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October 28, 2022 00:00
Redacted Document
Document: 270
REDACTED VERSION of 232 Statement,, Exhibits 23, 24, 28, 29, 38 to Declaration of Ryan Smith by IPR Licensing, Inc., InterDigital Communications, Inc., InterDigital Holdings, Inc., InterDigital Technology Corporation, InterDigital, Inc.. (Attachments: # 1 Exhibit 23 - 2022-06-27 Corrected Simcoe Op. Rpt, # 2 Exhibit 24 - 2022-07-18 Rebut. Expert Rpt. Timothy Simcoe excerpt updated, # 3 Exhibit 28 - 2022-06-23 Corrected Expert Rpt- Paul Meyer updated, # 4 Exhibit 29 - Meyer, Paul K. 081722 Full Size excerpts updated, # 5 Exhibit 38 - 2022-09-09 [DI 211-9] [UPDATED EXCERPT])(Belgam, Neal)
October 28, 2022 00:00
Redacted Document
Document: 269
REDACTED VERSION of 226 Opening Brief in Support, of Plaintiffs Motion For Partial Summary Judgment And To Exclude Certain Expert Testimony by IPR Licensing, Inc., InterDigital Communications, Inc., InterDigital Holdings, Inc., InterDigital Technology Corporation, InterDigital, Inc.. (Belgam, Neal)
For grins went back and took a peek at some div Payments…. Def allocating less per quarter
??Shrinking dividend payments
2018 q4 earning report from income statement vs 2017
Dividends paid (11,996 ) (12,148 )
And latest on Aug
Dividends paid (10,803 ) (10,739 )
Excellent point, I never considered the relationship between stock buybacks and no corresponding increase in dividends.
Order on Motion to Seal Order on Motion to Seal Document
Document: 268
ORDER granting in part and denying in part 222 Motion to Seal and 238 Motion to Seal Document. It is FURTHER ORDERED that the parties revise their pending Joint Motion To Seal Parties' Oppositions To Motions For Summary Judgment And To Exclude Certain Expert Testimony (D.I. 242 ) and their Joint Motion To Seal Parties' Replies In Support Of Motions For Summary Judgment And To Exclude Certain Expert Testimony (D.I. 262 ) in accordance with the guidance provided by this Order on or before October 31, 2022. (SEE ORDER FOR FURTHER DETAILS) Signed by Judge Joshua D. Wolson on 10/24/2022. (srs)
Eeva Hakoranta and Alfred Chaouat named "Corporate IP Stars" by Managing IP.
Is this foreshadowing of events to come?
3 Wireless Stocks Set to Ride on Fiber Densification, 5G Rollout
Supriyo Bose ZACKS
Wed, October 26, 2022 at 8:05 AM
The Zacks Wireless Equipment industry appears well poised to gain from healthy demand trends amid fading supply chain adversities with the gradual revival in post-pandemic market conditions and a faster pace of 5G deployment. However, large-scale investments to support the transition to 5G and inflated raw material costs amid a challenging macroeconomic environment are likely to erode margins.
Nevertheless, Juniper Networks, Inc. JNPR, Viasat, Inc. VSAT and InterDigital, Inc. IDCC are likely to benefit in the long run from the increasing demand for state-of-the-art wireless products with a vast proliferation of IoT and a gradual shift to cloud services.
InterDigital: Headquartered in Wilmington, DE, InterDigital is a pioneer in advanced mobile technologies that enables wireless communications and capabilities. The company engages in designing and developing a wide range of advanced technology solutions, which are used in digital cellular as well as wireless 3G, 4G and IEEE 802-related products and networks. It has a long-term earnings growth expectation of 25% and delivered an earnings surprise of 81.9%, on average, in the trailing four quarters. Earnings estimates for the current year for this Zacks Rank #1 stock have moved up 7% since April 2021. InterDigital’s global footprint, diversified product portfolio and ability to penetrate in different markets are impressive. The addition of technologies related to sensors, user interface and video to its offerings are likely to drive considerable value, given the massive size of the market it licenses.
I saw an article today on the new Biden plan and it has a capital gains tax on corporate buybacks
I suspect we won’t see much buyback next year
Speaking of divs
Just noticed I got it today
I’m disappointed In myself for not realizing earlier that aggressive buybacks
Should just naturally bump up the in place dividend.
