InterDigital, Inc. (NASDAQ:IDCC) – Equities research analysts at B. Riley dropped their Q4 2017 earnings estimates for shares of InterDigital in a report issued on Tuesday, according to Zacks Investment Research. B. Riley analyst E. Wold now expects that the Wireless communications provider will post earnings per share of $0.64 for the quarter, down from their prior estimate of $0.67. B. Riley currently has a “Buy” rating and a $100.00 target price 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.
IDCC has been the subject of a number of other research reports. Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Friday, August 18th. ValuEngine raised shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Finally, Sidoti raised 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 given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $89.00.
InterDigital (NASDAQ:IDCC) traded up $3.30 during trading hours on Friday, reaching $77.45. 495,625 shares of the company’s stock were exchanged, compared to its average volume of 331,863. The firm has a market cap of $2,690.00, a P/E ratio of 10.24 and a beta of 0.97. 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 twelve month low of $67.55 and a twelve month high of $102.30.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.34. The company had revenue of $97.30 million during the quarter, compared to the consensus estimate of $94.13 million. InterDigital had a return on equity of 32.77% and a net margin of 42.94%. The firm’s revenue was down 53.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.99 earnings per share.
InterDigital declared that its Board of Directors has initiated a share repurchase program on Thursday, September 14th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the Wireless communications provider to purchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, EVP Jannie K. Lau sold 2,561 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 19,496 shares of the company’s stock, valued at approximately $1,409,755.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the sale, the executive vice president now directly owns 79,319 shares of the company’s stock, valued at approximately $5,948,925. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,081 shares of company stock valued at $599,186. Insiders own 1.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of InterDigital by 0.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,796 shares of the Wireless communications provider’s stock worth $216,000 after purchasing an additional 15 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of InterDigital by 0.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,760 shares of the Wireless communications provider’s stock worth $461,000 after purchasing an additional 50 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of InterDigital by 1.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,062 shares of the Wireless communications provider’s stock worth $391,000 after purchasing an additional 51 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of InterDigital by 1.0% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 5,969 shares of the Wireless communications provider’s stock worth $332,000 after purchasing an additional 57 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of InterDigital by 0.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 13,113 shares of the Wireless communications provider’s stock worth $1,014,000 after purchasing an additional 122 shares in the last quarter. 72.92% of the stock is owned by institutional investors.
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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.
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