InterDigital (NASDAQ:IDCC) Issues FY24 Earnings Guidance

InterDigital (NASDAQ:IDCC) issued an update on its FY24 earnings guidance on Thursday. The company provided EPS guidance of $7.45-8.76 for the period, compared to the consensus EPS estimate of $5.83. The company issued revenue guidance of $620-670 million, compared to the consensus revenue estimate of $634.73 million. InterDigital also updated its Q2 guidance to $0.70-0.80 EPS.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of InterDigital from a hold rating to a buy rating in a research report on Monday. Bank of America reissued an underperform rating and issued a $100.00 price target (down from $140.00) on shares of InterDigital in a research report on Monday, April 1st.

InterDigital Stock Up 6.2 %

IDCC traded up $6.11 during midday trading on Thursday, hitting $104.01. 265,644 shares of the company’s stock traded hands, compared to its average volume of 489,133. The company has a market cap of $2.64 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The stock’s fifty day simple moving average is $101.96 and its 200-day simple moving average is $100.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33. InterDigital has a one year low of $66.82 and a one year high of $119.86.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. The firm had revenue of $105.52 million for the quarter, compared to analyst estimates of $104.31 million. As a group, equities analysts anticipate that InterDigital will post 7.02 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.54%. InterDigital’s dividend payout ratio (DPR) is presently 21.33%.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the transaction, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the sale, the chief technology officer now owns 64,939 shares in the company, valued at $6,190,634.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the sale, the insider now owns 29,984 shares in the company, valued at approximately $2,871,567.68. The disclosure for this sale can be found here. Corporate insiders own 1.50% 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.