InterDigital (NASDAQ:IDCC) Updates 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.

Analysts Set New Price Targets

IDCC has been the topic of several analyst reports. Bank of America restated an underperform rating and issued a $100.00 price objective (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com upgraded InterDigital from a hold rating to a buy rating in a research report on Monday, April 29th.

InterDigital Trading Up 0.8 %

Shares of IDCC stock traded up $0.78 on Friday, reaching $103.64. The company had a trading volume of 586,663 shares, compared to its average volume of 479,142. The company has a 50-day moving average of $101.75 and a 200-day moving average of $100.73. InterDigital has a 12 month low of $67.68 and a 12 month high of $119.86. The stock has a market cap of $2.63 billion, a PE ratio of 15.24, a PEG ratio of 0.85 and a beta of 1.35. The company has a current ratio of 1.34, a quick ratio of 1.33 and a debt-to-equity ratio of 0.14.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping 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 company had revenue of $105.52 million for the quarter, compared to analysts’ expectations of $104.31 million. On average, equities analysts forecast that InterDigital will post 7.02 earnings per share for the current year.

InterDigital Announces Dividend

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 $0.40 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.54%. InterDigital’s payout ratio is 23.53%.

Insider Transactions at InterDigital

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

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.