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.
Get InterDigital Inc. alerts:
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
- InterDigital to Outline Immersive Technologies Enhancing Sports Experiences at Mobile World Congress Las Vegas • GlobeNewswire Inc. • 10/03/2024 08:00:00 AM
- InterDigital signs new license agreements with TPV • GlobeNewswire Inc. • 10/01/2024 12:30:00 PM
- InterDigital Wins Two CSI Awards for Best Immersive Video and Video Processing Technology • GlobeNewswire Inc. • 09/16/2024 12:30:00 PM
- InterDigital Announces Annual Recurring Revenue Target Of $1 Billion By 2030 • GlobeNewswire Inc. • 09/16/2024 12:00:00 PM
- Interdigital Announces Increase of Regular Quarterly Cash Dividend • GlobeNewswire Inc. • 09/10/2024 12:00:00 PM
- At 6GSymposium, InterDigital to Lead Crucial Discussions on Emerging Use Cases and Avenues Towards 6G Profitability • GlobeNewswire Inc. • 09/09/2024 08:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/06/2024 08:05:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/05/2024 08:01:37 PM
- InterDigital to Showcase Excellence in Broadcast and Immersive Video Solutions at IBC 2024 • GlobeNewswire Inc. • 08/29/2024 08:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/22/2024 12:17:49 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/20/2024 08:06:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 01:05:55 PM
- More than half of connected devices will be haptic enabled by 2028, revealing exciting opportunity for immersive video • GlobeNewswire Inc. • 08/20/2024 08:00:00 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/19/2024 08:19:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 12:28:06 PM
- InterDigital Announces 2024 Investor Day • GlobeNewswire Inc. • 08/01/2024 12:45:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/01/2024 12:35:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/01/2024 12:32:54 PM
- Interdigital Announces Financial Results for Second Quarter 2024 • GlobeNewswire Inc. • 08/01/2024 12:30:21 PM
- InterDigital signs license agreement with Panasonic • GlobeNewswire Inc. • 08/01/2024 08:30:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/26/2024 12:52:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/26/2024 12:48:39 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/26/2024 12:47:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/26/2024 12:45:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/26/2024 12:40:30 PM
North Bay Resources Announces Assays up to 5 oz/ton Gold, 1.5 oz/ton Platinum, 0.5 oz/ton Palladium, and 0.5 oz/ton Rhodium at Mt. Vernon Gold Mine, Sierra County, California • NBRI • Oct 4, 2024 9:15 AM
Basanite, Inc. Appoints Ali Manav as Interim Chief Executive Officer • BASA • Oct 3, 2024 9:15 AM
Integrated Ventures Announces Launch of MedWell Facilities, LLC and Lease Agreement with Giant Fitness Clubs • INTV • Oct 3, 2024 8:45 AM
Beyond the Horizon: Innovative Drug Combinations Offer New Hope for Alzheimer's and More • NVS • Oct 3, 2024 8:45 AM
SMX and FinGo Enter Into Collaboration Mandate to Develop a Joint 'Physical to Digital' Platform Service To Enhance Natural Rubber Industry's Ability to Report on Sustainable and Ethical Supply Chains • SMX • Oct 3, 2024 7:00 AM
Transforming Alzheimer's Treatment: Innovative Combinations to Boost Cognition • PFE • Oct 2, 2024 9:00 AM