InterDigital, Inc. Expected to Post FY2023 Earnings of $6.81 Per Share (NASDAQ:IDCC)

Posted by Defense World Staff on Sep 8th, 2023

InterDigital, Inc. (NASDAQ:IDCC – Free Report) – Equities research analysts at Zacks Research cut their FY2023 earnings per share (EPS) estimates for shares of InterDigital in a report released on Wednesday, September 6th. Zacks Research analyst S. Bose now expects that the Wireless communications provider will post earnings of $6.81 per share for the year, down from their previous forecast of $6.84. The consensus estimate for InterDigital’s current full-year earnings is $6.85 per share. Zacks Research also issued estimates for InterDigital’s Q1 2024 earnings at $0.99 EPS.

InterDigital (NASDAQ:IDCC – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.12. InterDigital had a return on equity of 30.22% and a net margin of 33.91%. The business had revenue of $101.59 million during the quarter, compared to the consensus estimate of $101.22 million.

IDCC has been the topic of a number of other research reports. William Blair started coverage on shares of InterDigital in a report on Tuesday, August 22nd. They issued an “outperform” rating on the stock. StockNews.com started coverage on shares of InterDigital in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

View Our Latest Report on IDCC

InterDigital Stock Down 1.2 %

Shares of InterDigital stock opened at $81.33 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.67 and a quick ratio of 2.67. InterDigital has a 1-year low of $40.23 and a 1-year high of $98.69. The business has a 50-day moving average of $89.15 and a 200-day moving average of $82.12. The company has a market capitalization of $2.15 billion, a PE ratio of 13.14, a P/E/G ratio of 0.87 and a beta of 1.24.

Institutional Investors Weigh In On InterDigital

Large investors have recently made changes to their positions in the stock. Dark Forest Capital Management LP lifted its stake in InterDigital by 892.0% in the fourth quarter. Dark Forest Capital Management LP now owns 496 shares of the Wireless communications provider’s stock valued at $25,000 after acquiring an additional 446 shares during the last quarter. Point72 Asset Management L.P. bought a new position in InterDigital during the second quarter worth about $39,000. Quadrant Capital Group LLC increased its holdings in InterDigital by 55.3% in the 4th quarter. Quadrant Capital Group LLC now owns 887 shares of the Wireless communications provider’s stock valued at $44,000 after buying an additional 316 shares during the period. Ronald Blue Trust Inc. increased its holdings in InterDigital by 17.6% in the 1st quarter. Ronald Blue Trust Inc. now owns 1,174 shares of the Wireless communications provider’s stock valued at $58,000 after buying an additional 176 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of InterDigital by 89.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 848 shares of the Wireless communications provider’s stock valued at $62,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 94.98% of the company’s stock.

Insider Transactions at InterDigital

In other news, insider Joshua D. Schmidt sold 364 shares of InterDigital stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.52, for a total transaction of $30,401.28. Following the sale, the insider now directly owns 19,690 shares in the company, valued at approximately $1,644,508.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Eric Cohen sold 4,329 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $96.13, for a total transaction of $416,146.77. Following the completion of the sale, the insider now directly owns 25,959 shares of the company’s stock, valued at $2,495,438.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joshua D. Schmidt sold 364 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $83.52, for a total transaction of $30,401.28. Following the sale, the insider now directly owns 19,690 shares of the company’s stock, valued at $1,644,508.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,343 shares of company stock worth $502,013. 1.50% of the stock is currently owned by company insiders.

About InterDigital

(Get Free Report)

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.