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InterDigital Announces Proposed Private Offering of $350 Million of Senior Convertible Notes
Company Release - 5/29/2019 7:00 AM ET
WILMINGTON, Del., May 29, 2019 (GLOBE NEWSWIRE) -- InterDigital, Inc. ("InterDigital") (Nasdaq:IDCC) announced that it intends to offer, subject to market and other conditions, $350 million aggregate principal amount of Senior Convertible Notes due 2024 in a private offering. The notes will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Act"). InterDigital also expects to grant to the initial purchasers of the notes a 13-day option to purchase up to an additional $50 million aggregate principal amount of notes, solely to cover over-allotments, if any.
The notes will pay interest semi-annually in cash on June 1 and December 1 and will mature on June 1, 2024. Prior to March 1, 2024, the notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the second scheduled trading day preceding the maturity date. Conversions of the notes will be settled in cash, shares of InterDigital's common stock or a combination thereof, at InterDigital's election. The interest rate, the conversion rate and certain other terms of the notes will be determined by negotiations between InterDigital and the initial purchasers of the notes.
InterDigital expects to use a portion of the net proceeds from the offering of the notes, and the proceeds from the sale of the warrants described below, to fund the cost of the convertible note hedge transactions described below. The remaining net proceeds from the offering of the notes will be used for the repurchase of a portion of InterDigital’s existing 1.50% senior convertible notes due 2020 (the “2020 notes”) in privately negotiated transactions concurrently with the offering of the notes, the repurchase of up to $50 million of shares of InterDigital common stock from institutional investors through one of the initial purchasers or its affiliate, as InterDigital's agent, concurrently with the pricing of the offering of the notes, and for general corporate purposes, which may include, among other things, the repurchase, redemption or other retirement of any remaining 2020 notes.
In connection with the pricing of the notes, InterDigital expects to enter into one or more privately negotiated convertible note hedge transactions with certain financial institutions, which may include one or more of the initial purchasers of the notes or their affiliates (the "hedge counterparties"). The convertible note hedge transactions collectively are expected to cover, subject to customary anti-dilution adjustments, the aggregate number of shares of InterDigital common stock that will initially underlie the notes. InterDigital also expects to enter into one or more privately negotiated warrant transactions with the hedge counterparties whereby InterDigital will sell to the hedge counterparties warrants relating to the same number of shares of InterDigital common stock, with such number of shares subject to customary anti-dilution adjustments. In addition, if the initial purchasers exercise their over-allotment option to purchase additional notes, InterDigital expects to enter into one or more additional warrant transactions and to use a portion of the proceeds from the sale of the additional notes and warrant transactions to enter into additional convertible note hedge transactions. The convertible note hedge transactions are expected to reduce the potential dilution with respect to InterDigital common stock and/or offset any potential cash payments InterDigital is required to make in excess of the principal amount of converted notes, as the case may be, upon any conversion of the notes in the event that the market price per share of InterDigital common stock exceeds the strike price of the convertible note hedge transactions. However, the warrant transactions will have a dilutive effect to the extent that the market price per share of InterDigital common stock exceeds the applicable strike price of the warrants on any expiration date of the warrants.
In connection with the contemplated repurchase of the 2020 notes, InterDigital expects to enter into agreements with the dealers party to certain convertible note hedge transactions related to such 2020 notes (the “Existing Note Hedges”) to unwind a corresponding portion of the Existing Note Hedges. InterDigital also expects to enter into agreements with such dealer counterparties to unwind certain warrant transactions sold at the time of issuance of the 2020 notes (the “Existing Warrants”).
In connection with establishing their initial hedge of the convertible note hedge transactions and warrant transactions and concurrently with, or shortly after, the pricing of the notes, the hedge counterparties and/or their affiliates expect to purchase InterDigital common stock in open market transactions and/or privately negotiated transactions and/or enter into various cash-settled derivative transactions with respect to InterDigital common stock concurrently with, or shortly after, the pricing of the notes. In connection with the unwind of the Existing Note Hedges and the Existing Warrants, InterDigital expects the counterparties thereto and/or their affiliates may reduce their existing hedge positions, which may partially offset the purchases or cash-settled derivatives transactions described in the foregoing sentence. In addition, the hedge counterparties and/or their affiliates may modify their hedge positions following the pricing of the notes by entering into or unwinding various derivative transactions with respect to InterDigital common stock and/or by purchasing or selling InterDigital common stock in open market transactions and/or privately negotiated transactions following the pricing of the notes from time to time (and are likely to do so during any conversion period related to a conversion of notes). Any of these hedging activities could also increase (or reduce the size of any decrease in) the market price of InterDigital common stock.
