InterDigital (NASDAQ:IDCC) Updates 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 guidance of 5.420-5.700 for the period, compared to the consensus earnings per share 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 Trading Down 1.2 %

InterDigital stock traded down $1.75 during mid-day trading on Thursday, hitting $145.97. 226,278 shares of the stock were exchanged, compared to its average volume of 456,004. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. InterDigital has a 12 month low of $74.90 and a 12 month high of $164.32. The firm’s fifty day simple moving average is $141.90 and its two-hundred day simple moving average is $125.41. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 0.97 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $3.77. The firm had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. Analysts forecast that InterDigital will post 9.06 EPS for the current year.

InterDigital Increases Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.23%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s payout ratio is currently 26.47%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IDCC. Roth Mkm lifted their price objective 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 upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th.

Insiders Place Their Bets

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the transaction, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated 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 directly owns 54,984 shares of the company’s stock, valued at approximately $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 hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the sale, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,205 shares of company stock valued at $716,218 in the last three months. 2.30% of the stock is currently owned by insiders.

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.