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Thursday, May 01, 2003 11:41:12 PM
The fact is that each exercise of 1M shares at an average of, say, $22 per share generates $22M in CASH and a tax benefit. The higher the actual exercise price, the greater the cash inflow for IDCC. The downside is dilution.
However, dilution is not yet an issue for IDCC since it is still in its high-growth stage and is valued more by its P/S ratio or price to sales ratio than its EPS or earnings per share. In fact, I repeat the argument that IDCC's stock float of 55M shares is still too tight for many mid-cap institutions, forcing many funds to take smaller positions that they would otherwise take if IDCC had something like, say, 100M shares.
Keep your feet on the ground now. Nobody is saying that IDCC should issue 45M shares to management and employees. It should come as no surprise, however, that one of the first decisions made after the 3/14 settlement was to promote its M&A guy, who has 20 plus years of venture capital experience. I figure that the ERICY settlement gave IDCC a merger and acquisition war chest of at least $1B in cash and stock-as-currency in a technology industry that is plagued by overcapacity in many areas. In other words, it's a buyers' market in many areas inside the wireless industry or outside the wireless industry.
Recent IDCC News
- 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
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- 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
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- Form 11-K - Annual report of employee stock purchase, savings and similar plans • Edgar (US Regulatory) • 06/20/2024 12:30:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 08:10:56 PM
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