The notes and the shares of InterDigital common stock issuable upon conversion, if any, have not been registered under the Act or applicable state securities laws and may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Act and applicable state securities laws.
InterDigital Issues Guidance For Second Quarter 2019
GlobeNewswire• May 28, 2019
WILMINGTON, Del., May 28, 2019 (GLOBE NEWSWIRE) -- InterDigital, Inc. (IDCC), a mobile technology research and development company, today provided revenue guidance for second quarter 2019.
The company expects total second quarter 2019 revenue to be between $73 million and $77 million, which includes less than $1 million in past sales. This revenue guidance does not include the potential impact of any new patent license, technology solutions or patent sale agreements that may be signed, or any arbitration or dispute resolutions that may occur, during the balance of second quarter 2019.
As previously announced, the company expects to close the pending acquisition of Technicolor’s R&I team at the end of this month. The company expects its second quarter 2019 operating expenses to be approximately $3 million to $5 million above first quarter 2019, with the increase being driven entirely by one-time integration costs and recurring expenses associated with the acquisition of the R&I team.
Furthermore, the company estimates that it will recognize a one-time non-operating gain between $5 million and $10 million associated with this transaction during second quarter 2019.
All of the above expectations surrounding the pending acquisition are based on estimates and preliminary accounting conclusions.
InterDigital Brings EdgeLink Solution to Rutgers University
Zacks
Zacks Equity Research
,Zacks • May 27, 2019
Per media reports, InterDigital, Inc. IDCC recently announced that its EdgeLink solution has been made available to Rutgers University in New Jersey, with an aim to be included in the Platforms for Advanced Wireless (PAWR)-funded COSMOS testbed in New York City.
The wireless R&D company’s EdgeLink is an integrated millimeter wave Mesh transport technology with a centrally controlled Mesh software. The solution allows researchers to develop and test mesh networking algorithms over 60GHz mmWave radio links.
COSMOS is a joint project involving Rutgers University, Columbia University and New York University, along with several partner organizations. Reportedly, the testbed would be deployed in Manhattan and will comprise 40 to 50 advanced software-defined radio nodes, coupled with fiber-optic networks.
Markedly, the testbed aims to support the experimentation of next-generation wireless technologies and applications that focus on ultra-high bandwidth and low latency wireless communication, along with edge cloud computing.
InterDigital is optimizing its strength in core wireless licensing business. It has taken steps to drive shareholder value through the buyout of Technicolor licensing business. This has created significant new licensing opportunity in the video and consumer electronics markets.
The company has also made an offer to acquire the Research & Innovation unit of Technicolor SA, a technology leader in the media and entertainment sector. It is poised to benefit from growth opportunities, fueled by the 5G rollout. Strategic acquisitions are expected to be accretive to InterDigital’s financials and contribute to its long-term growth.
InterDigital has long-term EPS growth expectation of 15%. The stock has incurred an average loss of 18.9% against the industry’s rise of 6.2% over the past year. It is to be seen whether state-of-the-art solution offerings can help turnaround the company’s profitability in the near future.
InterDigital’s commitment toward licensing its broad portfolio of technologies to wireless terminal equipment makers, which allows it to expand its core market capability, is laudable. Its global footprint, diversified product portfolio and ability to penetrate in different markets are impressive.
Currently, InterDigital has a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include Harris Corp. HRS, Ubiquiti Networks, Inc. UBNT and Juniper Networks, Inc. JNPR, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
InterDigital Delivers EdgeLink Solution to New York COSMOS Wireless PAWR Testbed
InterDigital’s EdgeLink mesh network controller and orchestrator to be used in R&D collaboration in gigabit low latency wireless networking
Company Release - 5/23/2019 4:00 AM ET
WILMINGTON, Del., May 23, 2019 (GLOBE NEWSWIRE) -- InterDigital (NASDAQ: IDCC), a mobile technology research and development company, today announced that its EdgeLink solution has been delivered to Rutgers University in New Jersey, USA, to be included in the Platforms for Advanced Wireless (PAWR)-funded COSMOS testbed, in New York City. The testbed aims to support the real-world experimentation of next-generation wireless technologies and applications that focus on ultra-high bandwidth and low latency wireless communication, coupled with edge cloud computing.
