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 Stock Performance

Shares of IDCC traded up $15.26 during trading hours on Friday, reaching $165.70. 868,138 shares of the company traded hands, compared to its average volume of 426,509. InterDigital has a 1-year low of $76.82 and a 1-year high of $166.46. The stock has a market cap of $4.16 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 0.95 and a beta of 1.38. The stock’s fifty day moving average is $142.84 and its 200 day moving average is $126.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.51 and a current ratio of 1.62.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $0.43 by $3.77. The company had revenue of $223.49 million for 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%. Equities research analysts anticipate that InterDigital will post 9.06 earnings per share for the current fiscal year.

InterDigital Increases Dividend

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction dated 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 $2,813,102.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,205 shares of company stock worth $716,218 in the last three months. Insiders own 2.30% of the company’s stock.

InterDigital Company Profile

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.