Dougherty & Co Brokers Lift Earnings Estimates for InterDigital, Inc. (IDCC)
InterDigital, Inc. (NASDAQ:IDCC) – Research analysts at Dougherty & Co boosted their Q3 2017 EPS estimates for InterDigital in a report released on Thursday. Dougherty & Co analyst C. Anderson now expects that the Wireless communications provider will earn $0.74 per share for the quarter, up from their prior forecast of $0.60. Dougherty & Co also issued estimates for InterDigital’s FY2017 earnings at $3.82 EPS.
Other analysts have also issued reports about the stock. B. Riley restated a “buy” rating and issued a $100.00 price objective on shares of InterDigital in a report on Tuesday, June 13th. ValuEngine lowered shares of InterDigital from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Sidoti upgraded shares of InterDigital from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research upgraded shares of InterDigital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $92.50.
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Shares of InterDigital (NASDAQ IDCC) opened at 69.15 on Friday. The stock has a market cap of $2.40 billion, a P/E ratio of 7.54 and a beta of 1.00. The company’s 50-day moving average is $75.04 and its 200-day moving average is $83.52. InterDigital has a 1-year low of $67.05 and a 1-year high of $102.30.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.05. The company had revenue of $135.78 million for the quarter, compared to the consensus estimate of $133.69 million. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. InterDigital’s revenue was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share.
A number of institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its position in shares of InterDigital by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,796 shares of the Wireless communications provider’s stock worth $216,000 after buying an additional 15 shares during the period. Tyers Asset Management LLC increased its position in shares of InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock worth $101,000 after buying an additional 32 shares during the period. Elkfork Partners LLC increased its position in shares of InterDigital by 2.8% in the first quarter. Elkfork Partners LLC now owns 1,606 shares of the Wireless communications provider’s stock worth $139,000 after buying an additional 44 shares during the period. Nisa Investment Advisors LLC increased its position in shares of InterDigital by 0.9% in the second quarter. Nisa Investment Advisors LLC now owns 5,760 shares of the Wireless communications provider’s stock worth $461,000 after buying an additional 50 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of InterDigital by 1.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,062 shares of the Wireless communications provider’s stock worth $391,000 after buying an additional 51 shares during the period. 68.49% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP James J. Nolan sold 2,294 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $71.30, for a total value of $163,562.20. Following the completion of the transaction, the executive vice president now directly owns 54,042 shares of the company’s stock, valued at $3,853,194.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey K. Belk sold 800 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $84.39, for a total value of $67,512.00. Following the completion of the transaction, the director now directly owns 17,801 shares of the company’s stock, valued at $1,502,226.39. The disclosure for this sale can be found here. Insiders sold 3,594 shares of company stock valued at $270,649 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Monday, July 10th. InterDigital’s dividend payout ratio (DPR) is 13.00%.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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