InterDigital (NASDAQ:IDCC) Issues FY 2024 Earnings Guidance

InterDigital (NASDAQ:IDCC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 14.690-14.990 for the period, compared to the consensus EPS estimate of 7.870. The company issued revenue guidance of $855.0 million-$865.0 million, compared to the consensus revenue estimate of $721.7 million. InterDigital also updated its Q4 2024 guidance to 5.420-5.700 EPS.

Analysts Set New Price Targets

A number of analysts recently weighed in on IDCC shares. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Roth Mkm boosted their price target on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

InterDigital Price Performance

IDCC stock traded up $15.26 during trading on Friday, hitting $165.70. The stock had a trading volume of 868,138 shares, compared to its average volume of 426,509. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 0.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.51 and a current ratio of 1.62. The company’s 50 day moving average price is $142.84 and its two-hundred day moving average price is $126.27. InterDigital has a 1-year low of $76.82 and a 1-year high of $166.46.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. The firm had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. InterDigital had a net margin of 36.69% and a return on equity of 40.49%. On average, sell-side analysts forecast that InterDigital will post 9.06 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.09%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s payout ratio is currently 19.23%.

Insider Activity at InterDigital

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