B. Riley Research Analysts Boost Earnings Estimates for InterDigital Wireless Inc (NASDAQ:IDCC)

InterDigital Wireless Inc (NASDAQ:IDCC) – B. Riley boosted their Q2 2019 earnings per share (EPS) estimates for InterDigital Wireless in a report issued on Friday, May 3rd, according to Zacks Investment Research. B. Riley analyst E. Wold now expects that the Wireless communications provider will post earnings per share of $0.14 for the quarter, up from their prior estimate of $0.09. B. Riley has a “Buy” rating and a $90.00 price target on the stock. B. Riley also issued estimates for InterDigital Wireless’ Q3 2019 earnings at $0.35 EPS, Q4 2019 earnings at $0.37 EPS, Q1 2020 earnings at $0.47 EPS, Q2 2020 earnings at $0.54 EPS, Q3 2020 earnings at $0.94 EPS, Q4 2020 earnings at $0.90 EPS and FY2020 earnings at $2.86 EPS.

InterDigital Wireless (NASDAQ:IDCC) last posted its earnings results on Thursday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). InterDigital Wireless had a return on equity of 3.27% and a net margin of 10.79%. The firm had revenue of $68.63 million during the quarter, compared to the consensus estimate of $70.19 million. During the same quarter in the previous year, the company earned $1.29 EPS. The business’s revenue was down 21.5% compared to the same quarter last year.

Several other research firms have also weighed in on IDCC. Zacks Investment Research upgraded shares of InterDigital Wireless from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Tuesday, May 7th. BidaskClub lowered shares of InterDigital Wireless from a “sell” rating to a “strong sell” rating in a research report on Friday, April 26th. Finally, TheStreet lowered shares of InterDigital Wireless from a “b” rating to a “c” rating in a research report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. InterDigital Wireless presently has a consensus rating of “Buy” and an average target price of $94.25.

Shares of NASDAQ IDCC traded up $3.35 during trading on Monday, hitting $65.88. The stock had a trading volume of 2,270,494 shares, compared to its average volume of 344,054. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 6.96 and a beta of 1.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.95 and a quick ratio of 1.95. InterDigital Wireless has a 12 month low of $62.34 and a 12 month high of $85.85.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in InterDigital Wireless by 5.7% during the fourth quarter. Legal & General Group Plc now owns 35,515 shares of the Wireless communications provider’s stock valued at $2,360,000 after purchasing an additional 1,925 shares during the last quarter. Bessemer Group Inc. lifted its holdings in InterDigital Wireless by 250.4% during the fourth quarter. Bessemer Group Inc. now owns 40,300 shares of the Wireless communications provider’s stock valued at $2,677,000 after purchasing an additional 28,800 shares during the last quarter. Vanguard Group Inc. lifted its holdings in InterDigital Wireless by 2.5% during the third quarter. Vanguard Group Inc. now owns 3,239,611 shares of the Wireless communications provider’s stock valued at $259,169,000 after purchasing an additional 79,520 shares during the last quarter. Fort L.P. lifted its holdings in InterDigital Wireless by 14.8% during the fourth quarter. Fort L.P. now owns 80,229 shares of the Wireless communications provider’s stock valued at $5,330,000 after purchasing an additional 10,318 shares during the last quarter. Finally, Norges Bank purchased a new stake in InterDigital Wireless during the fourth quarter valued at about $42,421,000. 74.37% of the stock is currently owned by institutional investors and hedge funds.

About InterDigital Wireless

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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