Q2 2024 Earnings Forecast for InterDigital, Inc. (NASDAQ:IDCC) Issued By Zacks Research

InterDigital, Inc. (NASDAQ:IDCC) – Research analysts at Zacks Research decreased their Q2 2024 earnings estimates for shares of InterDigital in a research note issued on Thursday, April 18th. Zacks Research analyst R. Department now forecasts 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. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The firm had revenue of $105.52 million for the quarter, compared to analysts’ expectations of $104.31 million.

IDCC has been the subject of several other research reports. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America reiterated an “underperform” rating and set a $100.00 price target (down from $140.00) on shares of InterDigital in a report on Monday, April 1st.

InterDigital Price Performance

IDCC opened at $97.90 on Monday. 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 stock’s 50 day simple moving average is $103.57 and its 200 day simple moving average is $99.63. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.79 and a beta of 1.34. InterDigital has a 1 year low of $66.82 and a 1 year high of $119.86.

Institutional Trading of InterDigital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Riverwater Partners LLC grew its holdings in shares of InterDigital by 0.7% during the 4th quarter. Riverwater Partners LLC now owns 13,555 shares of the Wireless communications provider’s stock worth $1,471,000 after acquiring an additional 96 shares during the period. Quadrant Capital Group LLC grew its stake in InterDigital by 11.6% in the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock worth $107,000 after purchasing an additional 103 shares during the period. Parkside Financial Bank & Trust raised its holdings in InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after purchasing an additional 114 shares in the last quarter. AlphaMark Advisors LLC lifted its position in InterDigital by 4.3% during the fourth quarter. AlphaMark Advisors LLC now owns 3,038 shares of the Wireless communications provider’s stock valued at $330,000 after buying an additional 125 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in InterDigital by 12.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after buying an additional 143 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at InterDigital

In other news, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the transaction, the insider now directly owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 value of $66,943.23. Following the sale, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction on Friday, April 5th. The stock was 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 disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

InterDigital Announces Dividend

The firm 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 $0.40 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.60 annualized dividend and a dividend yield of 1.63%. InterDigital’s payout ratio is presently 21.33%.

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.