EdgeLink is a Software Defined Networking (SDN)-controlled millimeter wave (mmWave) transport solution that will enable researchers to develop and test mesh networking algorithms over 60GHz mmWave radio links in an urban environment. EdgeLink supports multi-hop mesh network topologies that are ideal for small cell fronthaul and backhaul, and fixed wireless access applications. Additionally, a central controller together with an orchestration application allows for the creation of individual transport slices and the management of per-slice service level agreements (SLAs).
“We are excited to be working with InterDigital’s EdgeLink solution and deploying it in the COSMOS testbed in NYC,” said Ivan Seskar, Program Director, COSMOS. “EdgeLink will play a key role in understanding how mmWave links controlled by a programmable controller can be successfully utilized in a dense urban environment like NYC. This will prove particularly important as we rapidly move towards 5G, and there’s no doubt that EdgeLink will contribute considerably to our research efforts.”
Commenting on the announcement, Doug Castor, Senior Director at InterDigital, said: “With 5G soon to become a reality, it is solutions such as EdgeLink that will help researchers discover the potential of gigabit speed, low-latency wireless networks that will be cheaper to deploy, run and manage. We look forward to working with the COSMOS team and other testbed users to explore advancements in wireless technology and applications that will take us beyond 5G.”
COSMOS is a joint project involving Rutgers University, Columbia University and NYU, along with several partner organizations including New York City, CCNY, University of Arizona, Silicon Harlem and IBM. The testbed will be deployed in Manhattan, New York and will consist of 40-50 advanced software-defined radio nodes, along with fiber-optic fronthaul and backhaul networks, and edge and core cloud computing infrastructure.
The COSMOS testbed is part of the wider PAWR project initiative, a research consortium of 28 US companies and associations – including InterDigital – and funded by the National Science Foundation (NSF). PAWR is dedicated to the experimental exploration of robust new wireless devices that will revolutionize the wireless ecosystem of North America. The PAWR Project Office (PPO) manages the $100 million partnership and oversees the development and funding of the research platforms. The PPO is co-led by US Ignite, Inc., and Northeastern University.
Information on how to access InterDigital’s open source software will be available via the COSMOS website at https://cosmos-lab.org/
About InterDigital®
InterDigital develops mobile 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 and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital Contact:
Patrick Van de Wille
Email: patrick.vandewille@interdigital.com
+1 (858) 210-4814
InterDigitalLogo-2016.jpg
Source: InterDigital, Inc.
U said thi years ago.
In banki data processing, you would reference custom code for specific banks with a reference number. Then, when you came to that sector of the program it would look at the reference points and execute or bypass the function for specific banks.
It would probably be easy to reference code for telecom IP and assign each vendor with a check number. then, when someone dials a number, it goes through the code and if it finds no authorisation to use the program, it boots your call out.
Can you imagine how many users would bitch if their alls were not connected.
I woul bet that infringers would jump to sign agreements rather than face the wrath of the consumer.
JMO
What we really need is for someone to buy ous out at $90-$100 and put us out of our agony over the future of this stock.
If we still like the direction, we can buy shares in whoever acquires us.
JMO
my3sons87: What are we winning?
WOW - Now up $0.33. Something's brewing fore sure !
pochemunyet: somebody knows something -- stock is up now by $0.17
pochemunyet: somebody knows something -- stock is up now
jeffree, are you smoking some of those cannabis stock certificates you own ?
LOL
my3sons87: Do you think when a trade agreement is reached the chinese companies (ZTE and all other unlicensed IPR users) will come to IDCC and say:
OK we have trade agreement, how much do we owe you?
or
We will begin licensing from you on lower terms beginning today?
or
"Business as usual" == We are not infringing! Catch us if you can! Sue us - we will tie it up in court for years!".
We no pay! We have no money!
Any trade agreement reached will be for tangible hard goods and not Intellectual Property.
JMO
Didn't someone post Big-Block-activity a while back?
Wish that was available again, especially for the last couple of days.
TIA
mICKEYBRITT and LARANGER -- what a team up there ! !
