InterDigital (NASDAQ:IDCC) Issues FY24 Earnings Guidance

InterDigital (NASDAQ:IDCC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $7.45-8.76 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America reaffirmed an underperform rating and set a $100.00 price target (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com raised InterDigital from a hold rating to a buy rating in a research report on Monday, April 29th.

InterDigital Trading Up 0.8 %

Shares of NASDAQ:IDCC traded up $0.78 during trading on Friday, reaching $103.64. 586,663 shares of the stock were exchanged, compared to its average volume of 479,142. The firm’s 50-day moving average price is $101.75 and its 200 day moving average price is $100.73. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. InterDigital has a 12-month low of $67.68 and a 12-month high of $119.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.34.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The firm had revenue of $105.52 million for the quarter, compared to analysts’ expectations of $104.31 million. On average, sell-side analysts anticipate that InterDigital will post 7.02 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.54%. InterDigital’s dividend payout ratio (DPR) is 23.53%.

Insider Buying and Selling at InterDigital

In related news, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction dated 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 directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the transaction, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total value of $66,943.23. Following the sale, the insider now owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate 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.