InterDigital (NASDAQ:IDCC) Issues FY 2024 Earnings Guidance

InterDigital (NASDAQ:IDCC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 9.700-10.950 for the period, compared to the consensus EPS estimate of 5.480. The company issued revenue guidance of $690.0 million-$740.0 million, compared to the consensus revenue estimate of $638.7 million. InterDigital also updated its FY24 guidance to $9.70-$10.95 EPS.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com lowered shares of InterDigital from a buy rating to a hold rating in a research note on Tuesday, May 7th. Jefferies Financial Group reissued a hold rating and set a $100.00 target price (down from $106.00) on shares of InterDigital in a research note on Monday, May 13th.

InterDigital Stock Up 8.3 %

InterDigital stock traded up $10.14 during trading hours on Thursday, hitting $132.90. The company had a trading volume of 388,106 shares, compared to its average volume of 466,812. The firm has a market capitalization of $3.35 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.05 and a beta of 1.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s fifty day moving average is $117.83 and its 200-day moving average is $108.88. InterDigital has a fifty-two week low of $74.65 and a fifty-two week high of $133.54.

InterDigital (NASDAQ:IDCC) last posted 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. The company had revenue of $263.54 million during the quarter, compared to the consensus estimate of $250.15 million. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. On average, research analysts forecast that InterDigital will post 6.64 earnings per share for the current year.

InterDigital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Wednesday, July 10th. InterDigital’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling

In related news, Director John D. Jr. Markley sold 750 shares of the company’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 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 is available through this link. In other InterDigital news, Director John D. Jr. Markley sold 750 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the sale, the director now directly owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the sale, the chief technology officer now directly owns 64,517 shares of the company’s stock, valued at $6,701,380.79. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

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.