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.
ILLEGAL ACTIVITY WARNING: “Q4 2017 Earnings Forecast for InterDigital, Inc. (IDCC) Issued By B. Riley” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2017/11/19/q4-2017-earnings-forecast-for-interdigital-inc-idcc-issued-by-b-riley.html.
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.
Receive News & Ratings for InterDigital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.