Analysts forecast that InterDigital Wireless Inc (NASDAQ:IDCC) will report sales of $74.90 million for the current quarter, according to Zacks. Two analysts have provided estimates for InterDigital Wireless’ earnings, with estimates ranging from $74.50 million to $75.30 million. InterDigital Wireless posted sales of $69.56 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The business is scheduled to issue its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that InterDigital Wireless will report full-year sales of $300.70 million for the current fiscal year, with estimates ranging from $295.20 million to $306.20 million. For the next financial year, analysts expect that the business will report sales of $335.45 million, with estimates ranging from $315.20 million to $355.70 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for InterDigital Wireless.

InterDigital Wireless (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). InterDigital Wireless had a net margin of 10.79% and a return on equity of 3.27%. The company had revenue of $68.63 million for the quarter, compared to analysts’ expectations of $70.19 million. During the same period in the previous year, the firm earned $1.29 earnings per share. The firm’s revenue for the quarter was down 21.5% on a year-over-year basis.

Several analysts recently issued reports on IDCC shares. Zacks Investment Research upgraded shares of InterDigital Wireless from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Tuesday, May 7th. BidaskClub lowered shares of InterDigital Wireless from a “sell” rating to a “strong sell” rating in a research report on Friday, April 26th. B. Riley set a $90.00 price target on shares of InterDigital Wireless and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Finally, TheStreet lowered shares of InterDigital Wireless from a “b” rating to a “c” rating in a research report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $91.00.

In related news, insider William J. Merritt sold 15,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $65.02, for a total transaction of $975,300.00. Following the completion of the transaction, the insider now owns 176,065 shares in the company, valued at $11,447,746.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jean F. Rankin sold 680 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $64.84, for a total transaction of $44,091.20. Following the transaction, the director now owns 20,918 shares of the company’s stock, valued at approximately $1,356,323.12. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its stake in InterDigital Wireless by 40.6% during the first quarter. Royce & Associates LP now owns 700 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 202 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of InterDigital Wireless in the fourth quarter valued at $79,000. Penserra Capital Management LLC purchased a new stake in shares of InterDigital Wireless in the first quarter valued at $83,000. Ffcm LLC raised its stake in shares of InterDigital Wireless by 235.0% in the fourth quarter. Ffcm LLC now owns 1,953 shares of the Wireless communications provider’s stock valued at $130,000 after acquiring an additional 1,370 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of InterDigital Wireless by 22.0% in the fourth quarter. Bank of Montreal Can now owns 3,023 shares of the Wireless communications provider’s stock valued at $201,000 after acquiring an additional 546 shares during the period. 74.34% of the stock is currently owned by institutional investors.

Shares of IDCC traded down $0.31 during mid-day trading on Wednesday, hitting $63.64. 9,713 shares of the company traded hands, compared to its average volume of 444,688. The business has a 50-day moving average price of $66.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.03 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 6.99 and a beta of 1.09. InterDigital Wireless has a 1 year low of $62.34 and a 1 year high of $85.85.

About InterDigital Wireless

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks.

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Earnings History and Estimates for InterDigital Wireless (NASDAQ:IDCC)

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