Dougherty & Co Comments on InterDigital, Inc.’s Q4 2017 Earnings (IDCC)
InterDigital, Inc. (NASDAQ:IDCC) – Equities researchers at Dougherty & Co issued their Q4 2017 earnings per share estimates for InterDigital in a research note issued on Monday. Dougherty & Co analyst C. Anderson forecasts that the Wireless communications provider will post earnings per share of $0.78 for the quarter. Dougherty & Co also issued estimates for InterDigital’s FY2018 earnings at $1.36 EPS.
A number of other analysts also recently commented on the company. B. Riley restated a “buy” rating and set a $100.00 price objective on shares of InterDigital in a report on Saturday, July 29th. ValuEngine downgraded InterDigital from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded InterDigital from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, BidaskClub downgraded InterDigital from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. InterDigital presently has an average rating of “Hold” and an average price target of $89.00.
ILLEGAL ACTIVITY WARNING: “Dougherty & Co Comments on InterDigital, Inc.’s Q4 2017 Earnings (IDCC)” was first published by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://www.watchlistnews.com/dougherty-co-comments-on-interdigital-inc-s-q4-2017-earnings-idcc/1675380.html. InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.34. InterDigital had a return on equity of 32.77% and a net margin of 42.94%. The business had revenue of $97.30 million during the quarter, compared to analysts’ expectations of $94.13 million. During the same period in the previous year, the firm posted $2.99 earnings per share. The company’s revenue was down 53.3% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in InterDigital by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,865,421 shares of the Wireless communications provider’s stock valued at $221,497,000 after purchasing an additional 40,030 shares in the last quarter. State Street Corp increased its holdings in InterDigital by 8.2% in the 2nd quarter. State Street Corp now owns 1,199,522 shares of the Wireless communications provider’s stock valued at $92,724,000 after purchasing an additional 91,286 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in InterDigital by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 923,558 shares of the Wireless communications provider’s stock valued at $71,394,000 after purchasing an additional 37,058 shares in the last quarter. Northern Trust Corp increased its holdings in InterDigital by 2.7% in the 2nd quarter. Northern Trust Corp now owns 614,152 shares of the Wireless communications provider’s stock valued at $47,473,000 after purchasing an additional 16,034 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in InterDigital by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 574,574 shares of the Wireless communications provider’s stock valued at $44,415,000 after purchasing an additional 98,874 shares in the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.
In other news, EVP Jannie K. Lau sold 2,561 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $72.31, for a total transaction of $185,185.91. Following the completion of the sale, the executive vice president now directly owns 19,496 shares in the company, valued at approximately $1,409,755.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $75.00, for a total value of $37,500.00. Following the sale, the executive vice president now owns 79,319 shares of the company’s stock, valued at $5,948,925. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,355 shares of company stock valued at $386,248. Insiders own 1.90% of the company’s stock.
InterDigital announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 14th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from InterDigital’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, October 10th. InterDigital’s dividend payout ratio is presently 19.34%.
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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