Q3 2016 Earnings Forecast for InterDigital Inc. (IDCC) Issued By Dougherty & Co
InterDigital Inc. (NASDAQ:IDCC) – Equities researchers at Dougherty & Co issued their Q3 2016 earnings estimates for InterDigital in a research report issued to clients and investors on Wednesday. Dougherty & Co analyst C. Anderson forecasts that the brokerage will post earnings of $2.93 per share for the quarter. Dougherty & Co has a “Neutral” rating on the stock. Dougherty & Co also issued estimates for InterDigital’s Q4 2016 earnings at $0.74 EPS, FY2016 earnings at $5.60 EPS, Q1 2017 earnings at $1.01 EPS, Q2 2017 earnings at $0.53 EPS, Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.74 EPS, FY2017 earnings at $2.72 EPS, Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $0.63 EPS, Q3 2018 earnings at $0.50 EPS and FY2018 earnings at $3.07 EPS.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.31 by $0.83. The firm earned $75.90 million during the quarter, compared to the consensus estimate of $76.60 million. InterDigital had a return on equity of 20.08% and a net margin of 31.71%. The company’s quarterly revenue was down 36.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share.
Several other research firms also recently commented on IDCC. Barclays PLC reiterated an “equal weight” rating and issued a $80.00 price objective (up previously from $75.00) on shares of InterDigital in a report on Friday, September 23rd. B. Riley reissued a “neutral” rating and issued a $80.00 target price on shares of InterDigital in a research note on Saturday, October 1st. Zacks Investment Research raised InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 target price on the stock in a research note on Saturday, August 6th. Finally, TheStreet raised InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $78.33.
Shares of InterDigital (NASDAQ:IDCC) opened at 78.35 on Friday. InterDigital has a 52 week low of $41.01 and a 52 week high of $79.97. The stock has a market capitalization of $2.68 billion, a P/E ratio of 22.16 and a beta of 0.73. The stock has a 50 day moving average price of $74.39 and a 200 day moving average price of $61.87.
A number of hedge funds have recently bought and sold shares of IDCC. Aperio Group LLC purchased a new stake in InterDigital during the first quarter valued at $255,000. Nisa Investment Advisors L.L.C. boosted its stake in InterDigital by 7.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 5,900 shares of the company’s stock valued at $328,000 after buying an additional 400 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in InterDigital by 76.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 46,349 shares of the company’s stock valued at $2,579,000 after buying an additional 20,080 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in InterDigital by 4.0% in the first quarter. TIAA CREF Investment Management LLC now owns 147,922 shares of the company’s stock valued at $8,232,000 after buying an additional 5,702 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in InterDigital by 4.5% in the first quarter. BlackRock Inc. now owns 13,948 shares of the company’s stock valued at $776,000 after buying an additional 603 shares during the last quarter. 69.14% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.53%. This is a boost from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, October 7th. InterDigital’s payout ratio is presently 22.66%.
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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