Q3 2016 Earnings Forecast for InterDigital Inc. (IDCC) Issued By Dougherty & Co
InterDigital Inc. (NASDAQ:IDCC) – Equities researchers at Dougherty & Co issued their Q3 2016 earnings per share estimates for shares of InterDigital in a research note issued to investors on Wednesday. Dougherty & Co analyst C. Anderson expects that the firm will post earnings of $2.93 per share for the quarter. Dougherty & Co has a “Neutral” rating on the stock. Dougherty & Co also issued estimates for InterDigital’s Q4 2016 earnings at $0.74 EPS, FY2016 earnings at $5.60 EPS, Q1 2017 earnings at $1.01 EPS, Q2 2017 earnings at $0.53 EPS, Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.74 EPS, FY2017 earnings at $2.72 EPS, Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $0.63 EPS, Q3 2018 earnings at $0.50 EPS and FY2018 earnings at $3.07 EPS.
Other equities analysts have also recently issued research reports about the company. B. Riley cut InterDigital from a “buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research note on Monday, September 26th. Zacks Investment Research raised InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 target price on the stock in a research note on Saturday, August 6th. Finally, TheStreet raised InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $78.33.
Shares of InterDigital (NASDAQ:IDCC) opened at 78.35 on Friday. InterDigital has a 52 week low of $41.01 and a 52 week high of $79.97. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 22.16 and a beta of 0.73. The company has a 50 day moving average of $74.39 and a 200-day moving average of $61.87.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.83. The company had revenue of $75.90 million for the quarter, compared to analyst estimates of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The business’s quarterly revenue was down 36.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be paid a $0.30 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, October 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. InterDigital’s payout ratio is presently 22.66%.
Several large investors have recently made changes to their positions in IDCC. Victory Capital Management Inc. boosted its stake in shares of InterDigital by 77.1% in the second quarter. Victory Capital Management Inc. now owns 1,801 shares of the company’s stock valued at $100,000 after buying an additional 784 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of InterDigital by 73.8% in the second quarter. LS Investment Advisors LLC now owns 2,084 shares of the company’s stock valued at $116,000 after buying an additional 885 shares during the last quarter. Smith Asset Management Group LP boosted its stake in shares of InterDigital by 8,400.0% in the second quarter. Smith Asset Management Group LP now owns 2,125 shares of the company’s stock valued at $118,000 after buying an additional 2,100 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of InterDigital by 9.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,163 shares of the company’s stock valued at $120,000 after buying an additional 188 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of InterDigital during the second quarter valued at approximately $189,000. 69.14% of the stock is owned by institutional investors and hedge funds.
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
Receive News & Ratings for InterDigital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.