InterDigital (NASDAQ:IDCC) Updates Q4 2024 Earnings Guidance

by · The Markets Daily

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.

InterDigital Trading Up 10.1 %

InterDigital stock traded up $15.26 during midday trading on Friday, reaching $165.70. The stock had a trading volume of 868,138 shares, compared to its average volume of 426,509. 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 market cap of $4.16 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.95 and a beta of 1.38. The firm’s fifty day simple moving average is $142.84 and its two-hundred day simple moving average is $126.27.

InterDigital (NASDAQ:IDCC – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. The firm had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. InterDigital had a return on equity of 40.49% and a net margin of 36.69%. Equities analysts anticipate that InterDigital will post 9.06 EPS for the current fiscal year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given 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 yield of 1.09%. InterDigital’s dividend payout ratio is presently 19.23%.

Analyst Upgrades and Downgrades

IDCC has been the subject of several recent research reports. Roth Mkm increased their price objective on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th.

Read Our Latest Report on IDCC

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of InterDigital 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 transaction, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CTO Rajesh Pankaj sold 700 shares of the company’s 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 completion of the transaction, the chief technology officer now owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is owned by insiders.

InterDigital Company Profile

(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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