We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
InterDigital (IDCC) Stock Moves -1.18%: What You Should Know
Read MoreHide Full Article
In the latest market close, InterDigital (IDCC - Free Report) reached $78.85, with a -1.18% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.34%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 1.62%.
Shares of the wireless research and development company witnessed a loss of 3.18% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.34% and the S&P 500's loss of 1.57%.
Market participants will be closely following the financial results of InterDigital in its upcoming release. The company plans to announce its earnings on November 2, 2023. The company is expected to report EPS of $1.19, up 60.81% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $98.94 million, indicating a 13.79% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.91 per share and revenue of $503.81 million. These totals would mark changes of +157.65% and +10.05%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for InterDigital. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, InterDigital possesses a Zacks Rank of #4 (Sell).
With respect to valuation, InterDigital is currently being traded at a Forward P/E ratio of 10.09. This represents a discount compared to its industry's average Forward P/E of 12.32.
We can additionally observe that IDCC currently boasts a PEG ratio of 0.72. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Wireless Equipment industry was having an average PEG ratio of 1.59.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow IDCC in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
InterDigital (IDCC) Stock Moves -1.18%: What You Should Know
In the latest market close, InterDigital (IDCC - Free Report) reached $78.85, with a -1.18% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.34%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 1.62%.
Shares of the wireless research and development company witnessed a loss of 3.18% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.34% and the S&P 500's loss of 1.57%.
Market participants will be closely following the financial results of InterDigital in its upcoming release. The company plans to announce its earnings on November 2, 2023. The company is expected to report EPS of $1.19, up 60.81% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $98.94 million, indicating a 13.79% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.91 per share and revenue of $503.81 million. These totals would mark changes of +157.65% and +10.05%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for InterDigital. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, InterDigital possesses a Zacks Rank of #4 (Sell).
With respect to valuation, InterDigital is currently being traded at a Forward P/E ratio of 10.09. This represents a discount compared to its industry's average Forward P/E of 12.32.
We can additionally observe that IDCC currently boasts a PEG ratio of 0.72. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Wireless Equipment industry was having an average PEG ratio of 1.59.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow IDCC in the coming trading sessions, be sure to utilize Zacks.com.