Roth/MKM Comments on InterDigital Inc. (IDCC)
Roth/MKM analyst Scott W. Searle reiterated a Buy rating and $132.00 price target on InterDigital Inc. (NASDAQ: IDCC).
The analyst comments "IDCC reported 1Q24 results ahead of expectations, largely on one-time catch-up sales. June guidance of recurring sales is slightly below our expectations ($93-97M vs $99M), but the annual guidance range was reaffirmed ($620-670M). Long-term thesis is unchanged and the company has been awarded an injunction vs Lenovo in Germany. We expect a combination of Samsung arbitration, new OEMs, and CE traction (beyond Samsung TVs) to drive IDCC to 2024 targets. We maintain our Buy rating and our LT view of $10+ EPS power."
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Shares of InterDigital Inc. closed at $102.86 yesterday.