InterDigital Wireless Inc (NASDAQ:IDCC) Expected to Announce Quarterly Sales of $74.90 Million

Wall Street brokerages expect InterDigital Wireless Inc (NASDAQ:IDCC) to announce $74.90 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for InterDigital Wireless’ earnings, with estimates ranging from $74.50 million to $75.30 million. InterDigital Wireless reported sales of $69.56 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The business is scheduled to report its next earnings results on Thursday, August 1st.

On average, analysts expect that InterDigital Wireless will report full-year sales of $300.70 million for the current financial year, with estimates ranging from $295.20 million to $306.20 million. For the next fiscal year, analysts expect that the firm will report sales of $335.45 million, with estimates ranging from $315.20 million to $355.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover InterDigital Wireless.

InterDigital Wireless (NASDAQ:IDCC) last issued its quarterly earnings data 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). The firm had revenue of $68.63 million for the quarter, compared to analysts’ expectations of $70.19 million. InterDigital Wireless had a return on equity of 3.27% and a net margin of 10.79%. The firm’s revenue was down 21.5% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share.

Several analysts have recently issued reports on the company. BidaskClub raised InterDigital Wireless from a “strong sell” rating to a “sell” rating in a report on Friday, April 5th. Zacks Investment Research raised InterDigital Wireless from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Tuesday, February 26th. TheStreet lowered InterDigital Wireless from a “b” rating to a “c” rating in a report on Thursday, February 28th. Finally, B. Riley set a $90.00 price target on InterDigital Wireless and gave the company a “buy” rating in a report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. InterDigital Wireless has an average rating of “Buy” and an average target price of $91.00.

Shares of IDCC opened at $63.95 on Wednesday. The company has a market cap of $2.06 billion, a PE ratio of 75.46, a PEG ratio of 7.09 and a beta of 1.10. InterDigital Wireless has a 1 year low of $62.34 and a 1 year high of $85.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.95 and a current ratio of 1.95.

In related news, insider William J. Merritt sold 15,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $65.02, for a total transaction of $975,300.00. Following the sale, the insider now owns 176,065 shares in the company, 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 link. Also, Director Jean F. Rankin sold 680 shares of the stock in a transaction 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 sale, the director now owns 20,918 shares in the company, valued at approximately $1,356,323.12. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. SEI Investments Co bought a new position in InterDigital Wireless in the 1st quarter valued at $36,000. Royce & Associates LP grew its position in InterDigital Wireless by 40.6% in the 1st quarter. Royce & Associates LP now owns 700 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 202 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in InterDigital Wireless in the 4th quarter valued at $79,000. Penserra Capital Management LLC bought a new position in InterDigital Wireless in the 1st quarter valued at $83,000. Finally, Cresset Asset Management LLC bought a new position in InterDigital Wireless in the 1st quarter valued at $85,000. Institutional investors own 74.36% of the company’s stock.

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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