Interdigital Inc Stock Price, News & Analysis

InterDigital announced preliminary results from its Dutch auction tender offer to buy back up to $200 million of its common stock. The offer expired on February 17, 2023, with 2,739,726 shares tendered at a price of $73.00 per share. This amount represents about 9.2% of shares outstanding. The company aims to return capital to stockholders while maintaining a strong cash position. Following the offer, the preliminary proration factor is approximately 95.07%. The tender offer reflects a modified price range initially set at $60.00 to $69.00, later adjusted to $65.25 to $75.00.

InterDigital is set to showcase its advanced technologies at Mobile World Congress 2023 in Barcelona. The company will present its AI/ML-enhanced wireless XR use case, HDR, and immersive video solutions at Hall 7 Stand 7B31. Key demonstrations include smarter network behaviors for enhanced 5G applications, immersive codecs for XR experiences, and high-quality 4K HDR video streaming. Additionally, InterDigital’s Head of Wireless Labs will speak at the conference session titled “5G, AI, and XR for New Immersive Experiences.” InterDigital continues to drive innovation in mobile and video technologies, contributing to foundational changes for connected devices and ecosystems.

InterDigital announced robust results for the fourth quarter and full year ended December 31, 2022, showcasing record recurring revenue of $403.9 million, an increase of 15% from 2021. Fourth quarter revenue reached $117.1 million, up 5%. Operating expenses fell 9% to $78.5 million, contributing to a 48% rise in net income to $32.4 million, equating to $1.08 per diluted share, up 54%. The company's revenue outlook for Q1 2023 anticipates between $94 and $98 million in recurring revenue.

InterDigital emphasizes growth potential in smartphones, consumer electronics, and IoT/Auto markets.

InterDigital, Inc. (Nasdaq: IDCC) announced a significant court victory in its ongoing patent litigation against Lenovo, with the UK Court of Appeal overturning a previous ruling on patent invalidity. This marks InterDigital's third win in the case since January 2023, confirming the validity and essential nature of its patents. The High Court also ruled that Lenovo is infringing on another cellular patent. A separate trial is set to determine fair licensing terms. According to Chief Legal Officer Josh Schmidt, these victories affirm the quality of InterDigital's patented technologies, recognized as world-class in the industry.

InterDigital (Nasdaq: IDCC) has amended its Dutch auction tender offer to buy back up to $200 million of its common stock. The revised offer sets a price range of $65.25 to $75.00 per share, increased from the previous range of $60.00 to $69.00. The offer will expire on February 17, 2023. If fully subscribed, the company will acquire approximately 2.67 to 3.07 million shares, representing 9.0% to 10.3% of outstanding shares. Shareholders who do not wish to participate do not need to take action. This move aims to enhance shareholder value amidst favorable trading conditions.

InterDigital (Nasdaq: IDCC) announced a modified Dutch auction tender offer to repurchase up to $200 million of its common stock at a price between $60.00 and $69.00 per share. The offer, set to expire on February 17, 2023, aims to acquire approximately 2.9 million to 3.3 million shares, representing 9.8% to 11.2% of outstanding stock. The tender offer provides a mechanism for stockholders to indicate how many shares they wish to sell and at what price. The Board believes this strategy enhances shareholder value. Stockholders are encouraged to review the related documents before deciding on participation.

InterDigital (NASDAQ: IDCC) reported preliminary financial results for Q4 2022, anticipating revenues of approximately $114 million, exceeding previous estimates of $98-$102 million due to new agreements. Recurring revenue is expected at $101 million. Operating expenses are projected at $79 million, slightly above earlier forecasts. A positive shift in net non-operating income to $1 million is expected, compared to an earlier estimate of net expense of $4-$6 million, stemming from increased interest income and foreign currency gains. Estimated net income is around $28 million or $0.93 per diluted share, with Adjusted EBITDA at $60 million.

On January 19, 2023, InterDigital, Inc. (NASDAQ: IDCC) secured a significant legal victory against Lenovo in the UK Court of Appeal. The court upheld a previous ruling confirming that Lenovo infringes on a valid and essential InterDigital cellular patent. This patent is critical to the 4G LTE standard, as established by the UK High Court in July 2021. A separate trial is forthcoming to determine fair licensing terms for InterDigital’s patent portfolio. Chief Legal Officer Josh Schmidt emphasized the importance of this ruling, highlighting the strength and quality of InterDigital's innovation and patent holdings.