InterDigital, Inc. to Post Q2 2024 Earnings of $0.81 Per Share, Zacks Research Forecasts (NASDAQ:IDCC)

InterDigital, Inc. (NASDAQ:IDCC) – Analysts at Zacks Research lowered their Q2 2024 earnings estimates for InterDigital in a research report issued to clients and investors on Thursday, April 18th. Zacks Research analyst R. Department now expects that the Wireless communications provider will post earnings per share of $0.81 for the quarter, down from their prior forecast of $0.99. The consensus estimate for InterDigital’s current full-year earnings is $7.02 per share. Zacks Research also issued estimates for InterDigital’s Q3 2024 earnings at $1.23 EPS, Q4 2024 earnings at $2.04 EPS, FY2024 earnings at $7.23 EPS, Q3 2025 earnings at $1.23 EPS and FY2025 earnings at $4.96 EPS.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America restated 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

InterDigital stock opened at $97.90 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.50 billion, a PE ratio of 13.05, a P/E/G ratio of 0.79 and a beta of 1.34. InterDigital has a 12-month low of $66.82 and a 12-month high of $119.86. The business’s 50-day moving average price is $103.57 and its two-hundred day moving average price is $99.63.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The firm had revenue of $105.52 million for the quarter, compared to the consensus estimate of $104.31 million.

InterDigital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be given a $0.40 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.63%. InterDigital’s dividend payout ratio is presently 21.33%.

Insider Activity

In other news, insider Eeva K. Hakoranta sold 699 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction on 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 in the company, valued at $2,871,567.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction 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 of the company’s stock, valued at $6,190,634.87. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On InterDigital

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverview Trust Co acquired a new stake in InterDigital during the 1st quarter valued at approximately $31,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in InterDigital during the third quarter worth $68,000. Parkside Financial Bank & Trust lifted its holdings in InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after buying an additional 114 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in InterDigital by 12.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after buying an additional 143 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in InterDigital by 11.6% during the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock valued at $107,000 after acquiring an additional 103 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

About InterDigital

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.