InterDigital (NASDAQ:IDCC) Releases Q4 2022 Earnings Guidance

InterDigital (NASDAQ:IDCC – Get Rating) issued an update on its fourth quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.93-$0.93 for the period, compared to the consensus estimate of $0.57. The company issued revenue guidance of $114.00 million-$114.00 million, compared to the consensus revenue estimate of $102.55 million. InterDigital also updated its Q4 guidance to $0.93 EPS.

InterDigital Stock Up 1.3 %

IDCC opened at $62.92 on Friday. InterDigital has a fifty-two week low of $40.23 and a fifty-two week high of $71.73. The business has a 50-day moving average of $52.03 and a 200-day moving average of $51.92. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.66 and a quick ratio of 4.66. The company has a market capitalization of $1.87 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 1.18 and a beta of 1.12.

InterDigital (NASDAQ:IDCC – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The Wireless communications provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.30. InterDigital had a return on equity of 11.47% and a net margin of 18.38%. The company had revenue of $114.76 million during the quarter, compared to the consensus estimate of $113.50 million. Equities research analysts forecast that InterDigital will post 2.57 EPS for the current fiscal year.

InterDigital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 11th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Tuesday, January 10th. InterDigital’s dividend payout ratio (DPR) is presently 51.66%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IDCC. StockNews.com began coverage on InterDigital in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Jefferies Financial Group began coverage on InterDigital in a research note on Friday, December 9th. They issued a buy rating and a $80.00 price objective on the stock.

Institutional Trading of InterDigital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in InterDigital in the 2nd quarter valued at approximately $132,000. Captrust Financial Advisors grew its holdings in shares of InterDigital by 39.0% during the 3rd quarter. Captrust Financial Advisors now owns 5,203 shares of the Wireless communications provider’s stock worth $210,000 after purchasing an additional 1,460 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of InterDigital during the 2nd quarter worth approximately $253,000. Envestnet Asset Management Inc. acquired a new stake in shares of InterDigital during the 2nd quarter worth approximately $256,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of InterDigital during the 3rd quarter worth approximately $295,000. Institutional investors and hedge funds own 83.97% of the company’s stock.

InterDigital Company Profile

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InterDigital, Inc, together with its subsidiaries, designs and develops technologies that enable and enhance wireless communications in the United States, China, South Korea, Japan, Taiwan, and Europe. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.