Wall Street analysts expect that InterDigital Wireless Inc (NASDAQ:IDCC) will announce $97.15 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for InterDigital Wireless’ earnings, with the lowest sales estimate coming in at $96.10 million and the highest estimate coming in at $98.20 million. InterDigital Wireless posted sales of $75.61 million during the same quarter last year, which suggests a positive year-over-year growth rate of 28.5%. The firm is expected to report its next quarterly earnings results on Thursday, August 6th.
On average, analysts expect that InterDigital Wireless will report full year sales of $345.35 million for the current fiscal year, with estimates ranging from $345.30 million to $345.40 million. For the next fiscal year, analysts expect that the company will post sales of $360.60 million, with estimates ranging from $353.90 million to $367.30 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow InterDigital Wireless.
A number of equities research analysts have recently weighed in on IDCC shares. Dougherty & Co restated a “buy” rating and issued a $87.00 price objective on shares of InterDigital Wireless in a report on Sunday, June 7th. BidaskClub raised shares of InterDigital Wireless from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 28th. ValuEngine downgraded InterDigital Wireless from a “buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Roth Capital reissued a “market perform” rating and issued a $104.00 price target on shares of InterDigital Wireless in a report on Sunday, June 7th. Finally, B. Riley reissued a “buy” rating and set a $90.00 price objective on shares of InterDigital Wireless in a report on Thursday, May 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $93.67.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd raised its stake in InterDigital Wireless by 1,858.3% in the 4th quarter. Point72 Hong Kong Ltd now owns 940 shares of the Wireless communications provider’s stock valued at $51,000 after acquiring an additional 892 shares during the period. PNC Financial Services Group Inc. grew its stake in InterDigital Wireless by 23.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,420 shares of the Wireless communications provider’s stock valued at $78,000 after acquiring an additional 273 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of InterDigital Wireless by 141.0% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,465 shares of the Wireless communications provider’s stock valued at $79,000 after buying an additional 857 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in InterDigital Wireless by 48.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,542 shares of the Wireless communications provider’s stock worth $84,000 after purchasing an additional 506 shares in the last quarter. Finally, Advisor Group Holdings Inc. purchased a new stake in InterDigital Wireless in the 1st quarter valued at $88,000. 76.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ IDCC traded down $0.25 during midday trading on Friday, hitting $58.25. The company’s stock had a trading volume of 1,691 shares, compared to its average volume of 259,107. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.71 and a quick ratio of 4.71. InterDigital Wireless has a 1 year low of $31.04 and a 1 year high of $66.95. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 78.00, a price-to-earnings-growth ratio of 2.21 and a beta of 1.15. The business’s fifty day simple moving average is $55.90 and its two-hundred day simple moving average is $53.23.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.40%. InterDigital Wireless’s dividend payout ratio (DPR) is presently 212.12%.
InterDigital Wireless Company Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks.
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