InterDigital (NASDAQ:IDCC) Releases Q2 Earnings Guidance

InterDigital (NASDAQ:IDCC) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.70-0.80 for the period, compared to the consensus EPS estimate of $0.56. The company issued revenue guidance of $93-97 million, compared to the consensus revenue estimate of $107.89 million. InterDigital also updated its FY24 guidance to $7.45-8.76 EPS.

InterDigital Trading Up 0.8 %

NASDAQ IDCC traded up $0.78 on Friday, hitting $103.64. 586,663 shares of the stock were exchanged, compared to its average volume of 479,142. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.34. InterDigital has a 52-week low of $67.68 and a 52-week high of $119.86. The firm has a market capitalization of $2.63 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.85 and a beta of 1.35. The stock has a fifty day moving average price of $101.75 and a two-hundred day moving average price of $100.73.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The firm had revenue of $105.52 million during the quarter, compared to analysts’ expectations of $104.31 million. Research analysts forecast that InterDigital will post 7.02 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital’s payout ratio is currently 23.53%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Bank of America reiterated an underperform rating and set a $100.00 target price (down from $140.00) on shares of InterDigital in a research report on Monday, April 1st. StockNews.com upgraded shares of InterDigital from a hold rating to a buy rating in a report on Monday, April 29th.

Insiders Place Their Bets

In related news, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the sale, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the transaction, the chief technology officer now directly owns 64,939 shares in the company, valued at approximately $6,190,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the transaction, the insider now directly owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.