InterDigital (NASDAQ:IDCC) Issues Q4 2024 Earnings Guidance

InterDigital (NASDAQ:IDCC) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.420-5.700 for the period, compared to the consensus 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

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

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $3.77. The business had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. InterDigital had a return on equity of 40.49% and a net margin of 36.69%. Research analysts forecast that InterDigital will post 9.06 earnings per share for the current year.

InterDigital Increases Dividend

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

Wall Street Analyst Weigh In

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

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John A. Kritzmacher sold 2,500 shares of the business’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 value of $346,800.00. Following the completion of the sale, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,205 shares of company stock valued at $716,218. 2.30% of the stock is owned by insiders.

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.