InterDigital (IDCC) Set to Announce Earnings on Thursday

InterDigital (NASDAQ:IDCC) is scheduled to announce its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $3.16 per share for the quarter. InterDigital has set its Q1 guidance at $2.40-2.95 EPS and its FY24 guidance at $4.95-6.15 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

InterDigital (NASDAQ:IDCC) last issued 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 38.95% and a return on equity of 37.77%. The firm had revenue of $105.52 million during the quarter, compared to analysts’ expectations of $104.31 million. On average, analysts expect InterDigital to post $7 EPS for the current fiscal year and $5 EPS for the next fiscal year.

InterDigital Trading Up 0.7 %

Shares of InterDigital stock opened at $99.66 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $2.54 billion, a P/E ratio of 13.29, a PEG ratio of 0.80 and a beta of 1.34. InterDigital has a 1 year low of $66.82 and a 1 year high of $119.86. The company’s fifty day moving average is $103.50 and its two-hundred day moving average is $99.76.

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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital’s dividend payout ratio is currently 21.33%.

Analysts Set New Price Targets

Several research firms have commented on IDCC. Bank of America reaffirmed an “underperform” rating and set a $100.00 price objective (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th.

Insider Transactions at InterDigital

In related news, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were 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 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 available through the SEC website. In other news, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,871,567.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the sale, the chief technology officer now owns 64,939 shares in the company, valued at $6,190,634.87. The disclosure for this sale can be found here. Company 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.