InterDigital hits record high after earnings, outlook

InterDigital

06/02/2025 20:37

** InterDigital  IDCC.O  shares up 15% to $210.88, on track for
biggest daily pct gain since Oct 2022, after hitting record
intraday high of $213.37
    ** The provider of wireless and video technologies reported
Q4 EPS of that fell short of Street estimate but revenue of
$252.8 mln topped $244.2 mln estimate
    ** IDCC forecast Q1 EPS between $1.19 to $1.42 on revenue of
$112 to $116 mln vs current estimate of $1.17 per share and
$130.5 mln in revenue; FY outlook of $9.69 to $12.92 on revenue
of $660 to $760 mln vs EPS estimate of $4.67 and $533 mln in
revenue
    ** IDCC also raised its quarterly cash dividend to 60 cents
per share from 45 cents per share
    ** Of the 5 analysts that cover IDCC, the breakdown of
recommendations are 3 "strong buy" or "buy," 1 "hold" and 1
"sell" or "strong sell" rating
    ** Jefferies analyst Blayne Curtis, who rates IDCC "hold",
said in note on Thursday, "Another catchup payment in Q4 with
more on the way in 2025, plus we start to get a first peek at
progress towards the Streaming opportunity. The consistency of
the catchup payments suggests that the valuation should give
more credit to the strong pipeline of potential signings over
the medium term."
    ** Median price target of $193 is up from $185.50 a month
ago

 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))