Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessInterDigital Shares Plunge 8 percent on BofA’s Double Downgrade

InterDigital Shares Plunge 8 percent on BofA’s Double Downgrade

Add to Favorite
Added to Favorite


BofA Securities analysts downgraded InterDigital (NASDAQ:IDCC) to Underperform from Buy and slashed the price target to $100 from $140. The company’s shares plunged more than 8% intra-day today.
The bank noted that InterDigital’s shares have surged by 47% over the past year, largely due to consecutive quarters of strong growth fueled by new licensing deals with Lenovo, Panasonic, and others. This growth was also significantly boosted by a 162% year-over-year increase in non-recurring revenues, which mainly consist of one-time catch-up payments.
However, looking ahead, the bank raises concerns about the company’s growth projections for 2024 and anticipates negative growth rates in 2025. The analysts emphasized that while the company reported a 20% revenue increase in 2023, this figure falls to a mere 1% year-over-year growth when excluding one-time, non-recurring revenues.

Subscribe to get Latest News Updates

Latest News

You may like more
more

BlackRock Surpasses Q1 2024 Earnings Estimates – A Financial Triumph

BlackRock, Inc. (NYSE:BLK) Surpasses Q1 2024 Earnings Estimates On Friday,...

Fastenal Company (FAST) Q1 2024 Earnings Miss Estimates

Fastenal Company (FAST) Earnings Report Highlights On Thursday, April 11,...

State Street Corporation Exceeds Q1 2024 Earnings and Revenue Forecasts

State Street Corporation's Impressive Earnings Report On Friday, April 12,...