Q4 2017 Earnings Forecast for InterDigital, Inc. (IDCC) Issued By B. Riley

InterDigital, Inc. (NASDAQ:IDCC) – Equities research analysts at B. Riley lowered their Q4 2017 earnings estimates for InterDigital in a research report issued to clients and investors on Tuesday. B. Riley analyst E. Wold now expects that the Wireless communications provider will earn $0.64 per share for the quarter, down from their prior forecast of $0.67. B. Riley has a “Buy” rating and a $100.00 price objective on the stock. B. Riley also issued estimates for InterDigital’s Q1 2018 earnings at $0.29 EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.47 EPS and FY2018 earnings at $1.44 EPS.

Several other research firms also recently weighed in on IDCC. Zacks Investment Research downgraded shares of InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 24th. ValuEngine upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Sidoti upgraded shares of InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $89.00.

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InterDigital (IDCC) opened at $74.20 on Friday. The firm has a market cap of $2,575.56, a PE ratio of 10.25 and a beta of 0.95. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.22 and a quick ratio of 3.22. InterDigital has a 12 month low of $67.55 and a 12 month high of $102.30.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.34. The business had revenue of $97.30 million during the quarter, compared to the consensus estimate of $94.13 million. InterDigital had a net margin of 42.94% and a return on equity of 32.77%. The firm’s quarterly revenue was down 53.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.99 earnings per share.

Institutional investors have recently modified their holdings of the business. Financial Architects Inc increased its position in InterDigital by 180.0% during the 2nd quarter. Financial Architects Inc now owns 1,400 shares of the Wireless communications provider’s stock valued at $108,000 after purchasing an additional 900 shares during the period. Riverhead Capital Management LLC increased its position in InterDigital by 74.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,397 shares of the Wireless communications provider’s stock valued at $108,000 after purchasing an additional 597 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in InterDigital during the 2nd quarter valued at $118,000. Victory Capital Management Inc. increased its position in InterDigital by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,616 shares of the Wireless communications provider’s stock valued at $125,000 after purchasing an additional 241 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in InterDigital by 107.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,182 shares of the Wireless communications provider’s stock valued at $160,000 after purchasing an additional 1,129 shares during the period. 74.76% of the stock is currently owned by institutional investors and hedge funds.

In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $75.00, for a total transaction of $37,500.00. Following the transaction, the executive vice president now directly owns 79,319 shares of the company’s stock, valued at approximately $5,948,925. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jannie K. Lau sold 2,561 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $72.31, for a total transaction of $185,185.91. Following the transaction, the executive vice president now directly owns 19,496 shares in the company, valued at $1,409,755.76. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

InterDigital announced that its Board of Directors has approved a share buyback plan on Thursday, September 14th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the Wireless communications provider to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, October 10th. This is an increase from InterDigital’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 1.89%. InterDigital’s dividend payout ratio (DPR) is 19.34%.

InterDigital Company Profile

InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.

Earnings History and Estimates for InterDigital (NASDAQ:IDCC)

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