FY2017 EPS Estimates for InterDigital, Inc. (IDCC) Raised by Analyst
InterDigital, Inc. (NASDAQ:IDCC) – Stock analysts at Dougherty & Co increased their FY2017 earnings per share estimates for InterDigital in a research note issued to investors on Monday. Dougherty & Co analyst C. Anderson now expects that the Wireless communications provider will post earnings per share of $5.13 for the year, up from their previous forecast of $4.00. Dougherty & Co also issued estimates for InterDigital’s Q4 2017 earnings at $1.92 EPS.
A number of other analysts have also recently weighed in on the company. Zacks Investment Research raised InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Friday, August 18th. B. Riley reaffirmed a “buy” rating and set a $100.00 price objective on shares of InterDigital in a research report on Friday, October 27th. ValuEngine raised InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Finally, Sidoti raised InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. InterDigital currently has a consensus rating of “Hold” and a consensus price target of $89.00.
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Shares of InterDigital (IDCC) opened at $74.20 on Wednesday. The stock has a market capitalization of $2,582.53, a PE ratio of 10.28 and a beta of 0.95. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.22 and a quick ratio of 3.22. InterDigital has a 1 year low of $67.55 and a 1 year high of $102.30.
InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The firm had revenue of $97.30 million during the quarter, compared to analysts’ expectations of $94.13 million. InterDigital had a return on equity of 32.77% and a net margin of 42.94%. The business’s revenue was down 53.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.99 EPS.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of InterDigital by 0.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,796 shares of the Wireless communications provider’s stock valued at $216,000 after buying an additional 15 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of InterDigital by 0.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,760 shares of the Wireless communications provider’s stock valued at $461,000 after buying an additional 50 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of InterDigital by 1.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,062 shares of the Wireless communications provider’s stock valued at $391,000 after buying an additional 51 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of InterDigital by 1.0% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 5,969 shares of the Wireless communications provider’s stock valued at $332,000 after buying an additional 57 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of InterDigital by 0.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 13,113 shares of the Wireless communications provider’s stock valued at $1,014,000 after buying an additional 122 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.
In other InterDigital news, EVP Jannie K. Lau sold 2,561 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $72.31, for a total transaction of $185,185.91. Following the completion of the sale, the executive vice president now directly owns 19,496 shares of the company’s stock, valued at approximately $1,409,755.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $75.00, for a total value of $37,500.00. Following the sale, the executive vice president now directly owns 79,319 shares of the company’s stock, valued at $5,948,925. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.89%. This is a boost from InterDigital’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, October 10th. InterDigital’s dividend payout ratio (DPR) is presently 19.34%.
InterDigital announced that its board has approved a stock repurchase plan on Thursday, September 14th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the Wireless communications provider to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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