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.

Wall Street Analyst Weigh In

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

InterDigital Stock Performance

Shares of InterDigital stock traded up $0.78 during trading on Friday, reaching $103.64. The company’s stock had a trading volume of 586,663 shares, compared to its average volume of 479,142. The business’s 50-day moving average price is $101.75 and its 200-day moving average price is $100.73. The firm has a market cap of $2.63 billion, a PE ratio of 15.24, a P/E/G ratio of 0.85 and a beta of 1.35. InterDigital has a 52 week low of $67.68 and a 52 week high of $119.86. The company has a quick ratio of 1.33, a current ratio of 1.34 and a debt-to-equity ratio of 0.14.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. Equities 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. Investors of record on Wednesday, April 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Insider Activity at InterDigital

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