August 23, 2009  

See all analysts' reports

at this link

ANALYST UPDATE   (See the full report at this link)

Reiterate BUY  Target $36 share price

"Nokia wins round at International Trade Commission. InterDigital intends to appeal in attempt to overturn ruling on at least one of sixteen claims. Judge rules Nokia does not infringe on four of InterDigitals patents. He ruled that four patents (covering sixteen claims in the patent infringement case) are valid but that Nokia's 3G handsets do not infringe.... Claims construction is an increasingly appealable and winable issue at the ITC.... If Nokia and InterDigital settle, we believe a deal could be worth over $30 million for 3G..... We believe there is value to be unlocked at InterDigital, given its $6 per share cash positioon (no debt)  $3 net cash due from Samsung in 2010, 3G and 4G licenses still to be signed".

See the Tom Carpenter / Hilliard Lyons report of August 20, 2009 at this link

August 16,

2009

Reflections of IHub posters on the August 14th Initial Determination (ID)

Judge Finds Patents Valid and Enforceable but Not Infringed; InterDigital to Petition for Review by Full Commission

August 14,

2009

Information and IHub comments related to:

InterDigital Receives Notice of Initial Determination in ITC Patent Infringement Action Against Nokia

Judge Finds Patents Valid and Enforceable but Not Infringed; InterDigital to Petition for Review by Full Commission

August 13, 2009  

See all analysts' reports

at this link

ANALYST UPDATE   (See the full report at this link)

Tom Carpenter's July 29, 2009 report has just now become available to us.  He wll surely write a revised report following August 14, when we will see either a settlement between Nokia and InterDigital or else a finding concerning InterDigital's request that all Nokia 3G cell phones be denied importation into the U.S. until Nokia pays 3G licensing fees.

In this report, Tom Carpenter reiterates his BUY rating RAISES the target share price to $38, up from $35. His rationale for inceasing the target price includes the strong 2Q09 earnings report plus possible settlement of the ITC case against Nokia. Carpenter notes that 2Q09 revenue of 74.9 millioon grew by 28% year over year. while EPS of $0.60 surpassed 2Q08's $0.13. In the report he provides further rationale for his share price target based on projected revenue and earnings, using a multiplier of about 16.  He believes a likely settlement with Nokia will bring in about $300 million over 4 years, figuring royaties of $0.35 to $0.50 per cell phone.  The report is certainly worth the read for his further detailed analysis of InterDigital.

See the Tom Carpenter / Hilliard Lyons report of July 29, 2009 at this link

August 12,

2009

InterDigital vs Nokia

USITC Hearing

50 Best POSTS

IHub comments on the hearing

by attorneys and others

Judicial decision expected Friday, August 14, 2009

CNBC: What is your best idea for this Friday?                   August 7, 2009

Christopher Trompeter, managing director of Tradition Capital Management:

"Using the wireless idea as a jumping off point, we like InterDigital Communications Corporation, a company that has a portfolio of wireless patents that they license to mobile device manufacturers.

The catalyst for ther stock to move higher in the short term is that there is a suit that InterDigital filed against Nokia that an administrative law judge is going to rule on sometime next week. We think that there is going to be a settlement, perhaps in advance of the ruling between the two companies, in which Nokia will pay InterDigital a per handst licensing fee."   View this CNBC Video

 BUY  Target: $39.13 share price

WirelessLedger.com comment of this report: This is the the first of what we expect to be a number of computer driven analyses (vs analysis by a human) of InterDigital based on its rapid increase in earnings, largely from the licensing of Samsung. This computer driven report does not recognize that there will be a judgment August 14th by the U.S. Intl Trade Commission that could lead to as much as $400 million in extra revenues for InterDigital. The target share value of $39 would not seem to recognize that potential revenue/earnings event either).

Our FOCUS STOCK for

August - December

2009

(InterDigital Communications Corp)

(Nasdaq:IDCC)

HERE ARE THE BEST RESEARCH TOOLS

for potential investors in

InterDigital Communications Corp.

   Links to:

     + Full analyst reports

     + InterDigital website

     + Recent slide presentation for investors

     + Best recent posts on IHub IDCC board

     + InterDigital Annual Report

     + Exclusive WirelessLedger reports

     + IHub InterDigital message board

is the Internet's

most comprehensive source

for investor research on

"Intro to Best Posts"

Representative Posts and Threads

related to

on the three most popular topics:

Best Posts:

Risks and Reward:

Investing in InterDigital

Best Posts:

Nokia-Interdigital agreement

on 3G licensing?

What are the prospects?

Best Posts:

LTE  Long Term Evolution

from 3G to 4G

How new technologies may increase InterDigital's earnings

in 2010 and beyond

July 19, 2009

COMPLETE ANALYST REPORTS

Although these reports are four or more months old, they appear to be the most recent reports available from these four analysts.

Expect new reports following IDCC's quarterly earnings report and conference call the last week of July.

Find descriptions and links to all of the reports HERE.

July 18, 2009  

WHAT IS WirelessLedger.com?

WHO IS WirelessLedger.com EDITOR BILL DALGLISH?

HOW DOES WirelessLedger.com GET ITS INFORMATION?
and CAN THIS INFORMATION BE TRUSTED?

March 5, 2007   

ANALYST REPORTS

Four most recent Analyst Reports are available here on WirelessLedger.com.

Find descriptions and links to all of the reports HERE.

