InterDigital, Inc. (NASDAQ:IDCC) to Post Q2 2024 Earnings of $0.81 Per Share, Zacks Research Forecasts

InterDigital, Inc. (NASDAQ:IDCC) – Analysts at Zacks Research lowered their Q2 2024 earnings estimates for InterDigital in a research report issued to clients and investors on Thursday, April 18th. Zacks Research analyst R. Department now expects that the Wireless communications provider will post earnings per share of $0.81 for the quarter, down from their prior forecast of $0.99. The consensus estimate for InterDigital’s current full-year earnings is $7.02 per share. Zacks Research also issued estimates for InterDigital’s Q3 2024 earnings at $1.23 EPS, Q4 2024 earnings at $2.04 EPS, FY2024 earnings at $7.23 EPS, Q3 2025 earnings at $1.23 EPS and FY2025 earnings at $4.96 EPS.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $105.52 million for the quarter, compared to analysts’ expectations of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%.

A number of other brokerages have also commented on IDCC. Bank of America reiterated an “underperform” rating and set a $100.00 price target (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th.

InterDigital Stock Performance

Shares of InterDigital stock opened at $98.93 on Monday. InterDigital has a fifty-two week low of $66.82 and a fifty-two week high of $119.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $2.52 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.79 and a beta of 1.34. The company’s 50 day moving average price is $103.50 and its two-hundred day moving average price is $99.76.

InterDigital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, April 9th. InterDigital’s dividend payout ratio is presently 21.33%.

Insider Buying and Selling

In related news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the transaction, the chief technology officer now owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the transaction, the chief technology officer now owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the sale, 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 owned by insiders.

Institutional Investors Weigh In On InterDigital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in InterDigital by 2.2% during the third quarter. Vanguard Group Inc. now owns 3,343,395 shares of the Wireless communications provider’s stock worth $268,274,000 after purchasing an additional 72,720 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in InterDigital by 220.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after purchasing an additional 792,868 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in InterDigital by 7.4% during the third quarter. Boston Trust Walden Corp now owns 666,935 shares of the Wireless communications provider’s stock worth $53,515,000 after purchasing an additional 46,181 shares during the last quarter. Shannon River Fund Management LLC boosted its holdings in InterDigital by 3.9% during the third quarter. Shannon River Fund Management LLC now owns 642,265 shares of the Wireless communications provider’s stock worth $51,535,000 after purchasing an additional 23,815 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in InterDigital by 8.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 374,348 shares of the Wireless communications provider’s stock worth $30,038,000 after purchasing an additional 28,176 shares during the last quarter. 99.83% of the stock is owned by institutional investors.

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.