InterDigital Wireless (NASDAQ:IDCC) announced its quarterly earnings results on Thursday. The Wireless communications provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.12, Briefing.com reports. InterDigital Wireless had a net margin of 9.56% and a return on equity of 3.15%. The firm had revenue of $75.61 million during the quarter, compared to the consensus estimate of $75.50 million. During the same period last year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis.
Shares of NASDAQ IDCC traded down $6.48 during trading on Friday, reaching $57.10. The company had a trading volume of 811,159 shares, compared to its average volume of 269,466. InterDigital Wireless has a 52 week low of $57.03 and a 52 week high of $83.65. The stock has a market cap of $2.02 billion, a PE ratio of 31.55, a PEG ratio of 7.12 and a beta of 0.98. The company has a current ratio of 3.87, a quick ratio of 1.95 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $65.00.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Tuesday, July 9th. InterDigital Wireless’s dividend payout ratio is presently 77.35%.
Several brokerages recently issued reports on IDCC. B. Riley reissued a “buy” rating and set a $80.00 price target (down from $90.00) on shares of InterDigital Wireless in a report on Friday. BidaskClub downgraded shares of InterDigital Wireless from a “sell” rating to a “strong sell” rating in a report on Saturday, June 15th. Finally, Zacks Investment Research downgraded shares of InterDigital Wireless from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. InterDigital Wireless has an average rating of “Hold” and an average price target of $80.00.
In other InterDigital Wireless news, Director Jean F. Rankin sold 680 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $64.84, for a total value of $44,091.20. Following the completion of the transaction, the director now directly owns 20,918 shares of the company’s stock, valued at $1,356,323.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William J. Merritt sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $65.02, for a total transaction of $975,300.00. Following the completion of the transaction, the insider now directly owns 176,065 shares of the company’s stock, valued at $11,447,746.30. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
About InterDigital Wireless
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides 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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