InterDigital (NASDAQ:IDCC) Issues FY24 Earnings Guidance

InterDigital (NASDAQ:IDCC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $7.45-8.76 for the period, compared to the consensus EPS estimate of $5.83. The company issued revenue guidance of $620-670 million, compared to the consensus revenue estimate of $634.73 million. InterDigital also updated its Q2 guidance to $0.70-0.80 EPS.

InterDigital Price Performance

InterDigital stock traded up $0.78 during trading on Friday, reaching $103.64. The company had a trading volume of 586,663 shares, compared to its average volume of 479,142. The firm’s 50-day simple moving average is $101.75 and its 200 day simple moving average is $100.73. InterDigital has a 1-year low of $67.68 and a 1-year high of $119.86. The firm has a market capitalization of $2.63 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.34.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The firm had revenue of $105.52 million for the quarter, compared to analysts’ expectations of $104.31 million. As a group, equities research analysts anticipate that InterDigital will post 7.02 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.54%. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Analysts Set New Price Targets

IDCC has been the topic of several recent research reports. Bank of America reaffirmed an underperform rating and set a $100.00 target price (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com raised shares of InterDigital from a hold rating to a buy rating in a research note on Monday, April 29th.

Insider Activity

In other news, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction of $66,943.23. Following the transaction, the insider now owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the sale, the chief technology officer now directly owns 64,939 shares in the company, valued at approximately $6,190,634.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the sale, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.