InterDigital (NASDAQ:IDCC) Releases FY 2024 Earnings Guidance

InterDigital (NASDAQ:IDCCGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 14.690-14.990 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IDCC. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Roth Mkm lifted their price target on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

Check Out Our Latest Research Report on InterDigital

InterDigital Trading Down 1.2 %

InterDigital stock traded down $1.75 during midday trading on Thursday, reaching $145.97. The stock had a trading volume of 226,278 shares, compared to its average volume of 456,004. The firm’s fifty day simple moving average is $141.90 and its two-hundred day simple moving average is $125.41. InterDigital has a twelve month low of $74.90 and a twelve month high of $164.32. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 0.97 and a beta of 1.39.

InterDigital (NASDAQ:IDCCGet Free Report) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The firm had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. Equities analysts anticipate that InterDigital will post 9.06 EPS for the current fiscal year.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a $0.45 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.23%. InterDigital’s dividend payout ratio (DPR) is currently 26.47%.

Insider Buying and Selling

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the sale, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the sale, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,205 shares of company stock valued at $716,218. Company insiders own 2.30% of the company’s stock.

InterDigital Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for InterDigital (NASDAQ:IDCC)

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