Not sure why no one questioned before
On the earnings calls
It just means they are allocating less money towards dividends with each buyback, which is a no no to investors( reducing divs)
They most likely have some type of trading plan in place giving them very little discretion.
Monterey2000 - I do not know who at InterDigital has the authority to pull the trigger for buying back shares but during the past 60 days they should have loaded the wagon at an average price of $45. JMHO
Like your calc..and with increasing net profit over past years and upcoming resolution of Lenovo and resign of Samsung, a $1.80 annual dividend is doable especially if IDCC stops the stock buyback.
CHECK THE INSIDER'S ANNUAL COMPENSATION BONUS PLAN.
Back of napkin calculations
Idcc annual dividend 1.40 for the past 4-5 years?
They had close to 35 million shares outstanding in
2017 so ~$50 mil in annual div
They have less than 30 million shares outstanding today
If they use 50 mil for div it should be
1.67 or at least a quarter higher?
Where is my extra quarter ?!
Zdog it seems to me that having to spend millions to defend and enforce your patents against a willful long term infringer should require a rate higher than a willing licensee pays.
We can hope.
Yes very much so. They may be trying for us but there doesn’t seem to be much rush about it
I am not sure how they get that much per phone, are you basing this on anything more than wishful thinking? I don’t believe they are getting anywhere near that from anyone right now.
Management’s has always talked about shareholder value, but in my time owning this stock it has actually been about management enrichment. IMO
A $1/phone license with Lenovo, VIVO and Oppo and the other unlicensed infringers would greatly add to the revenue and the share price.
A $1.00 increase per quarter would be great! BofA/ML needs to be shareholders!!
It’s time we get paid like the employees get mega money
Sounds great, but I would be happy with a raise to $.50/qtr.
It’s time to make it 1.00 a quarter because the stock price isn’t going to go up very much but they’ll continue to make enough money to reward us shareholders
Either or both would be both surprising and appreciated.
I would like BOTH -- After all, the dividend has remained the same for many many years.
Time to show us what the company really is (other than cheap) 1
I don’t want special dividends, I do want them to raise the quarterly dividend.
Many years ago, the BOD declared a special dividend at year-end when there were some tax considerations for individual shareholders.
During the pandemic when the country was shut down, I suggested that the BOD declare a special dividend dto help out for the missing income as a result of the pandemic and shut-down of the economy. i suggested that IDCC take the first step and perhaps other companies would follow. OBVIOUSLY, THIS NEVER OCCURRED.
Now, with inflation running rampant, the country is in disarray due to economic conditions, high gasoline prices, high food prices, high housing costs, high boarder crossings of illegals, mass shootings, and a President who is spending money like it is going out of style while the FED is raising interest rates, and a recession already here even though the President doesn't want to follow the formulas in place for many years.
Maybe now its time our companies show THEIR BELIEF in the strength of our economy be declaring special dividends to offset the high costs we have experienced in 2022 by declaring special dividends.
IDCC should jump on the opportunity to show leadership that is lacking in Washington by starting NOW to help Americans with special dividends before year-end and then follow up with increasing dividends for 2023.
JMO
Monterey, the BOD doesn't care about raising dividends for shareholders. As long as their long term comp and awards plan is in place and they are able to increase it pretty much at will, they are content to let the dividends ride on.
What they are missing is that if the dividend is raised, their dividends in their personal holdings go up also.
And IMO when Lenovo takes that license along with its paid up back payments with interest and Samsung enters into a new license, IDCC should increase the quarterly dividend to 45 cents (10 cent increase per quarter). The stock buybacks have done nothing to increase the stock price. The dividend increase will make this stock very competitive with the current increasing CD interest rates not to mention the subsequent increase in stock price. It's great to dream.
One day before the end of the year, I expect IDCC will announce a major patent win and Lenovo license agreement. At least I am hoping for such an announcement.
InterDigital Announces Collaboration with Philips on Video-Based Immersive Codec Research to Enable XR Opportunities
Company Release - 10/20/2022
Partners showcase latest V3C immersive codec contributions at AWE XR Expo
WILMINGTON, Del., Oct. 20, 2022 (GLOBE NEWSWIRE) -- Today, InterDigital, Inc. (NASDAQ: IDCC) announced a collaboration with Royal Philips (NYSE: PHG, AEX: PHIA) to jointly develop MPEG Visual Volumetric Video-based Coding (V3C) immersive codecs to the benefit of telepresence and XR-driven experiences. As part of the collaboration, InterDigital and Philips will demonstrate the impact and benefit of these technologies in critical industry use cases. During the AWE XR Expo on October 20-21, the partners will display video-based MPEG V3C codecs and associated system layers for 6DoF, VR and AR content streaming, for XR use cases like telelearning.
