InterDigital (NASDAQ:IDCC) Releases Q2 Earnings Guidance

InterDigital (NASDAQ:IDCC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.70-0.80 for the period, compared to the consensus estimate of $0.56. The company issued revenue guidance of $93-97 million, compared to the consensus revenue estimate of $107.89 million. InterDigital also updated its FY24 guidance to $7.45-8.76 EPS.

Analyst Ratings Changes

Several brokerages have weighed in on IDCC. StockNews.com upgraded shares of InterDigital from a hold rating to a buy rating in a research report on Monday, April 29th. Bank of America restated an underperform rating and issued a $100.00 price target (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

InterDigital Price Performance

Shares of NASDAQ:IDCC traded up $0.78 during midday trading on Friday, hitting $103.64. 586,663 shares of the stock were exchanged, compared to its average volume of 479,142. InterDigital has a twelve month low of $67.68 and a twelve month high of $119.86. The company has a current ratio of 1.34, a quick ratio of 1.33 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $101.75 and a 200-day moving average price of $100.73. The stock has a market cap of $2.63 billion, a P/E ratio of 15.24, a PEG ratio of 0.85 and a beta of 1.35.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The company had revenue of $105.52 million for the quarter, compared to the consensus estimate of $104.31 million. On average, research analysts forecast that InterDigital will post 7.02 earnings per share for the current year.

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were issued a $0.40 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.54%. InterDigital’s dividend payout ratio (DPR) is 23.53%.

Insider Activity at InterDigital

In other news, insider Eeva K. Hakoranta sold 699 shares of InterDigital 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 directly owns 29,984 shares in the company, valued at $2,871,567.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the transaction, the chief technology officer now directly owns 64,939 shares in the company, valued at $6,190,634.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the sale, the insider now directly 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.