FY2018 EPS Estimates for InterDigital, Inc. Raised by Dougherty & Co (IDCC)
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.
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