InterDigital (NASDAQ:IDCC) Issues Q4 2024 Earnings Guidance

InterDigital (NASDAQ:IDCC) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 5.420-5.700 for the period, compared to the consensus earnings per share estimate of 0.870. The company issued revenue guidance of $239.0 million-$249.0 million, compared to the consensus revenue estimate of $138.7 million. InterDigital also updated its FY 2024 guidance to 14.690-14.990 EPS.

InterDigital Price Performance

NASDAQ:IDCC traded up $15.26 during trading hours on Friday, hitting $165.70. 868,138 shares of the stock traded hands, compared to its average volume of 426,509. The stock has a 50 day moving average price of $142.84 and a 200 day moving average price of $126.27. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 0.95 and a beta of 1.38. InterDigital has a 1 year low of $76.82 and a 1 year high of $166.46.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $0.43 by $3.77. The company had revenue of $223.49 million during the quarter, compared to the consensus estimate of $95.63 million. InterDigital had a net margin of 36.69% and a return on equity of 40.49%. Sell-side analysts forecast that InterDigital will post 9.06 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.09%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio (DPR) is currently 19.23%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Roth Mkm raised their price objective on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th.

Insider Buying and Selling

In other news, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the sale, the director now directly owns 7,639 shares in the company, valued at $1,026,681.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now directly owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,205 shares of company stock worth $716,218. Insiders own 2.30% of the company’s stock.

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.