InterDigital, Inc. (NASDAQ:IDCC) – Investment analysts at B. Riley reduced their Q4 2018 earnings per share (EPS) estimates for InterDigital in a report released on Friday, November 2nd. B. Riley analyst E. Wold now anticipates that the Wireless communications provider will earn $0.23 per share for the quarter, down from their previous forecast of $0.29. B. Riley also issued estimates for InterDigital’s Q4 2019 earnings at $0.52 EPS, Q1 2020 earnings at $0.44 EPS, Q2 2020 earnings at $0.50 EPS, Q3 2020 earnings at $0.79 EPS and FY2020 earnings at $2.50 EPS.
InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, November 1st. The Wireless communications provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.36. The firm had revenue of $75.08 million during the quarter, compared to the consensus estimate of $72.59 million. InterDigital had a return on equity of 17.50% and a net margin of 26.19%. The company’s revenue was down 22.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 EPS.
A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded InterDigital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 3rd. BidaskClub downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. National Securities started coverage on InterDigital in a research report on Monday, July 23rd. They set a “buy” rating and a $103.00 target price for the company. ValuEngine downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, TheStreet downgraded InterDigital from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. InterDigital currently has an average rating of “Hold” and a consensus price target of $94.40.
NASDAQ:IDCC opened at $77.23 on Monday. The firm has a market cap of $2.59 billion, a PE ratio of 12.74, a P/E/G ratio of 2.98 and a beta of 1.06. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.31. InterDigital has a fifty-two week low of $68.22 and a fifty-two week high of $85.85.
Several hedge funds have recently made changes to their positions in IDCC. Sei Investments Co. lifted its position in shares of InterDigital by 3,235.1% during the 1st quarter. Sei Investments Co. now owns 1,901 shares of the Wireless communications provider’s stock worth $140,000 after buying an additional 1,844 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of InterDigital by 79.4% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,740 shares of the Wireless communications provider’s stock worth $128,000 after buying an additional 770 shares during the last quarter. Legal & General Group Plc lifted its position in shares of InterDigital by 10.0% during the 1st quarter. Legal & General Group Plc now owns 33,848 shares of the Wireless communications provider’s stock worth $2,491,000 after buying an additional 3,073 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of InterDigital by 53.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,430 shares of the Wireless communications provider’s stock worth $400,000 after buying an additional 1,900 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of InterDigital by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 152,941 shares of the Wireless communications provider’s stock worth $11,256,000 after buying an additional 3,075 shares during the last quarter. Institutional investors and hedge funds own 74.13% of the company’s stock.
In related news, EVP James J. Nolan sold 5,093 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $79.82, for a total transaction of $406,523.26. Following the completion of the sale, the executive vice president now directly owns 39,560 shares in the company, valued at approximately $3,157,679.20. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Investors of record on Wednesday, October 10th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $1.40 annualized dividend and a dividend yield of 1.81%. InterDigital’s dividend payout ratio is currently 23.10%.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.
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