Trading Report: The Analysts Offer Predictions for InterDigital Inc.’s Q3 2016 Earnings (IDCC)

The Analysts Offer Predictions for InterDigital Inc.’s Q3 2016 Earnings (IDCC)

InterDigital Inc. (NASDAQ:IDCC) – Stock analysts at Dougherty & Co issued their Q3 2016 earnings per share estimates for InterDigital in a research note issued to investors on Wednesday. Dougherty & Co analyst C. Anderson expects that the firm will post earnings per share of $2.93 for the quarter. Dougherty & Co currently has a “Neutral” rating on the stock. Dougherty & Co also issued estimates for InterDigital’s Q4 2016 earnings at $0.74 EPS, FY2016 earnings at $5.60 EPS, Q1 2017 earnings at $1.01 EPS, Q2 2017 earnings at $0.53 EPS, Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.74 EPS, FY2017 earnings at $2.72 EPS, Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $0.63 EPS, Q3 2018 earnings at $0.50 EPS and FY2018 earnings at $3.07 EPS.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.31 by $0.83. The business earned $75.90 million during the quarter, compared to the consensus estimate of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. InterDigital’s revenue was down 36.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS.

Several other research firms also recently weighed in on IDCC. Barclays PLC restated an “equal weight” rating and set a $80.00 price objective (up previously from $75.00) on shares of InterDigital in a report on Friday, September 23rd. B. Riley restated a “neutral” rating and set a $80.00 price objective on shares of InterDigital in a report on Saturday, October 1st. Zacks Investment Research upgraded shares of InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 price objective on the stock in a report on Saturday, August 6th. Finally, TheStreet upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. InterDigital currently has a consensus rating of “Buy” and a consensus price target of $78.33.

Shares of InterDigital (NASDAQ:IDCC) traded down 0.872% during mid-day trading on Friday, hitting $77.855. 83,569 shares of the company traded hands. InterDigital has a one year low of $41.01 and a one year high of $79.97. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 22.024 and a beta of 0.73. The firm has a 50-day moving average of $74.12 and a 200-day moving average of $61.69.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. This is an increase from InterDigital’s previous quarterly dividend of $0.20. InterDigital’s dividend payout ratio is currently 22.66%.

Several hedge funds have recently made changes to their positions in IDCC. Jacobs Levy Equity Management Inc. purchased a new stake in shares of InterDigital during the first quarter valued at approximately $779,000. Renaissance Technologies LLC increased its stake in shares of InterDigital by 48.0% in the first quarter. Renaissance Technologies LLC now owns 223,693 shares of the company’s stock valued at $12,449,000 after buying an additional 72,500 shares in the last quarter. Hancock Holding Co. increased its stake in shares of InterDigital by 14.2% in the first quarter. Hancock Holding Co. now owns 15,396 shares of the company’s stock valued at $857,000 after buying an additional 1,915 shares in the last quarter. UBS Group AG increased its stake in shares of InterDigital by 70.5% in the first quarter. UBS Group AG now owns 32,803 shares of the company’s stock valued at $1,826,000 after buying an additional 13,566 shares in the last quarter. Finally, State Street Corp increased its stake in shares of InterDigital by 0.7% in the first quarter. State Street Corp now owns 1,090,975 shares of the company’s stock valued at $60,710,000 after buying an additional 7,093 shares in the last quarter. Institutional investors own 69.14% of the company’s stock.

InterDigital Company Profile

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