I am hearing 'A SCREAMING BUY and LOTS OF OREENO'S in the sky!
God Bless them Both ! ! ! ! !
I would like to challange the Board of Directors to make a bold statement showing their confidence by DECLARING A SPECIAL DIVIDEND OF $2.00 PER SHARE, PAYABLE THE DATE OF THE ANNUAL MEETING.
Today after the market closes would be gret, but Monday morning would even be good.
Don't wait too long -- strike when the iron is hot !
oOK Mr. Chairman -- what do you say?
Like Nike says, JUST DO IT !!!
DELETED BY AUTHOR
DIVIDEND REINVESTMENT PLANS -- NO BIG DEAL !
HELP ! IDCC'S FALLEN AND IT CANT GET UP!
oNE HOPE HERE -- IS idcc BUYING BACK ITS SHARES ?
On the other side, Qualcomm IS able to execute ! ! !
Up $5.00 today.
Stock has been on a terror the last few days, after reaching a settlement with Apple.
InterDigital To Showcase 5G Experimentation Platforms At Brooklyn 5G Summit
InterDigital to demonstrate its AdvantEDGE™ and 5G NR 28GHz platforms
Company Release - 4/23/2019 8:30 AM ET
WILMINGTON, Del., April 23, 2019 (GLOBE NEWSWIRE) -- InterDigital (NASDAQ: IDCC), a mobile technology research and development company, will be showcasing two platforms that are spearheading development for 5G technologies at the Brooklyn 5G Summit 2019, which takes place April 23-26 at the NYU Tandon School of Engineering. InterDigital’s AdvantEDGE and 5G New Radio (NR) 28GHz platforms are open, customizable research testbeds that help designers and developers prototype and experiment technologies integral to the future of 5G.
InterDigital’s AdvantEDGE is a mobile edge emulation platform. It enables edge network and application developers to prototype, experiment and validate edge applications and services in an agile environment. By mimicking network characteristics, including latency, packet loss and throughput, across distant cloud, edge and terminals, developers can analyze the placement and associated latencies of services and applications in the 5G edge network.
The demonstration of AdvantEDGE at the Brooklyn 5G Summit will showcase an autonomous drone system operating in a dense urban environment, where buildings and other obstacles can block sensors and prohibit safe operation. By deploying an Edge Collaborative Collision Detection and Avoidance (DAA) service at the ‘extreme edge’ of the network, airspace collision points can be computed in order to issue resolution advisories, which result in the drones avoiding hazards.
InterDigital will also be showcasing its 5G NR 28GHz platform. This platform is designed for researchers by using Software Defined Radio (SDR) techniques and a small form factor two-unit configuration. The platform consists of an outdoor ready, 64 element array mast head with beamforming capability and an SDR processing unit. The PHY has been designed with standardized API between PHY and MAC allowing for collaborations with third party Layer 2 and 3 software protocol stacks, such as OpenAirInterface™. A live demonstration at the summit will showcase an over-the-air 5G NR 28GHz beam-steering radio connection with real-time metric reporting capabilities to aid researchers.
“As a research company, InterDigital is in a unique position to deliver hardware and software platforms that are designed specifically to be used by research partners. With 5G deployment, this is even more important: 5G opens the door to new application types and use cases, and it’s important for the industry to have platforms and environments where they can experiment with current and future 5G technologies and services and develop those capabilities,” said Douglas Castor, Senior Director at InterDigital. “Both the AdvantEDGE and 5G NR 28GHz platforms help to advance the delivery of services that rely on ultra-low latency. Our demonstrations at the Brooklyn 5G Summit will show how our platforms are acting as catalysts for innovation that brings the industry closer to the reality of the 5G experience.”
InterDigital has played an instrumental role in the development of multiple generations of wireless technologies, from 2G to 3G, 4G and now, in the development of 5G. It participates in 5G research testbeds across the globe, including European Horizon 2020 projects and the National Science Foundation’s Platform for Advanced Wireless Research (PAWR), where it is a founding member.
Apple, Qualcomm settle royalty dispute, and Qualcomm is spiking
PUBLISHED 15 MIN AGO UPDATED MOMENTS AGO
David Faber
@DAVIDFABER
Kif Leswing
@KIFLESWING
Apple and Qualcomm have settled their royalty dispute, the companies announced in a press release.
