InterDigital Inc (IDCC)

[Gamco]

Zacks Research Weighs in on InterDigital, Inc.'s Q2 2023 Earnings (NASDAQ:IDCC)
MON., MARCH 20, 2023

InterDigital, Inc. (NASDAQ:IDCC - Get Rating) - Equities researchers at Zacks Research cut their Q2 2023 EPS estimates for InterDigital in a report released on Wednesday, March 15th. Zacks Research analyst S. Bose now anticipates that the Wireless communications provider will post earnings of $0.41 per share for the quarter, down from their prior estimate of $0.54. The consensus estimate for InterDigital's current full-year earnings is $2.54 per share. Zacks Research also issued estimates for InterDigital's Q4 2023 earnings at $0.59 EPS, FY2023 earnings at $1.85 EPS, Q3 2024 earnings at $0.64 EPS, FY2024 earnings at $2.49 EPS and FY2025 earnings at $2.96 EPS.

InterDigital (NASDAQ:IDCC - last issued its quarterly earnings results on Wednesday, February 15th. The Wireless communications provider reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.16. The business had revenue of $117.10 million during the quarter, compared to analyst estimates of $113.93 million. InterDigital had a net margin of 20.47% and a return on equity of 13.02%. InterDigital's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share.

A number of other analysts have also commented on IDCC. StockNews.com assumed coverage on shares of InterDigital in a report on Thursday. They set a "hold" rating for the company. Jefferies Financial Group assumed coverage on shares of InterDigital in a report on Friday, December 9th. They set a "buy" rating and a $80.00 target price for the company. William Blair assumed coverage on shares of InterDigital in a report on Thursday, January 26th. They set an "outperform" rating for the company. Finally, TheStreet raised shares of InterDigital from a "c+" rating to a "b" rating in a report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $70.00.

InterDigital Price Performance
IDCC opened at $72.59 on Monday. The company has a fifty day moving average price of $69.83 and a two-hundred day moving average price of $55.87. The company has a debt-to-equity ratio of 0.83, a quick ratio of 4.96 and a current ratio of 4.96. InterDigital has a 52 week low of $40.23 and a 52 week high of $75.74. The firm has a market capitalization of $2.15 billion, a PE ratio of 23.49, a P/E/G ratio of 2.45 and a beta of 1.21.

Insider Transactions at InterDigital
In other news, insider Eeva K. Hakoranta sold 766 shares of InterDigital stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $73.05, for a total transaction of $55,956.30. Following the transaction, the insider now directly owns 20,200 shares of the company's stock, valued at $1,475,610. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Eeva K. Hakoranta sold 766 shares of the business's stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $73.05, for a total value of $55,956.30. Following the sale, the insider now directly owns 20,200 shares of the company's stock, valued at approximately $1,475,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Brezski sold 10,386 shares of the business's stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $73.77, for a total transaction of $766,175.22. Following the transaction, the chief financial officer now owns 91,496 shares in the company, valued at $6,749,659.92. The disclosure for this sale can be found here. Insiders have sold a total of 23,023 shares of company stock valued at $1,691,327 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of IDCC. Huntington National Bank grew its position in shares of InterDigital by 602,700.0% during the 3rd quarter. Huntington National Bank now owns 6,028 shares of the Wireless communications provider's stock worth $244,000 after purchasing an additional 6,027 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of InterDigital by 33.6% during the 3rd quarter. Boston Trust Walden Corp now owns 543,536 shares of the Wireless communications provider's stock worth $21,970,000 after purchasing an additional 136,772 shares in the last quarter. SG Americas Securities LLC grew its position in shares of InterDigital by 89.8% during the 3rd quarter. SG Americas Securities LLC now owns 22,207 shares of the Wireless communications provider's stock worth $898,000 after purchasing an additional 10,505 shares in the last quarter. AlphaCrest Capital Management LLC grew its position in shares of InterDigital by 185.8% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 20,360 shares of the Wireless communications provider's stock worth $823,000 after purchasing an additional 13,236 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of InterDigital by 49.0% during the 2nd quarter. Lazard Asset Management LLC now owns 1,998 shares of the Wireless communications provider's stock worth $121,000 after purchasing an additional 657 shares in the last quarter. Institutional investors and hedge funds own 83.97% of the company's stock.

About InterDigital (Get Rating)
InterDigital, Inc engages in the design and development of technologies that enable and enhance wireless communications, and capabilities. It focuses on mobile technology and devices, which includes cellular wireless technology, Internet of Things, technology, video coding & transmission, sensor and sensor fusion technology.

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