InterDigital (NASDAQ:IDCC) Updates FY 2024 Earnings Guidance

InterDigital (NASDAQ:IDCC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 14.690-14.990 for the period, compared to the consensus earnings per share estimate of 7.870. The company issued revenue guidance of $855.0 million-$865.0 million, compared to the consensus revenue estimate of $721.7 million. InterDigital also updated its Q4 2024 guidance to 5.420-5.700 EPS.

InterDigital Price Performance

Shares of NASDAQ IDCC traded up $15.26 during mid-day trading on Friday, hitting $165.70. 868,138 shares of the stock traded hands, compared to its average volume of 426,509. The company has a market cap of $4.16 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 0.95 and a beta of 1.38. InterDigital has a twelve month low of $76.82 and a twelve month high of $166.46. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 1.51. The firm has a 50 day simple moving average of $142.84 and a two-hundred day simple moving average of $126.27.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. The firm had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. InterDigital had a net margin of 36.69% and a return on equity of 40.49%. As a group, equities research analysts forecast that InterDigital will post 9.06 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a $0.45 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.09%. InterDigital’s payout ratio is currently 19.23%.

Wall Street Analysts Forecast Growth

IDCC has been the topic of several recent research reports. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Roth Mkm boosted their target price on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at approximately $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director John A. Kritzmacher sold 2,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the sale, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction dated 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 approximately $7,850,615.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,205 shares of company stock worth $716,218. Corporate insiders own 2.30% 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.