Q3 2024 Earnings Forecast for InterDigital, Inc. Issued By Zacks Research (NASDAQ:IDCC)

InterDigital, Inc. (NASDAQ:IDCC) – Research analysts at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for shares of InterDigital in a research report issued on Monday, June 24th. Zacks Research analyst R. Department now forecasts that the Wireless communications provider will post earnings of $0.92 per share for the quarter, up from their previous forecast of $0.91. The consensus estimate for InterDigital’s current full-year earnings is $6.64 per share. Zacks Research also issued estimates for InterDigital’s FY2024 earnings at $6.79 EPS, Q4 2025 earnings at $1.25 EPS, FY2025 earnings at $4.04 EPS and FY2026 earnings at $4.82 EPS.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.16 by $0.06. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The business had revenue of $263.54 million during the quarter, compared to analysts’ expectations of $250.15 million.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group restated a “hold” rating and set a $100.00 target price (down from $106.00) on shares of InterDigital in a report on Monday, May 13th. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Bank of America reiterated an “underperform” rating and set a $100.00 price target (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

InterDigital Stock Performance

IDCC opened at $115.63 on Wednesday. InterDigital has a 52-week low of $74.65 and a 52-week high of $119.86. The firm has a market capitalization of $2.92 billion, a PE ratio of 17.00, a PEG ratio of 1.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34. The business’s 50-day simple moving average is $109.08 and its 200 day simple moving average is $106.57.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.60 annualized dividend and a yield of 1.38%. InterDigital’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director John D. Jr. Markley sold 750 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total value of $86,460.00. Following the transaction, the director now directly owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other InterDigital news, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total transaction of $86,460.00. Following the completion of the sale, the director now owns 12,202 shares in the company, valued at approximately $1,406,646.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the transaction, the chief technology officer now directly owns 64,939 shares in the company, valued at $6,190,634.87. The disclosure for this sale can be found here. Insiders have sold a total of 2,749 shares of company stock valued at $282,883 in the last three months. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of InterDigital

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

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.