InterDigital (IDCC) Scheduled to Post Earnings on Thursday

InterDigital (NASDAQ:IDCC) is scheduled to issue its quarterly earnings data 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.Persons that wish to register for the company’s earnings conference call can do so using this link.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $105.52 million for the quarter, compared to analyst estimates of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. On average, analysts expect InterDigital to post $7 EPS for the current fiscal year and $5 EPS for the next fiscal year.

InterDigital Stock Performance

NASDAQ IDCC opened at $99.66 on Thursday. InterDigital has a 1-year low of $66.82 and a 1-year high of $119.86. The company has a 50 day moving average of $103.50 and a 200-day moving average of $99.76. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.80 and a beta of 1.34.

InterDigital Dividend Announcement

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

Insider Buying and Selling

In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. Also, CTO Rajesh Pankaj sold 650 shares of the firm’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 transaction of $61,964.50. Following the completion of the transaction, the chief technology officer now directly owns 64,939 shares in the company, valued at $6,190,634.87. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IDCC shares. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Bank of America reiterated an “underperform” rating and set a $100.00 price target (down previously from $140.00) on shares of InterDigital in a research report on Monday, April 1st.

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.