InterDigital Wireless Inc (NASDAQ:IDCC) Expected to Post Quarterly Sales of $76.80 Million

Equities research analysts expect InterDigital Wireless Inc (NASDAQ:IDCC) to report $76.80 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for InterDigital Wireless’ earnings, with the highest sales estimate coming in at $79.10 million and the lowest estimate coming in at $74.50 million. InterDigital Wireless reported sales of $75.08 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that InterDigital Wireless will report full year sales of $296.70 million for the current year, with estimates ranging from $294.80 million to $298.60 million. For the next year, analysts forecast that the firm will report sales of $319.90 million, with estimates ranging from $311.00 million to $328.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for InterDigital Wireless.

InterDigital Wireless (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. InterDigital Wireless had a return on equity of 3.15% and a net margin of 9.56%. The firm had revenue of $75.61 million for the quarter, compared to analysts’ expectations of $75.50 million. During the same period in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year.

A number of analysts have recently commented on the company. B. Riley reissued a “buy” rating and issued a $80.00 price target (down from $90.00) on shares of InterDigital Wireless in a research report on Friday, August 2nd. BidaskClub cut InterDigital Wireless from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 15th. Finally, Zacks Investment Research cut InterDigital Wireless from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $80.00.

Shares of IDCC traded down $1.91 during mid-day trading on Tuesday, reaching $47.13. The company had a trading volume of 270,738 shares, compared to its average volume of 510,124. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.87 and a current ratio of 3.87. The firm has a 50-day moving average price of $59.34 and a 200 day moving average price of $65.47. InterDigital Wireless has a 52 week low of $47.02 and a 52 week high of $83.65. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 12.66 and a beta of 0.98.

In related news, insider William J. Merritt sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $65.02, for a total value of $975,300.00. Following the transaction, the insider now directly owns 176,065 shares of the company’s stock, valued at approximately $11,447,746.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jean F. Rankin sold 680 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $64.84, for a total value of $44,091.20. Following the completion of the transaction, the director now directly owns 20,918 shares in the company, valued at $1,356,323.12. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Empirical Finance LLC lifted its holdings in shares of InterDigital Wireless by 0.9% during the 2nd quarter. Empirical Finance LLC now owns 32,220 shares of the Wireless communications provider’s stock valued at $2,075,000 after buying an additional 280 shares during the period. Sigma Planning Corp increased its stake in shares of InterDigital Wireless by 4.5% in the 1st quarter. Sigma Planning Corp now owns 11,730 shares of the Wireless communications provider’s stock worth $774,000 after purchasing an additional 507 shares in the last quarter. Regal Investment Advisors LLC increased its stake in shares of InterDigital Wireless by 2.5% in the 1st quarter. Regal Investment Advisors LLC now owns 26,306 shares of the Wireless communications provider’s stock worth $1,736,000 after purchasing an additional 633 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of InterDigital Wireless by 15.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,263 shares of the Wireless communications provider’s stock worth $545,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in shares of InterDigital Wireless in the 2nd quarter worth $1,893,000. 72.52% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Wireless Company Profile

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides 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 Wireless (NASDAQ:IDCC)

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