysts have recently weighed in on IDCC shares. Zacks Investment Research downgraded shares of Haynes International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. BidaskClub downgraded shares of Xilinx from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. InterDigital Wireless has a consensus rating of “Buy” and an average target price of $91.00.
InterDigital Wireless Company Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides 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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