The settlement includes a payment from Apple to Qualcomm as well as a chipset supply agreement, suggesting that future iPhone may use Qualcomm chips.
Qualcomm stock rose over 13% after the news broke. Apple was up less than 1%.
The two companies started proceedings in a trial in federal court in San Diego on Monday, which was expected to last until May.
In November, Qualcomm CEO Steve Mollenkopf said that he believed that the two companies were on the “doorstep” to settling. Apple CEO Tim Cook contradicted him shortly after, saying that Apple hasn’t been in settlement discussions since the third calendar quarter of 2018.
The complicated legal battle centered around modem chips. For years, Apple bought modem chips from Qualcomm, but chafed under Qualcomm’s prices and requirement that any company using its chips would also pay licensing fees for its patents.
Apple and Qualcomm were not immediately available for comment.
Here is the full press release:
Qualcomm and Apple® today announced an agreement to dismiss all litigation between the two companies worldwide. The settlement includes a payment from Apple to Qualcomm. The companies also have reached a six-year license agreement, effective as of April 1, 2019, including a two-year option to extend, and a multiyear chipset supply agreement.
This story is developing. Please check back for updates.
Apple, Qualcomm settle royalty dispute, and Qualcomm is spiking
CNBC
David Faber
Apple AAPL and Qualcomm QCOM have settled their royalty dispute, sources told CNBC.
Qualcomm stock rose over 10% after the news broke. Apple was up less than 1%.
This story is developing. Please check back for updates.
More From CNBC
https://finance.yahoo.com/news/apple-qualcomm-settle-royalty-dispute-185540756.htm
redviking: Maybe a press release will come monday from InterDigital ?
It would be nice, but, as usual, IDCCC doesn't comment on licensing less than 10% of its revenues.
Maybe one of our analysts will bring this to focus in the next earnings call.
JMO
InterDigital Announces Date For First Quarter 2019 Financial Results
Company Release - 4/8/2019 8:30 AM ET
WILMINGTON, Del., April 08, 2019 (GLOBE NEWSWIRE) --
InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and development company, today announced that the company will release its first quarter 2019 financial results before market open on Thursday, May 2nd, 2019. InterDigital executives will host a conference call that same day at 10:00 a.m. Eastern Time to discuss the company's financial performance and other company matters.
For a live Internet webcast of the conference call, visit http://www.interdigital.com/ and click on the link to the live webcast on the Investors page. The company encourages participants to take advantage of the Internet option.
For telephone access to the conference, call (877) 260-1479 within the United States or +1 (334) 323-0522 from outside the United States. Please call by 9:50 a.m. ET on May 2nd and give the operator conference ID number 8316028.
An Internet replay of the conference call will be available on InterDigital's website in the Investors section. In addition, a telephone replay will be available from 1:00 p.m. ET May 2nd through 1:00 p.m. ET May 8th. To access the recorded replay, call +1 (888) 203-1112 or +1 (719) 457-0820 and use the replay code 8316028.
About InterDigital®
InterDigital develops mobile 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 and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index.
InterDigital is a registered trademark of InterDigital, Inc.
dndodd: Just curious -- how are you doing with Titan Medical?
I WAS looking at it and then they did the r/S at around $7 and it sunk as low as 1.00+
I see it is now around $2.50, up from its low of slightly north of $1.00.
Still see light at the end of the tunnel?
That's what I say every night ! LOL
InterDigital (IDCC) Down 8% Since Last Earnings Report: Can It Rebound?
Zacks
Zacks Equity Research
,Zacks•March 23, 2019
It has been about a month since the last earnings report for InterDigital (IDCC). Shares have lost about 8% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is InterDigital due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
InterDigital Tops Q4 Earnings and Revenue Estimates
InterDigital reported healthy fourth-quarter 2018 financial results, wherein both the bottom line and the top line surpassed the respective Zacks Consensus Estimate.
Net Income
Net income for the reported quarter was $1.8 million or 5 cents per share (under the revenue recognition standard "ASC 606"), which beat the consensus estimate by 1 cent. The bottom-line figure for the year-ago quarter was $52.5 million or $1.48 per share (under the revenue recognition standard, "ASC 605"). For full-year 2018, net income was $63.9 million or $1.81 per share (per ASC 606) compared with $174.3 million or $4.87 per share (per ASC 605) in 2017.
