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

InterDigital, Inc. (NASDAQ:IDCC) – Analysts at Zacks Research reduced their Q2 2024 earnings per share (EPS) estimates for InterDigital in a report released on Thursday, April 18th. Zacks Research analyst R. Department now forecasts that the Wireless communications provider will earn $0.81 per share 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.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data 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 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 analyst estimates of $104.31 million.

IDCC has been the topic of a number of other research reports. Bank of America reaffirmed an “underperform” rating and set a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th.

InterDigital Trading Up 1.0 %

Shares of IDCC stock opened at $96.63 on Monday. The business’s fifty day moving average price is $103.69 and its 200 day moving average price is $99.50. InterDigital has a 1-year low of $66.82 and a 1-year high of $119.86. The firm has a market capitalization of $2.46 billion, a PE ratio of 12.88, a P/E/G ratio of 0.78 and a beta of 1.34. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33.

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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.66%. The ex-dividend date is Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is 21.33%.

Insider Buying and Selling at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the sale, the chief technology officer now 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, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the sale, the chief technology officer now directly owns 64,939 shares in the company, valued at $6,190,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eeva K. Hakoranta sold 699 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of InterDigital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Riverview Trust Co purchased a new stake in shares of InterDigital in the first quarter valued at $31,000. Point72 Asset Management L.P. purchased a new position in InterDigital during the second quarter worth about $39,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in InterDigital during the third quarter worth about $68,000. Quadrant Capital Group LLC lifted 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 worth $107,000 after buying an additional 103 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in InterDigital by 12.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after buying an additional 114 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

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.