Brokers Issue Forecasts for InterDigital, Inc.’s FY2024 Earnings (NASDAQ:IDCC)

InterDigital, Inc. (NASDAQ:IDCC) – Stock analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of InterDigital in a research report issued to clients and investors on Monday, October 14th. Zacks Research analyst R. Department now forecasts that the Wireless communications provider will post earnings per share of $9.16 for the year, up from their previous estimate of $9.08. The consensus estimate for InterDigital’s current full-year earnings is $9.04 per share. Zacks Research also issued estimates for InterDigital’s Q4 2024 earnings at $1.11 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $0.79 EPS, Q3 2025 earnings at $0.78 EPS, Q4 2025 earnings at $1.18 EPS, FY2025 earnings at $3.79 EPS, Q1 2026 earnings at $0.98 EPS, Q2 2026 earnings at $0.81 EPS and FY2026 earnings at $4.25 EPS.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The business had revenue of $223.49 million during the quarter, compared to analysts’ expectations of $95.63 million.

Several other brokerages have also weighed in on IDCC. Roth Mkm raised their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a research report on Tuesday.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $156.82 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. InterDigital has a fifty-two week low of $74.65 and a fifty-two week high of $157.15. The firm has a market capitalization of $3.96 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 0.94 and a beta of 1.39. The stock’s 50-day simple moving average is $139.20 and its 200-day simple moving average is $121.63.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.45 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 1.15%. InterDigital’s payout ratio is 26.47%.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the transaction, the director now directly owns 7,639 shares in the company, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is currently owned by insiders.

Institutional Trading of InterDigital

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in InterDigital by 0.5% during the first quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock worth $344,370,000 after purchasing an additional 17,238 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in InterDigital by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider’s stock worth $127,392,000 after purchasing an additional 10,532 shares in the last quarter. Pacer Advisors Inc. boosted its position in InterDigital by 51,337.0% during the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after purchasing an additional 741,820 shares in the last quarter. Reinhart Partners LLC. purchased a new stake in InterDigital during the third quarter worth $27,762,000. Finally, Principal Financial Group Inc. boosted its position in InterDigital by 1.2% during the first quarter. Principal Financial Group Inc. now owns 151,173 shares of the Wireless communications provider’s stock worth $16,094,000 after purchasing an additional 1,758 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

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.