InterDigital, Inc. Expected to Post Q3 2024 Earnings of $0.92 Per Share (NASDAQ:IDCC)

InterDigital, Inc. (NASDAQ:IDCC) – Equities researchers at Zacks Research lifted their Q3 2024 EPS estimates for InterDigital in a research report issued on Monday, June 24th. Zacks Research analyst R. Department now forecasts that the Wireless communications provider will post earnings of $0.92 per share for the quarter, up from their prior forecast of $0.91. The consensus estimate for InterDigital’s current full-year earnings is $6.65 per share. Zacks Research also issued estimates for InterDigital’s FY2024 earnings at $6.79 EPS, Q4 2025 earnings at $1.25 EPS, FY2025 earnings at $4.04 EPS and FY2026 earnings at $4.82 EPS.

A number of other equities research analysts have also recently commented on IDCC. Jefferies Financial Group reaffirmed a “hold” rating and issued a $100.00 target price (down from $106.00) on shares of InterDigital in a report on Monday, May 13th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $100.00 target price (down from $140.00) on shares of InterDigital in a report on Monday, April 1st.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $116.04 on Wednesday. The company has a 50-day simple moving average of $109.89 and a 200-day simple moving average of $106.70. InterDigital has a one year low of $74.65 and a one year high of $119.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.00 and a beta of 1.40.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $0.06. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The firm had revenue of $263.54 million during the quarter, compared to analysts’ expectations of $250.15 million.

InterDigital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.60 annualized dividend and a yield of 1.38%. InterDigital’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling

In related news, Director John D. Jr. Markley sold 750 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total transaction of $86,460.00. Following the completion of the transaction, the director now directly owns 12,202 shares of the company’s stock, valued at $1,406,646.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other InterDigital news, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total transaction of $86,460.00. Following the transaction, the director now directly owns 12,202 shares in the company, valued at $1,406,646.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eeva K. Hakoranta sold 699 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the transaction, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The disclosure for this sale can be found here. Insiders sold 2,749 shares of company stock valued at $282,883 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of InterDigital

Large investors have recently modified their holdings of the business. Riverview Trust Co acquired a new stake in shares of InterDigital in the first quarter valued at approximately $31,000. Palisade Asset Management LLC acquired a new stake in shares of InterDigital in the first quarter valued at approximately $64,000. Quadrant Capital Group LLC grew its position in shares of InterDigital by 11.6% in the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock valued at $107,000 after purchasing an additional 103 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after purchasing an additional 114 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in InterDigital by 12.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after acquiring an additional 143 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

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.