InterDigital, Inc. (NASDAQ:IDCC) – Analysts at B. Riley upped their FY2017 EPS estimates for shares of InterDigital in a report released on Tuesday. B. Riley analyst E. Wold now expects that the Wireless communications provider will earn $4.04 per share for the year, up from their previous estimate of $3.75. B. Riley currently has a “Buy” rating and a $100.00 target price on the stock. B. Riley also issued estimates for InterDigital’s Q1 2019 earnings at $0.38 EPS, Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.53 EPS and FY2019 earnings at $1.75 EPS.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Friday, August 18th. ValuEngine downgraded shares of InterDigital from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Sidoti upgraded shares of InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $89.00.
Shares of InterDigital (IDCC) opened at $71.50 on Wednesday. The firm has a market cap of $2,502.69, a price-to-earnings ratio of 9.96 and a beta of 0.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.22 and a current ratio of 3.22. InterDigital has a 52 week low of $67.55 and a 52 week high of $102.30.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.34. The firm had revenue of $97.30 million during the quarter, compared to analysts’ expectations of $94.13 million. InterDigital had a net margin of 42.94% and a return on equity of 32.77%. InterDigital’s quarterly revenue was down 53.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.99 EPS.
InterDigital announced that its board has initiated a stock buyback program on Thursday, September 14th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the Wireless communications provider to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.96%. This is a boost from InterDigital’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, October 10th. InterDigital’s dividend payout ratio is presently 19.34%.
In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $75.00, for a total transaction of $37,500.00. Following the sale, the executive vice president now directly owns 79,319 shares of the company’s stock, valued at approximately $5,948,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jannie K. Lau sold 2,561 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $72.31, for a total transaction of $185,185.91. Following the sale, the executive vice president now directly owns 19,496 shares in the company, valued at $1,409,755.76. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC boosted its position in shares of InterDigital by 3.4% in the third quarter. Cubist Systematic Strategies LLC now owns 24,420 shares of the Wireless communications provider’s stock worth $1,801,000 after acquiring an additional 802 shares during the last quarter. Vident Investment Advisory LLC acquired a new stake in shares of InterDigital in the third quarter worth approximately $2,934,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of InterDigital by 169.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 30,300 shares of the Wireless communications provider’s stock worth $2,234,000 after acquiring an additional 19,059 shares during the last quarter. Stifel Financial Corp boosted its position in shares of InterDigital by 3.2% in the third quarter. Stifel Financial Corp now owns 54,198 shares of the Wireless communications provider’s stock worth $3,997,000 after acquiring an additional 1,675 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of InterDigital in the third quarter worth approximately $3,828,000. 74.76% of the stock is currently owned by institutional investors and hedge funds.
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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