Revenues
The wireless R&D company’s quarterly revenues totaled $75.3 million, down 63.3% year over year. The reported figure, however, surpassed the Zacks Consensus Estimate of $72 million. The year-over-year decrease in the top line was due to the adoption of new revenue recognition standard (ASC 606) that impacted the company’s revenue recognition from certain of its fixed-fee and per-unit license agreements. While revenues from patent royalties came in at $72 million, the same from current technology solutions were $2.5 million. For full-year 2018, the top line decreased 42.3% to $307.4 million.
Other Quarterly Details
Total operating expenses were $71.5 million, reflecting an increase of 19.9% year over year, mainly due to $18.7 million of costs related to the acquisition of Technicolor SA’s patent licensing business in July 2018. Notably, adoption of ASC 606 did not have any impact on expenses in the reported quarter. Selling, general and administrative (as percentage of total operating expenses) was 17.4% compared with 23.5% in the year-ago quarter. Operating income was $3.8 million compared with $145.7 million a year ago.
Cash Flow and Liquidity
For full-year 2018, InterDigital generated $146.8 million of net cash from operating activities compared with $315.8 million in 2017. For 2018, free cash flow was $112.1 million compared with $278.8 million a year ago.
As of Dec 31, 2018, the company had $945.8 million of cash and short-term investments with $351.5 million of long-term debt and liabilities compared with the respective tallies of $1,158 million and $295.2 million a year ago.
Share Repurchase
During the fourth quarter, the company repurchased 0.9 million shares for nearly $67 million. Moreover, from Jan 1, 2019 through Feb 20, 2019 it repurchased an additional 0.9 million shares for $63.2 million. Notably, $105 million is remaining for repurchase subsequent to the increase in buyback authorization in December 2018.
Outlook
InterDigital is optimizing its strength in core wireless licensing business and has taken steps to drive shareholder value through the buyout of Technicolor licensing business. This has created significant new licensing opportunity in the video and consumer electronics markets. It remains poised to gain from future growth opportunities, fueled by the 5G rollout. The company expects total revenues in first-quarter 2019 to be between $70 million and $75 million, which includes less than $1 million of non-recurring revenues.
How Have Estimates Been Moving Since Then?
Fresh estimates followed a downward path over the past two months. The consensus estimate has shifted -77.78% due to these changes.
VGM Scores
Currently, InterDigital has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
InterDigital has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
You are correct; buy backs don't bring shareholder value for thi company. Rather, it gives a 'false' impression that the copany is doing good.
Assume we have 30 million shares and income of $60 million. That results in income of $2 per share.
Then, leTS assume we have 20 million shAres and income of %60 million. That results in income of $3 per share.
While $3 looks better than $2 income per share, you are still dealing with ONLY $60 MILLION IN INCOME. So, show me where there is shareholder value in these two comparisons!
Skip the share buy backs and pay out the excess money on hand in the form of an initial one-time special dividend by returning some of the cash to shareholders (and by the way, insiders who hold shares would ALSO get this one-time special dividend).
First, Allocate $100 million NOT TO A BUYBACK, but to a SPECIAL DIVIDEND to the shareholders.
Second, allocate a percentage of each year's net income to an ongoing annual special dividend.
If net income was $600 million and the company allocated 20% to this annual special dividend, and had 30 million shares outstanding, it would result in a $4 special dividend.
I think this type of program would definitely renew strong interest in owning shares and boost the prices, ESPECIALLY if THE COMPANY CAN DELIVER ON ITS GROWTH TARGETS WITH 5-G, IoT, SENSORS, THE TECHNOCOLOR ACQUISITION, AND OTHER PROMISING PRODUCTS.
tHIS SPECIAL DIVIDEND WILL CERTAINLY BE A QUESTION / SUGGESTION I WILL BRING UP AT THE ANNUAL MEETING.
I hope others here follow my lead and likewise suggest this to management.
But some of my questions were ignored.
Remember the infamous power outage?
The BOD no longer face the challenges of shareholders at an annual meeting. Several years ago, one shareholder ripped into the BOD at the meeting with his commentary (I believe his name was Espy or something like that).
The webcast meeting limits the shareholder questions which are edited by management before presenting the jist of shareholder's comments. If they don't want to answer the question, they simply ignore the request.
