InterDigital (NASDAQ:IDCC) Issues Q4 2024 Earnings Guidance

InterDigital (NASDAQ:IDCC) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.420-5.700 for the period, compared to the consensus estimate of 0.870. The company issued revenue guidance of $239.0 million-$249.0 million, compared to the consensus revenue estimate of $138.7 million. InterDigital also updated its FY 2024 guidance to 14.690-14.990 EPS.

InterDigital Stock Up 10.1 %

Shares of InterDigital stock traded up $15.26 during midday trading on Friday, hitting $165.70. The company had a trading volume of 868,138 shares, compared to its average volume of 426,509. InterDigital has a 52-week low of $76.82 and a 52-week high of $166.46. 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 stock has a market capitalization of $4.16 billion, a P/E ratio of 17.70, a P/E/G ratio of 0.95 and a beta of 1.38. The company has a 50 day moving average of $142.84 and a 200 day moving average of $126.27.

InterDigital (NASDAQ:IDCC) last released its earnings results 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. The firm had revenue of $223.49 million for the quarter, compared to analysts’ expectations of $95.63 million. InterDigital had a return on equity of 40.49% and a net margin of 36.69%. On average, equities analysts predict that InterDigital will post 9.06 earnings per share 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 given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.09%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s dividend payout ratio is 19.23%.

Analysts Set New Price Targets

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

Insider Buying and Selling at InterDigital

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the firm’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 transaction, the director now directly owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Derek K. Aberle sold 2,005 shares of the 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 transaction, the director now owns 7,639 shares in the company, valued at $1,026,681.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Kritzmacher sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the transaction, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,205 shares of company stock worth $716,218. Insiders own 2.30% of the company’s stock.

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.