InterDigital (NASDAQ:IDCC - Get Free Report) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.420-5.700 for the period, compared to the consensus EPS 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.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. StockNews.com raised InterDigital from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Roth Mkm increased their target price on InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th.
View Our Latest Analysis on IDCC
InterDigital Stock Performance
Shares of NASDAQ:IDCC traded up $2.72 during trading hours on Thursday, hitting $150.44. The stock had a trading volume of 801,291 shares, compared to its average volume of 458,729. InterDigital has a 1-year low of $74.90 and a 1-year high of $164.32. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.97 and a beta of 1.39. The stock's fifty day simple moving average is $141.90 and its 200 day simple moving average is $125.41. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51.
InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $0.43 by $3.77. The company had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. Sell-side analysts anticipate that InterDigital will post 9.06 earnings per share for the current fiscal year.
InterDigital Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a $0.45 dividend. This is an increase from InterDigital's previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.20%. InterDigital's dividend payout ratio is currently 18.11%.
Insiders Place Their Bets
In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 7,639 shares of the company's stock, 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. In related news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares of the company's stock, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Derek K. Aberle sold 2,005 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the sale, the director now owns 7,639 shares in the company, valued at $1,026,681.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,205 shares of company stock valued at $716,218 in the last three months. Insiders own 2.30% of the company's stock.
About InterDigital
(
Get Free Report)
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.
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