The MPEG V3C standard defines the general mechanism for coding and streaming volumetric content. The first two main codecs associated with MPEG V3C standard are Video-based Point Cloud Compression (V-PCC) for point clouds data transmission and MPEG Immersive Video (MIV) for multi-views with depth content. Volumetric video is a critical component to create and enjoy increasingly immersive experiences made popular through XR applications. Unlike traditional video, volumetric video is comprised of a sequence of frames, where each frame is a 3D representation of a real-world object or scene capture from a moment in time. Volumetric content requires significant bandwidth, and compression is crucial to achieve data rates that are sustainable and economically viable for the industry. Standards like MPEG V3C play a critical role in reaching this reality and ensuring interoperability for new and emerging experiences.
The collaboration will leverage each partner’s research expertise - InterDigital will contribute expertise on immersive codecs, including V3C Systems and V-PCC and MIV extensions. In addition to its contribution to MIV and V3C systems standards, Philips will contribute critical six degrees of freedom (6DoF) immersive codec technologies in the areas of image reconstruction and rendering. Together, the partners will integrate their technologies to enhance the benefit to emerging immersive experiences.
“We take pride in our unique research expertise at InterDigital, and our industry impact is only amplified through the application of collaborative research with esteemed partners like Philips,” said Rajesh Pankaj, EVP and Chief Technology Officer, InterDigital. “Our technology contributions ensure greater efficiency and sharper outcomes when processing volumetric content and make the desire for increasingly immersive experiences a reality.”
“Implementing real-time volumetric video will enable a much more realistic immersive experience, fostering remote collaboration, training and support in various sectors,” said Jako Eleveld, Head of IP Licensing, Philips. “By adopting an open innovation approach, we can use our technology and intellectual property to bring innovations to the market through Philips propositions, and those of partners. Our collaboration with InterDigital will help to demonstrate the benefits of the MPEG V3C standard and its V-PCC and MIV extensions to accelerate its adoption across industries.”
InterDigital and Philips will showcase the latest results of their immersive codec collaboration within InterDigital’s booth at the AWE XR expo in Portugal from October 20 – 21. Specifically, the partners will showcase an immersive telelearning application that leverages new V3C standards, including V-PCC and MIV codecs.
In addition, InterDigital’s Video Solutions Director Valerie Allie will explain at AWE XR how this collaborative project contributes to V3C codecs that enable more efficient volumetric video-based media streaming. Her presentation “Video-Based Immersive Codecs for Telelearning and XR Experiences” will be delivered on October 20 at 16:35 CET at Sala1 – XR Enablement track.
To learn more about the technology showcase at the AWE XR Expo, please click here.
Bim524 - I keep looking for positive information concerning InterDigital and remain hopeful.
Gamco
You Should be used to seeing that after 20 years of reading court docs.
Until i see joint motion to dismiss I won’t
Get excited at all. …. Just numb now
Paullee - thank you and I am encouraged to see 'Joint Motions'.
