Monday, August 21, 2017 9:39:28 PM
Posted by Sarita Garza on Aug 21st, 2017 // No Comments
InterDigital, Inc. (NASDAQ:IDCC) – Research analysts at Dougherty & Co raised their FY2018 earnings per share estimates for shares of InterDigital in a research report issued on Thursday. Dougherty & Co analyst C. Anderson now expects that the Wireless communications provider will earn $2.78 per share for the year, up from their previous estimate of $2.29.
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InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.05. The company had revenue of $135.78 million for the quarter, compared to analysts’ expectations of $133.69 million. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. InterDigital’s revenue was up 78.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 EPS.
A number of other brokerages have also commented on IDCC. B. Riley reiterated a “buy” rating and issued a $100.00 price target on shares of InterDigital in a research note on Tuesday, June 13th. Benchmark Co. initiated coverage on shares of InterDigital in a research note on Tuesday, April 25th. They issued a “hold” rating for the company. Zacks Investment Research upgraded shares of InterDigital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. BidaskClub lowered shares of InterDigital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, Sidoti upgraded shares of InterDigital from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. InterDigital presently has a consensus rating of “Hold” and a consensus price target of $87.75.
Shares of InterDigital (NASDAQ:IDCC) opened at 68.90 on Monday. InterDigital has a 52 week low of $67.05 and a 52 week high of $102.30. The company’s 50 day moving average is $74.74 and its 200-day moving average is $83.35. The stock has a market capitalization of $2.39 billion, a PE ratio of 7.51 and a beta of 1.00.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of InterDigital by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,865,421 shares of the Wireless communications provider’s stock valued at $221,497,000 after buying an additional 40,030 shares during the period. State Street Corp raised its stake in shares of InterDigital by 8.2% in the second quarter. State Street Corp now owns 1,199,522 shares of the Wireless communications provider’s stock valued at $92,724,000 after buying an additional 91,286 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of InterDigital by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 923,558 shares of the Wireless communications provider’s stock valued at $71,394,000 after buying an additional 37,058 shares during the period. AQR Capital Management LLC raised its stake in shares of InterDigital by 17.7% in the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock valued at $56,834,000 after buying an additional 99,018 shares during the period. Finally, Northern Trust Corp raised its stake in shares of InterDigital by 2.7% in the second quarter. Northern Trust Corp now owns 614,152 shares of the Wireless communications provider’s stock valued at $47,473,000 after buying an additional 16,034 shares during the period. Institutional investors own 68.49% of the company’s stock.
In related news, Director Jeffrey K. Belk sold 800 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $84.39, for a total transaction of $67,512.00. Following the completion of the sale, the director now directly owns 17,801 shares in the company, valued at $1,502,226.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott A. Mcquilkin sold 500 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $79.15, for a total transaction of $39,575.00. Following the sale, the executive vice president now owns 79,768 shares of the company’s stock, valued at $6,313,637.20. The disclosure for this sale can be found here. Insiders have sold 3,594 shares of company stock valued at $270,649 over the last 90 days. 1.90% of the stock is currently owned by company insiders.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th were given a dividend of $0.30 per share. The ex-dividend date was Monday, July 10th. This represents a $1.20 annualized dividend and a yield of 1.74%. InterDigital’s dividend payout ratio (DPR) is 13.00%.
About InterDigital
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
"Intellectuals solve problems; geniuses prevent them." - Albert Einstein
Recent IDCC News
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/06/2024 08:06:54 PM
- InterDigital Announces Financial Results for First Quarter 2024 • GlobeNewswire Inc. • 05/02/2024 12:30:08 PM
- InterDigital awarded injunction against Lenovo • GlobeNewswire Inc. • 05/02/2024 12:30:00 PM
- InterDigital’s Doug Castor Elected Co-Chair of the ATIS Next G Alliance Steering Group • GlobeNewswire Inc. • 04/29/2024 08:00:00 AM
- New Report Pins 6G Success on Novel Benchmarks Extending Beyond Speed, Latency, and Mobility • GlobeNewswire Inc. • 04/25/2024 08:00:00 AM
- InterDigital Announces Date for First Quarter 2024 Financial Results • GlobeNewswire Inc. • 04/19/2024 12:30:00 PM
- InterDigital and Concordia University Announce Research Collaboration on AI-enabled Immersive Media Delivery over 5G Networks • GlobeNewswire Inc. • 04/15/2024 08:00:00 AM
- InterDigital Announces Convertibility of 3.50% Senior Convertible Notes Due 2027 • GlobeNewswire Inc. • 04/04/2024 12:30:00 PM
- InterDigital to Showcase Innovations in High Definition and Sustainable Video Streaming Alongside Partners at NAB 2024 • GlobeNewswire Inc. • 03/26/2024 08:00:00 AM
- InterDigital Declares Regular Quarterly Cash Dividend • GlobeNewswire Inc. • 03/20/2024 08:30:00 PM
- InterDigital’s Xiaofei Wang Appointed Chair of the IEEE 802.11 Artificial Intelligence and Machine Learning (AIML) Standing Committee • GlobeNewswire Inc. • 03/20/2024 08:00:00 AM
- Interdigital to Speak at the 36th Annual Roth Conference • GlobeNewswire Inc. • 03/11/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 09:58:21 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/05/2024 09:03:32 PM
- InterDigital’s Atle Monrad Elected Chair of 3GPP’s SA6 Working Group • GlobeNewswire Inc. • 03/05/2024 09:00:00 AM
- InterDigital Honors Wireless and Video Innovation Leaders Michael Starsinic and Fabrice Le Léannec as Inventors of the Year • GlobeNewswire Inc. • 02/22/2024 09:30:00 PM
- Keysight and InterDigital to Demonstrate AI in 6G Systems at Mobile World Congress 2024 • Business Wire • 02/21/2024 04:00:00 PM
- At MWC, InterDigital to Showcase Innovation Empowering Connected Experiences ‘At Work, At Rest, and At Play’ • GlobeNewswire Inc. • 02/19/2024 09:00:00 AM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/15/2024 01:37:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/15/2024 01:33:18 PM
- InterDigital Reports Fourth Quarter and Full Year 2023 Financial Results • GlobeNewswire Inc. • 02/15/2024 01:30:36 PM
- U.S. Futures Edge Higher Ahead of Key Economic Data Release, Oil Prices See Modest Declines • IH Market News • 02/15/2024 11:35:32 AM
- InterDigital and Broadpeak Announce Collaboration on MPEG V3C Standardized Content Distribution At Scale • GlobeNewswire Inc. • 02/13/2024 09:00:00 AM
- InterDigital appoints Ken Kaskoun as Chief Growth Officer • GlobeNewswire Inc. • 02/12/2024 01:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/07/2024 01:43:10 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
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Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
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