InterDigital (NASDAQ:IDCC) posted its quarterly earnings data on Thursday. The Wireless communications provider reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $1.60, Yahoo Finance reports. The business had revenue of $205.30 million during the quarter, compared to analyst estimates of $191.42 million. InterDigital had a return on equity of 32.77% and a net margin of 42.94%. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same period last year, the company earned $3.85 EPS.
InterDigital (NASDAQ:IDCC) traded down $6.30 during trading hours on Friday, hitting $70.30. The stock had a trading volume of 1,145,900 shares, compared to its average volume of 327,879. The company has a market cap of $2,658.90, a price-to-earnings ratio of 10.23 and a beta of 0.94. InterDigital has a 1-year low of $67.55 and a 1-year high of $93.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.22 and a quick ratio of 3.22.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Tuesday, January 9th. InterDigital’s payout ratio is 19.34%.
Several equities research analysts have recently issued reports on IDCC shares. B. Riley reaffirmed a “buy” rating and issued a $100.00 price objective on shares of InterDigital in a research note on Wednesday, January 3rd. ValuEngine raised InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Zacks Investment Research raised InterDigital from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Wednesday, November 1st. Dougherty & Co raised InterDigital from a “neutral” rating to a “buy” rating in a research note on Friday. Finally, BidaskClub raised InterDigital from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $91.67.
In related news, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $76.50, for a total transaction of $38,250.00. Following the completion of the sale, the executive vice president now directly owns 78,881 shares of the company’s stock, valued at approximately $6,034,396.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James J. Nolan sold 5,020 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $75.00, for a total value of $376,500.00. Following the sale, the executive vice president now directly owns 49,063 shares of the company’s stock, valued at $3,679,725. The disclosure for this sale can be found here. Insiders sold a total of 6,020 shares of company stock valued at $453,000 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.
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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.
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