Latest Court developments
October 17, 2022 00:00
Memorandum in Support
Document: 267
MEMORANDUM in Support re 262 Joint MOTION to Seal Document: Parties' Replies in Support of Motions for Summary Judgment and to Exclude Certain Expert Testimony - filed by Lenovo (United States) Inc., Lenovo Holding Company Inc., Motorola Mobility LLC.Answering Brief/Response due date per Local Rules is 10/31/2022. (Smith, Rodger)
October 17, 2022 00:00
Declaration
Document: 266
[SEALED] DECLARATION re 265 Reply Brief, of Ketan Patel - by Lenovo (United States) Inc., Lenovo Holding Company Inc., Motorola Mobility LLC. (Attachments: # 1 Exhibit A - Kennedy David 090622 Depo. Tr. Excerpt, # 2 Exhibit B - Groehn Andreas 082522 Depo. Tr. Excerpt, # 3 Exhibit C - Ditty, Bradley Depo. Ex. 8_IDC webpage, # 4 Exhibit D - Stark, Wayne 081822 Depo. Tr Excerpt, # 5 Exhibit E - 2022-06-16 Expert Report of Cory Plock Excerpt, # 6 Exhibit F - 2022-08-08 Reply Expert Report of Dr. Branimir Vojcic Excerpt, # 7 Exhibit G - 2022-08-08 Reply Expert Report of Wayne Stark Excerpt)(Smith, Rodger)
October 17, 2022 00:00
Brief - Reply
Document: 265
[SEALED] REPLY BRIEF re 212 MOTION for Summary Judgment MOTION to Preclude InterDigital's Expert Opinions - filed by Lenovo (United States) Inc., Lenovo Holding Company Inc., Motorola Mobility LLC. (Smith, Rodger)
October 17, 2022 00:00
Declaration
Document: 264
DECLARATION re 263 Opening Brief in Support, of Julia Mattis in Support of the Joint Motion to Seal by IPR Licensing, Inc., InterDigital Communications, Inc., InterDigital Holdings, Inc., InterDigital Technology Corporation, InterDigital, Inc.. (Belgam, Neal)
October 17, 2022 00:00
Brief - Opening Brief in Support
Document: 263
OPENING BRIEF in Support re 262 Joint MOTION to Seal Document: Parties' Replies in Support of Motions for Summary Judgment and to Exclude Certain Expert Testimony filed by IPR Licensing, Inc., InterDigital Communications, Inc., InterDigital Holdings, Inc., InterDigital Technology Corporation, InterDigital, Inc..Answering Brief/Response due date per Local Rules is 10/31/2022. (Belgam, Neal)
October 17, 2022 00:00
Seal Document
Document: 262
Joint MOTION to Seal Document: Parties' Replies in Support of Motions for Summary Judgment and to Exclude Certain Expert Testimony - filed by IPR Licensing, Inc., InterDigital Communications, Inc., InterDigital Holdings, Inc., InterDigital Technology Corporation, InterDigital, Inc.. (Attachments: # 1 Text of Proposed Order)(Belgam, Neal)
October 17, 2022 00:00
Declaration
Document: 261
DECLARATION re 260 Reply Brief, of Ryan Smith in Support of Plaintiffs' Reply Brief in Support of its Motion for Partial Summary Judgment and to Exclude Certain Expert Testimony by IPR Licensing, Inc., InterDigital Communications, Inc., InterDigital Holdings, Inc., InterDigital Technology Corporation, InterDigital, Inc.. (Attachments: # 1 Exhibit 1 - August 16, 2022, Transcript of Matthew C. Valenti, Ph.D., # 2 Exhibit 2 - September 7, 2022, Transcript of Jonathan D. Putnam, Ph.D., # 3 Exhibit 3 - August 26, 2020, Judgment RE: Unwired Planet v. Huawei 2020 UKSC 37-EXCERPT, # 4 Exhibit 4 - September 14, 2016, Final Jury Instructions RE: Cellular Commc'ns v. Apple, 14-cv-00251 294 -EXCERPT, # 5 Exhibit 5 - October 7, 2016, Final Jury Instructions RE: Chrimar v. Alcatel-Lucent 350 -EXCERPT, # 6 Exhibit 6 - April 3, 2019, Final Jury Instructions RE: Evolved v. Apple, 15-cv-00542 516 -EXCERPT, # 7 Exhibit 7 - November 7, 2018, Jury Instructions RE: Godo Kaisha IP Bridge, 1 v. TCL 15-cv-634 481 -EXCERPT, # 8 Exhibit 8 - August 25, 2018, Final Jury Instructions RE: Optis v. Huawei 17-cv-00123 284 -EXCERPT)(Belgam, Neal)
Paullee - I appreciate your recent post regarding the Lenovo legal situation. EOM
October 07, 2022 00:00
Declaration
Document: 259
DECLARATION re 258 Letter, of David Levin - by Lenovo (United States) Inc., Lenovo Holding Company Inc., Motorola Mobility LLC. (Attachments: # 1 Exhibit A - Dr. Levin CV)(Smith, Rodger)
October 07, 2022 00:00
Letter
Document: 258
Letter to The Honorable Joshua D. Wolson from Rodger D. Smith II - re 235 MOTION to Strike Portions of Interdigitals Expert Reports Based on Interdigitals Failure to Identify Source Code in Final Infringement Contentions. (Smith, Rodger)
From Asia Times: US, China already gunning for 6G military supremacy by Gabriel Honrada.
https://asiatimes.us14.list-manage.com/track/click?u=2049a8663daea00bd30c32cf2&id=b4eed17adf&e=f8d8372cc1
LTE thanks for the link to the patent constructions in your evolved note post.
