InterDigital (NASDAQ:IDCC) Updates Q4 2024 Earnings Guidance

InterDigital (NASDAQ:IDCC) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.420-5.700 for the period, compared to the consensus EPS estimate of 0.870. The company issued revenue guidance of $239.0 million-$249.0 million, compared to the consensus revenue estimate of $138.7 million. InterDigital also updated its FY 2024 guidance to 14.690-14.990 EPS.

InterDigital Price Performance

IDCC stock traded up $15.26 during trading on Friday, reaching $165.70. 868,138 shares of the company were exchanged, compared to its average volume of 426,509. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 0.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 1.51. The company has a 50-day moving average of $142.84 and a two-hundred day moving average of $126.27. InterDigital has a twelve month low of $76.82 and a twelve month high of $166.46.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 36.69% and a return on equity of 40.49%. The firm had revenue of $223.49 million for the quarter, compared to analysts’ expectations of $95.63 million. As a group, equities analysts predict that InterDigital will post 9.06 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.09%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s payout ratio is currently 19.23%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Roth Mkm lifted their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

Insider Buying and Selling

In related news, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the transaction, the director now directly owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John A. Kritzmacher sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the sale, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the transaction, the director now directly owns 7,639 shares in the company, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,205 shares of company stock valued at $716,218 in the last three months. Insiders own 2.30% of the company’s stock.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.