Equities Analysts Set Expectations for InterDigital, Inc.’s Q3 2018 Earnings (IDCC)

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InterDigital, Inc. (NASDAQ:IDCC) – Equities research analysts at B. Riley lowered their Q3 2018 earnings per share estimates for InterDigital in a report released on Monday, October 29th. B. Riley analyst E. Wold now anticipates that the Wireless communications provider will post earnings per share of $0.21 for the quarter, down from their prior estimate of $0.27. B. Riley also issued estimates for InterDigital’s Q4 2018 earnings at $0.29 EPS, FY2018 earnings at $1.65 EPS, Q1 2020 earnings at $0.45 EPS, Q2 2020 earnings at $0.51 EPS and Q3 2020 earnings at $0.64 EPS.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, August 2nd. The Wireless communications provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. InterDigital had a net margin of 27.99% and a return on equity of 19.85%. The company had revenue of $69.56 million for the quarter, compared to the consensus estimate of $64.39 million. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The company’s revenue for the quarter was down 48.8% compared to the same quarter last year.

Several other brokerages also recently issued reports on IDCC. National Securities assumed coverage on shares of InterDigital in a report on Monday, July 23rd. They issued a “buy” rating and a $103.00 price target on the stock. ValuEngine raised shares of InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. BidaskClub downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Finally, Zacks Investment Research downgraded shares of InterDigital from a “hold” rating to a “strong sell” rating in a report on Monday, August 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $94.40.

Shares of NASDAQ IDCC opened at $70.23 on Tuesday. InterDigital has a 12-month low of $68.22 and a 12-month high of $85.85. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.71 and a beta of 0.98. The company has a current ratio of 9.36, a quick ratio of 9.36 and a debt-to-equity ratio of 0.28.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Investors of record on Wednesday, October 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, October 9th. InterDigital’s payout ratio is 23.10%.

In related news, EVP James J. Nolan sold 5,093 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $79.82, for a total transaction of $406,523.26. Following the transaction, the executive vice president now owns 39,560 shares of the company’s stock, valued at $3,157,679.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of InterDigital by 79.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,740 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 770 shares during the period. Sei Investments Co. lifted its stake in shares of InterDigital by 3,235.1% during the first quarter. Sei Investments Co. now owns 1,901 shares of the Wireless communications provider’s stock valued at $140,000 after buying an additional 1,844 shares during the period. Raymond James & Associates purchased a new position in shares of InterDigital during the second quarter valued at approximately $210,000. Oakbrook Investments LLC purchased a new position in shares of InterDigital during the third quarter valued at approximately $212,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of InterDigital during the second quarter valued at approximately $219,000. 74.39% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Company Profile

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.

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Earnings History and Estimates for InterDigital (NASDAQ:IDCC)

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