InterDigital (NASDAQ:IDCC) Releases Q2 Earnings Guidance

InterDigital (NASDAQ:IDCC) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.70-0.80 for the period, compared to the consensus 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.

Analyst Ratings Changes

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

InterDigital Price Performance

Shares of NASDAQ IDCC traded up $0.78 during trading hours on Friday, reaching $103.64. 586,663 shares of the stock traded hands, compared to its average volume of 479,142. The company has a market capitalization of $2.63 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. The company has a quick ratio of 1.33, a current ratio of 1.34 and a debt-to-equity ratio of 0.14. InterDigital has a 52-week low of $67.68 and a 52-week high of $119.86. The company’s 50-day simple moving average is $101.75 and its two-hundred day simple moving average is $100.73.

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

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.54%. InterDigital’s dividend payout ratio (DPR) is currently 23.53%.

Insiders Place Their Bets

In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction that occurred 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 transaction, the insider now directly owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction that occurred 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 sale, 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 filing with the SEC, which is available through this link. Also, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction that occurred 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 sale, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

InterDigital Company Profile

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.