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InterDigital (IDCC) Rises As Market Takes a Dip: Key Facts
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InterDigital (IDCC - Free Report) ended the recent trading session at $103.86, demonstrating a +0.48% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.37%. Elsewhere, the Dow saw a downswing of 0.62%, while the tech-heavy Nasdaq depreciated by 0.19%.
Coming into today, shares of the wireless research and development company had lost 5.42% in the past month. In that same time, the Computer and Technology sector gained 1.22%, while the S&P 500 gained 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of InterDigital in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.21, indicating a 12.04% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $104.01 million, indicating a 11.15% downward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for InterDigital. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. InterDigital currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, InterDigital is currently exchanging hands at a Forward P/E ratio of 16.1. This valuation marks a premium compared to its industry's average Forward P/E of 14.34.
Investors should also note that IDCC has a PEG ratio of 0.92 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. IDCC's industry had an average PEG ratio of 1.43 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 173, this industry ranks in the bottom 32% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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InterDigital (IDCC) Rises As Market Takes a Dip: Key Facts
InterDigital (IDCC - Free Report) ended the recent trading session at $103.86, demonstrating a +0.48% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.37%. Elsewhere, the Dow saw a downswing of 0.62%, while the tech-heavy Nasdaq depreciated by 0.19%.
Coming into today, shares of the wireless research and development company had lost 5.42% in the past month. In that same time, the Computer and Technology sector gained 1.22%, while the S&P 500 gained 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of InterDigital in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.21, indicating a 12.04% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $104.01 million, indicating a 11.15% downward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for InterDigital. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. InterDigital currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, InterDigital is currently exchanging hands at a Forward P/E ratio of 16.1. This valuation marks a premium compared to its industry's average Forward P/E of 14.34.
Investors should also note that IDCC has a PEG ratio of 0.92 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. IDCC's industry had an average PEG ratio of 1.43 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 173, this industry ranks in the bottom 32% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.