Q2 2024 EPS Estimates for InterDigital, Inc. (NASDAQ:IDCC) Lowered by Zacks Research

InterDigital, Inc. (NASDAQ:IDCC) – Analysts at Zacks Research cut their Q2 2024 earnings per share estimates for InterDigital in a research note issued on Thursday, April 18th. Zacks Research analyst R. Department now forecasts that the Wireless communications provider will post earnings of $0.81 per share for the quarter, down from their prior estimate 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 research analysts have also recently issued research reports about the company. Bank of America reiterated an “underperform” rating and issued a $100.00 price target (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th.

InterDigital Trading Up 1.1 %

NASDAQ:IDCC opened at $98.93 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33. InterDigital has a one year low of $66.82 and a one year high of $119.86. The business’s 50-day simple moving average is $103.50 and its 200 day simple moving average is $99.76. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.79 and a beta of 1.34.

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, topping the consensus estimate of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The company had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million.

Hedge Funds Weigh In On InterDigital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDCC. Ritholtz Wealth Management grew its holdings in InterDigital by 26.1% in the 3rd quarter. Ritholtz Wealth Management now owns 9,432 shares of the Wireless communications provider’s stock worth $757,000 after buying an additional 1,955 shares in the last quarter. Essex LLC bought a new position in InterDigital in the 3rd quarter worth approximately $307,000. 1900 Wealth Management LLC bought a new position in InterDigital in the 3rd quarter worth approximately $391,000. Boston Trust Walden Corp grew its holdings in InterDigital by 7.4% in the 3rd quarter. Boston Trust Walden Corp now owns 666,935 shares of the Wireless communications provider’s stock worth $53,515,000 after buying an additional 46,181 shares in the last quarter. Finally, Riverwater Partners LLC grew its holdings in InterDigital by 147.0% in the 3rd quarter. Riverwater Partners LLC now owns 13,459 shares of the Wireless communications provider’s stock worth $1,080,000 after buying an additional 8,011 shares in the last quarter. 99.83% of the stock is owned by institutional investors.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the transaction, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 $2,871,567.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of the company’s 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 transaction, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

InterDigital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, April 9th. InterDigital’s payout ratio is currently 21.33%.

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.