Perhaps they should allow for call-in questions, put through via some type of speaker phone system, so the shareholders get to ask questions they way they want to, and not the way the compaany wants to edit it.
jmo
Rich speaks of a lot of opportunity ---
but nothing we as shareholders can put its hands around.
Rich is not a good speaker.
Too many 'uh's, and 'um's in his presentation.
JMO
MAYVE SOMEBODY KNOWS SOMETHING ! lol
InterDigital Announces Conversion Rate Adjustment to and Convertibility of 1.50% Senior Convertible Notes Due 2020
GlobeNewswire•March 5, 2019
WILMINGTON, Del., March 05, 2019 (GLOBE NEWSWIRE) -- InterDigital, Inc. (IDCC), a mobile technology research and development company, announced today an adjustment to the conversion rate applicable to its 1.50% Senior Convertible Notes due 2020 (the “Notes”). In connection with the cash dividends previously announced by the Company and paid on May 1, 2018, July 25, 2018, October 24, 2018 and January 23, 2019, the conversion rate for the Notes has been increased to 14.0506 shares of the Company’s common stock (“Company Common Stock”) per $1,000 principal amount of Notes.
WELL, THEY DID IT AGAIN
GOT THE PRICE DOWN FROM AN INTRADAY HIGH OF $70.67 DOWN TO A CLOSE OF $69.73, JUST A MERE %$0.07 GAIN ON THE DAY!
Wish I could comprehend what he is saying in his cryptic post !
IMO buy backs do NOT result in long term value to shareholders. Cash in our hand via dividends is something we can wrap our hands around.
You can't spend a buy back while you can spend dividends !
GASOLINE WORKS BETTER !
Yes it makes a 'FLOP' sound !
As World Rolls Out First Generation of 5G Technology, InterDigital Keeps Mobile World Congress Focus on the Future
Edge Computing, Immersive Video, Industry 4.0 and Open Technologies Take Center Stage as InterDigital Maintains Track Record of Working Far Ahead of Market
Company Release - 2/25/2019 1:30 AM ET
BARCELONA, Spain, Feb. 25, 2019 (GLOBE NEWSWIRE) -- MOBILE WORLD CONGRESS 2019 – The first 5G devices may be rolling out this year, but InterDigital (NASDAQ: IDCC) has been demonstrating working 5G platforms and prototype systems since 2013. This year, the company continues its long track record of demonstrating working systems far ahead of market rollout, with a suite of edge connectivity and computing solutions and immersive experiences that lift the curtain on future generations of content.
“This year, we’ll see the first deployments of 5G technologies that have been cooking in research and standardization for the past decade, and that we’ve made tremendous contributions to. But the first generation of 5G will be about tentative steps in devices and other services, which are essentially a next step to the evolution we’ve seen since the start of wireless. At InterDigital, our work has moved on to the major transformations that will characterize future generations of 5G and beyond, as well as the content transformations that will break the flat plane of video and move into immersive experiences,” said Henry Tirri, Chief Technology Officer.
In addition to showcasing groundbreaking demonstrations around Edge Computing, 5G Testbeds, 5G Standards and Beyond and Immersive Video and Video Standards, the InterDigital booth (Hall 7, Booth 7C61) will host a daily CREATORS AT MWC19 panel series, featuring some of the industry’s brightest thought leaders and technologists. Representatives from China Mobile, the European Broadcasting Union, Ericsson, FLAME, Open Edge Computing, Network2030, Nokia, Samsung, US PAWR, Technicolor, Telenor, 5G Vinni, 5G Smart Tourism, 5TONIC and others will participate and debate the evolving technological trends.
The CREATORS at MWC19 series will take place at the InterDigital booth and will also be webcast live and on-demand from the InterDigital website. For a complete schedule of topics and panelists, and to register or add to your calendar, visit the InterDigital website.
Monday, February 25
11:30 a.m. CET - Immersive Video: Augmenting the View
3:30 p.m. CET – How Far Can Edge Computing Take Us to a New Architecture?
Tuesday, February 26
10:30 a.m. CET – How Will Open Source Play a Role in the Evolving 5G Ecosystem?
*Immediately following this panel discussion, InterDigital will host a meeting for Open Air Interface members and interested parties that will also be open to the public.
