Analysts Set Expectations for InterDigital, Inc.’s Q4 2017 Earnings (IDCC)
InterDigital, Inc. (NASDAQ:IDCC) – Equities research analysts at Dougherty & Co issued their Q4 2017 earnings per share (EPS) estimates for InterDigital in a note issued to investors on Monday. Dougherty & Co analyst C. Anderson anticipates that the Wireless communications provider will post earnings of $0.78 per share for the quarter. Dougherty & Co also issued estimates for InterDigital’s FY2018 earnings at $1.36 EPS.
A number of other equities analysts have also weighed in on IDCC. Zacks Investment Research raised InterDigital from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Wednesday. B. Riley reaffirmed a “buy” rating and set a $100.00 target price on shares of InterDigital in a research report on Monday, July 24th. BidaskClub lowered InterDigital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Sidoti raised InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, ValuEngine lowered InterDigital from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $89.00.
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InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The business had revenue of $97.30 million for the quarter, compared to the consensus estimate of $94.13 million. InterDigital had a net margin of 42.94% and a return on equity of 32.77%. InterDigital’s revenue for the quarter was down 53.3% on a year-over-year basis. During the same period last year, the company posted $2.99 EPS.
InterDigital declared that its Board of Directors has approved a stock repurchase program on Thursday, September 14th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Tuesday, October 10th. This is an increase from InterDigital’s previous quarterly dividend of $0.30. InterDigital’s dividend payout ratio is 19.34%.
In other InterDigital news, EVP Jannie K. Lau sold 2,561 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $72.31, for a total value of $185,185.91. Following the completion of the transaction, the executive vice president now owns 19,496 shares in the company, valued at approximately $1,409,755.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $75.00, for a total value of $37,500.00. Following the completion of the transaction, the executive vice president now owns 79,319 shares of the company’s stock, valued at approximately $5,948,925. The disclosure for this sale can be found here. Insiders sold a total of 5,355 shares of company stock valued at $386,248 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in InterDigital by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,865,421 shares of the Wireless communications provider’s stock valued at $221,497,000 after purchasing an additional 40,030 shares during the period. State Street Corp grew its stake in InterDigital by 8.2% in the 2nd quarter. State Street Corp now owns 1,199,522 shares of the Wireless communications provider’s stock valued at $92,724,000 after purchasing an additional 91,286 shares during the period. Dimensional Fund Advisors LP grew its stake in InterDigital by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 923,558 shares of the Wireless communications provider’s stock valued at $71,394,000 after purchasing an additional 37,058 shares during the period. Northern Trust Corp grew its stake in InterDigital by 2.7% in the 2nd quarter. Northern Trust Corp now owns 614,152 shares of the Wireless communications provider’s stock valued at $47,473,000 after purchasing an additional 16,034 shares during the period. Finally, Renaissance Technologies LLC grew its stake in InterDigital by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 574,574 shares of the Wireless communications provider’s stock valued at $44,415,000 after purchasing an additional 98,874 shares during the period. Hedge funds and other institutional investors own 75.33% of the company’s stock.
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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