InterDigital, Inc. (NASDAQ:IDCC) – B. Riley lowered their Q1 2019 EPS estimates for InterDigital in a research note issued on Monday, October 29th. B. Riley analyst E. Wold now forecasts that the Wireless communications provider will post earnings per share of $0.18 for the quarter, down from their previous estimate of $0.38. B. Riley also issued estimates for InterDigital’s Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.59 EPS, FY2019 earnings at $1.44 EPS and FY2020 earnings at $2.43 EPS.
Several other analysts have also issued reports on IDCC. ValuEngine upgraded InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. BidaskClub lowered InterDigital from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. National Securities initiated coverage on InterDigital in a report on Monday, July 23rd. They set a “buy” rating and a $103.00 price objective for the company. Zacks Investment Research lowered InterDigital from a “hold” rating to a “strong sell” rating in a report on Monday, August 6th. Finally, TheStreet lowered InterDigital from a “b-” rating to a “c+” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $94.40.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 2nd. The Wireless communications provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.08. InterDigital had a return on equity of 19.85% and a net margin of 27.99%. The business had revenue of $69.56 million during the quarter, compared to analyst estimates of $64.39 million. During the same period last year, the company earned $1.46 earnings per share. InterDigital’s quarterly revenue was down 48.8% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in InterDigital by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,041,319 shares of the Wireless communications provider’s stock valued at $84,243,000 after buying an additional 20,284 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in InterDigital by 29.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 38,962 shares of the Wireless communications provider’s stock valued at $3,152,000 after buying an additional 8,961 shares in the last quarter. SG Americas Securities LLC raised its holdings in InterDigital by 145.7% during the second quarter. SG Americas Securities LLC now owns 28,576 shares of the Wireless communications provider’s stock valued at $2,312,000 after buying an additional 16,945 shares in the last quarter. Summit Global Investments acquired a new stake in shares of InterDigital in the second quarter valued at about $655,000. Finally, Arizona State Retirement System grew its position in shares of InterDigital by 3.2% in the second quarter. Arizona State Retirement System now owns 24,123 shares of the Wireless communications provider’s stock valued at $1,952,000 after purchasing an additional 739 shares during the last quarter. Institutional investors own 74.39% of the company’s stock.
In other InterDigital news, EVP James J. Nolan sold 5,093 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $79.82, for a total transaction of $406,523.26. Following the transaction, the executive vice president now directly owns 39,560 shares in the company, valued at $3,157,679.20. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Wednesday, October 10th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, October 9th. This represents a $1.40 annualized dividend and a yield of 1.99%. InterDigital’s dividend payout ratio (DPR) is currently 23.10%.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.
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