InterDigital Announces Date for Third Quarter 2022 Financial Results
Source: GlobeNewswire Inc.?
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced that the company will release its third quarter 2022 financial results before market open on Thursday, November 3, 2022.
InterDigital executives will host a conference call that same day at 10:00 a.m. Eastern Time (ET) to discuss the company's performance.
For a live Internet webcast of the conference call, visit www.interdigital.com and click on the “Webcast” link on the Investors page. The company encourages participants to take advantage of the Internet option.
For telephone access to the conference call, visit www.interdigital.com and click on the “Dial In Registration” link on the Investors page. Registration is necessary to obtain a dial in phone number and PIN to join.
An Internet replay of the conference call will be available on InterDigital’s website under Events in the Investor’s section. The replay will be available for one year.
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on Nasdaq.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital Contact:
investor.relations@interdigital.com
+1 (302) 300-1857
InterDigital Announces Date for Third Quarter 2022 Financial Results
InterDigital Announces Date for Third Quarter 2022 Financial Results
J. "evolved Node B (eNB)" / "eNodeB" / "eNB" 12
Interdigital
a base station in a 4G/L TE network as opposed to the "Node Bs" of 3G/UMTS networks or the "BTS" of 2G/GSM networks
Court
a base station in a 4G/L TE network as opposed to the "Node Bs" of 3G/UMTS networks or the "BTS" of2G/GSM networks
This claim construction order (from the Delaware Court) came out
in May of 2021.
Check page 17 of 24 - at least InterDigital won this claim construction
term outright.
https://www.ded.uscourts.gov/sites/ded/files/opinions/19-1590.pdf
Did anyone else take a look at the above? It looks like
IDCC lost on a fair amount of clams but they won some
too.
But at least it only takes one valid and infringed claim to win!
It is great to see Apple renew without drama. My fear was Apple would linger unsigned. It seems the Apple agreement would put some pressure on the holdouts to sign.
Very happy to see consumer electronics, the automotive group and iot beginning to generate decent revenue.
If the stars align Interdigital could have significant revenue increases coming.
This management is fortunate that Merritt built them a very nice trough on which to feed. Don’t get me wrong, if the current management keeps signing licenses I believe they should be well compensated.
I believe under the plan set up a number of years ago, the share price has to be somewhere over $80 to be dollar for dollar. If it is under that amount, management receives more shares the lower the share price is. That plan always seemed like a disincentive plan for management to want a higher share price.
New licensing agreements with consumer electronics, automotive and iot?
<<InterDigital, Inc. (NASDAQ: IDCC), a mobile and video technology research and development company, today announced that it expects third quarter 2022 total revenue to be between $112 million and $115 million, up from its previous expectations of $96 million to $100 million.
The updated guidance includes approximately $100 million of recurring revenue and reflects continuing success in the core smartphone licensing program as well as new licensing agreements signed within our consumer electronics, automotive and IoT revenue category.>>
Where did the approximate additional $15 million in revenue in the updated Third Quarter guidance come from since IDCC stated its not from the renewed Apple license? What did I miss?
The company’s recently announced license agreement with a major technology company has no impact on third quarter 2022 revenue.
O I misread
We adjust our target multiple given market conditions
and set our new PO at $50, based on 15x 2023E P/E, from $60 and 19x previous
So he lowered his target price by 10 after the big dog renewed at higher rate than before and secured revs for 7 years without court cost. What an idiot
I think that Liani's most recent report (right after the Apple renewal)
was updated to a $50 price target for IDCC.
Thanks - I just checked QCOM's price on Nov 1, 2018 - it was $63.
Now that's a lousy analyst who didn't put take the litigation situation
into account. On the other hand, I did - I was snatching up QCOM
in that era at what I considered to be bargain prices because I thought
that their case against Apple and the FTC was strong.
I doubled my money - no thanks to BoA / Merrill Lynch's Liani.
And since QCOM is trading pretty cheaply right now (based on
their future products - $30 Billion automotive backlog, RFFE, etc.)
I will be making more money on QCOM over time - no thanks to Liani!
BoA bought Merrill Lynch during the financial crisis about 13 years ago.
The Merrill Lynch brokers used to be known as the "thundering heard" -
they could get their clients to move stocks based on Merill's analysts'
reports.
I imagine that the "thundering heard" still exits.
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