Analysts Offer Predictions for InterDigital Inc.’s Q3 2016 Earnings (IDCC)
InterDigital Inc. (NASDAQ:IDCC) – Stock analysts at Dougherty & Co issued their Q3 2016 earnings per share estimates for InterDigital in a research note issued to investors on Wednesday. Dougherty & Co analyst C. Anderson expects that the firm will post earnings per share of $2.93 for the quarter. Dougherty & Co currently has a “Neutral” rating on the stock. Dougherty & Co also issued estimates for InterDigital’s Q4 2016 earnings at $0.74 EPS, FY2016 earnings at $5.60 EPS, Q1 2017 earnings at $1.01 EPS, Q2 2017 earnings at $0.53 EPS, Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.74 EPS, FY2017 earnings at $2.72 EPS, Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $0.63 EPS, Q3 2018 earnings at $0.50 EPS and FY2018 earnings at $3.07 EPS.
InterDigital (NASDAQ:IDCC) last announced its earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.31 by $0.83. The business earned $75.90 million during the quarter, compared to the consensus estimate of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. InterDigital’s revenue was down 36.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS.
Several other research firms also recently weighed in on IDCC. Barclays PLC restated an “equal weight” rating and set a $80.00 price objective (up previously from $75.00) on shares of InterDigital in a report on Friday, September 23rd. B. Riley restated a “neutral” rating and set a $80.00 price objective on shares of InterDigital in a report on Saturday, October 1st. Zacks Investment Research upgraded shares of InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 price objective on the stock in a report on Saturday, August 6th. Finally, TheStreet upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. InterDigital currently has a consensus rating of “Buy” and a consensus price target of $78.33.
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Shares of InterDigital (NASDAQ:IDCC) traded down 0.872% during mid-day trading on Friday, hitting $77.855. 83,569 shares of the company traded hands. InterDigital has a one year low of $41.01 and a one year high of $79.97. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 22.024 and a beta of 0.73. The firm has a 50-day moving average of $74.12 and a 200-day moving average of $61.69.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. This is an increase from InterDigital’s previous quarterly dividend of $0.20. InterDigital’s dividend payout ratio is currently 22.66%.
Several hedge funds have recently made changes to their positions in IDCC. Jacobs Levy Equity Management Inc. purchased a new stake in shares of InterDigital during the first quarter valued at approximately $779,000. Renaissance Technologies LLC increased its stake in shares of InterDigital by 48.0% in the first quarter. Renaissance Technologies LLC now owns 223,693 shares of the company’s stock valued at $12,449,000 after buying an additional 72,500 shares in the last quarter. Hancock Holding Co. increased its stake in shares of InterDigital by 14.2% in the first quarter. Hancock Holding Co. now owns 15,396 shares of the company’s stock valued at $857,000 after buying an additional 1,915 shares in the last quarter. UBS Group AG increased its stake in shares of InterDigital by 70.5% in the first quarter. UBS Group AG now owns 32,803 shares of the company’s stock valued at $1,826,000 after buying an additional 13,566 shares in the last quarter. Finally, State Street Corp increased its stake in shares of InterDigital by 0.7% in the first quarter. State Street Corp now owns 1,090,975 shares of the company’s stock valued at $60,710,000 after buying an additional 7,093 shares in the last quarter. Institutional investors own 69.14% of the company’s stock.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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