InterDigital, Inc. - IDCC STOCK NEWS

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.

InterDigital, Inc. (NASDAQ: IDCC) has announced a significant increase in its stock repurchase program, raising the total authorization to $400 million, with an additional $333 million approved. The company will utilize its cash resources for these repurchases, which will depend on market conditions. There is no obligation for InterDigital to repurchase stocks, and the program may be modified at the company's discretion. This move reflects the company's commitment to enhancing shareholder value and utilizing its cash reserves strategically.

InterDigital, Inc. (NASDAQ:IDCC) has renewed two patent licenses with Panasonic Entertainment & Communication Co., Ltd. These licenses cover DTV and HEVC patents under their established HEVC program. Eeva Hakoranta, the Chief Licensing Officer, expressed satisfaction with the renewal, emphasizing the ongoing value provided to InterDigital, Sony, and their licensees. InterDigital specializes in mobile and video technology, offering solutions for efficient broadband networks and enhanced video delivery.

InterDigital, Inc. (NASDAQ:IDCC) announced a new patent licensing agreement with LG Electronics, covering HEVC and VVC technology for various LG products, including TVs and PCs. Eeva Hakoranta, Chief Licensing Officer, expressed satisfaction with the partnership, highlighting its potential for mutual benefits. The agreement positions InterDigital as a key player in the mobile and video technology sectors, enabling enhanced multimedia experiences for consumers worldwide.

InterDigital, Inc. (NASDAQ:IDCC) announced the renewal of its patent license agreement with Samsung Electronics, transitioning to binding arbitration to finalize terms, including payment amounts. Samsung's previous license expired on December 31, 2022, with the new agreement taking effect from January 1, 2023. CEO Liren Chen emphasized the importance of amicable negotiations but acknowledged arbitration as a necessary measure for unresolved matters. InterDigital specializes in mobile and video technologies, collaborating with leading tech firms globally.