3:30 p.m. CET – 5G Network Trials: What Are All the Verticals Doing?
Wednesday, February 27
3:30 p.m. - CET Beyond 5G: What is Coming Next?
In addition to CREATORS at MWC19, the InterDigital booth studio stage will also feature interviews and discussions with media partners, including Light Reading, The Mobile Network, TelecomTV and Digital TV Europe, as well as daily live music at 5:00 p.m, featuring The Mañaners.
This also marks the third year that InterDigital executives will be speaking on the main stage, as part of the conference portion of MWC. On Tuesday, February 26 at 1:00 p.m. CET, Alan Carlton, Vice President, InterDigital Labs will join a panel on "5G Deployment in High-Frequency Bands," and later the same day at 3:30 p.m. CET, Jim Nolan, Executive Vice President, InterDigital will discuss "Cashing in on Industrial Data."
InterDigital Demos Comprehensive, Compelling Edge Visions at Mobile World Congress 2019
Company Release - 2/25/2019 1:35 AM ET
Company Showcases How Today’s Edge Computing Testbeds and Trials
Are Set to Impact the Future of 5G Wireless Experiences
BARCELONA, Spain, Feb. 25, 2019 (GLOBE NEWSWIRE) -- MOBILE WORLD CONGRESS 2019 – One of the most promising and compelling areas of 5G development is in edge connectivity and computing – a technology that remains years ahead of any market rollout, but which matches the needs for deployment of drones, VR/AR, robotics and artificial intelligence. With one of the most comprehensive and compelling edge R&D efforts in the industry, InterDigital, Inc. (NASDAQ: IDCC), a mobile technology research and development company, will place a focus on this transformative technology at Mobile World Congress 2019 in Barcelona.
“With 5G services just beginning to roll out this year, there’s still a lot of work underway that will make valuable contributions to the evolving technology and standards,” said Alan Carlton, Vice President, InterDigital Labs. “We’re collaborating with some of the best and brightest minds in the industry to bring 5G closer to the edge – up to and including the terminal – to enable intelligent new services and more efficient network operations in an increasingly connected world.”
InterDigital will demonstrate various groundbreaking technology scenarios that are helping to activate the next generation of wireless capabilities:
With its AdvantEDGE™ edge simulation platform demonstration, InterDigital will show how edge computing combined with 5G ultra-reliable low latency communications (URLLC) can permit drones to operate effectively and carefully in a dense urban environment.
The company will also demonstrate how its service-based architecture platform is being deployed in Bristol, UK and Barcelona in multi-partner initiatives such as Horizon2020 FLAME and UK-funded Smart Tourism projects. The demo will show performance benefits across the network, including increasing the flexibility of network-wide service deployments and facilitating dynamic mobile function offloading.
A 5G-CORAL virtual reality video streaming demo will highlight the benefits of micro-services-based distributed computing at the extreme edge of the 5G network. Visitors will experience end-to-end, 360-degree video streaming deployed cost-efficiently across three tiers of computing nodes (low, medium and high-end) all under unified orchestration and control.
“What we’re learning from our edge computing research initiatives is that you need to look at both the network latency and the edge process latency in tandem,” said Castor. “This is the kind of insight that only results from testing and trialing what’s possible, working with testbed and consortium partners, so we can create technology solutions and global standards that work day in and day out in the real world.”
InterDigital will also host a daily CREATORS AT MWC19 panel series, featuring some of the industry’s brightest thought leaders and technologists. On Tuesday, Feb. 25, at 3:30 p.m. ET, an esteemed panel will discuss, How Far Can Edge Computing Take Us to a New Network Architecture? This panel will discuss how edge computing is becoming more pervasively distributed into the network including UEs and CPEs, what technologies are involved, what is wrong with today’s approach to edge computing, what value is there in driving this down to devices and what are the barriers to making this happen.
Panelists:
Dr. Rolf Schuster, Director, Open Edge Computing Initiative
Laurent Depersin, Director Research and Innovation HOME Lab, Technicolor
Arturo Azcorra, Director of IMDEA and VP and Co-Founder, 5TONIC
Todd Spraggins, Strategy Director, Communications Global Business Unit, Oracle
Dirk Trossen, Sr. Principal Engineer, InterDigital and FLAME Technical Manager
Moderated by Robert Gazda, Sr. Director, Engineering, InterDigital