ANALYST UPDATE   (See the full report at this link)

Michael F Ciarmoli and Bradley L Mook reiterate their "outperform" rating and $39  share price target.   Investment Conclusion: We believe InterDigital is well positioned to grow its recurring royalty revenues by licensing 3G and emerging next generation wireless technologies to mobile handset OEMs.
* This morning SK Telecom announced it has chosen InterDigital Communications to develop a system/software solution designed to support nationwide handover between WiBro and UMTS networks throughout Korea. We believe this is a significant event for InterDigital for two reasons:
* First, InterDigital's patent portfolio has additional monetization opportunities beyond the current 3G efforts which seems to be garnering most of the Street's attention right now. In our opinion convergence is inevitable, as numerous 802.X and other wireless protocols emerge as next generation mobile technologies. InterDigital is firmly positioned with a base of 802.21 patents - technology that supports media independent handover - that will not only provide a critical interoperability role in Korea, but should also be transferable to other geographies as build-outs progress.
* Second, we view this event as a major step in successfully building the company's technology solutions business segment.
* We reiterate our Market Outperform rating on shares of IDCC. We continue to remain confident that InterDigital will have success in signing new 3G licensees and that the company's prospects of monetizing its vast IP portfolio are intact. Additionally, we believe the Samsung settlement will be resolved in 2007 in the form of a straight 2G settlement or 2G/3G combination. Our 12 month price target of $39 is base on a sum of the parts analysis which can be found on page 3.     December 21, 2006

December 12, 2006 

ANALYST UPDATE   (See the full report at this link)

Tom Carpenter RAISES his rating to Long-term BUY and RAISES his share PRICE TARGET to $40, citing a number of reasons, including: *Share price pullback presents buying opportunity. IDCC now undervalued; * IDCC will ultimately collect on its 2G money owed ($150-$200 million) by Samsung, as it did from Nokia. Could possibly negotiate settlement that includes 3G; * IDCC is investing heavily in product development that could complement its licensing activity; * IDCC is in the enviable position of generating more cash flow than it needs to fund its current business model. Cash at end of 3Q 2006 is $5.58 per share; * Believes the firm can earn between $0.50 and $1.25 per handset sold by licensees; * InterDigital's annual earnings share in the $2 to $3.50 range. * IDCC could sign 3G licensing agreements with two major manufacturers in 2007 (probably Sony Ericsson and Samsung) with Nokia potentially signing in late 2007 or 1H 2008 and Motorola in 2008;   * Risk: the increasingly contentious licensing landscape throughout the industry.

December 8, 2006

ANALYST UPDATE   (See the full report at this link)

Michael F Ciarmoli and Bradley L Mook reiterate their "outperform" rating and $39 share price target. InterDigital is well positioned to grow its recurring royalty revenues by licensing 3G and emerging next generation wireless technologies to mobile handset OEMs. Recurring royalty revenues have grown steadily over the past six quarters and although the timing of future licensing deals and threat of litgation is a concern, we believe that investors should have confience that these revenue strams will continue to grow

    December 6, 2006

ANALYST UPDATE   (See the full report at this link)

Frank Marsala, First Albany Capital, reiterates "strong buy" and reiterates target of $40   We adjusted our model to reflect the company's guidance.... IDCC shares sold off more than we would have thought on the guidance, in part because of the consensus estimate being skewed by one estimate that includes the revenues. from the settlement of the company's litigation with Samsung.

.   December 6, 2006

ANALYST UPDATE   (See the full report at this link)

Casey Ryan, Nollenberger, reiterates "Buy" recommendation and reiterates share price target of $40.  We are lowering our 4Q revenue and EPS estimtes for InterDigital to $62 million and $0.32.... Product revenue opportunity may get boost from 3G launch in China.... We view Chinese 3G and TD-SCDMA development as a strong positive for InterDigital

   December 6, 2006

November 22, 2006  

ANALYST REPORTS

Five most recent Analyst Reports are available here on WirelessLedger.com.

Find descriptions and links to all of the reports HERE.

Two additional

ANALYST UPDATES

Reports issued following 3Q earnings report and news of Samsung fighting the IDCC arbitration award and the subsequent share price fall to $30. Tom Carpenter (Hilliard Lyons) (Nov 6, 2006) raises rating from underperform to neutral. David Weissman (Zacks Equity Research)   (Nov 3, 2006) raises share price target to $42 from $39.

ANALYST UPDATE

Frank Marsala, First Albany Capital, reiterates "strong buy" and reiterates target of $43.

  "Sell-off overdone"  Reiterates strong buy

.   November 2, 2006

ANALYST UPDATE

Casey Ryan, Nollenberger, reiterates "Buy" recommendation and reiterates share price target of $40.  .Reports in-line 3Q; No Samsung resolution; Valuation compelling again.    November 2, 2006

ANALYST UPDATE

"Well-positioned to grow its recurring royalty revenues by licensing 3G and emerging next generation wireless technologies to mobile handset OEMs. Reiterates "Market Outperform" and lowers share price target from $41 to $39.        November 2, 2006

October 31

2006  

ANALYST UPDATE     October 30, 2006

Casey Ryan, Nollenberger, reiterates "Buy" recommendation and reiterates share price target of $40   InterDigital is scheduled tp report 3Q results before the market open on Wednesday, November 1.  Key issues include an update on the progress of the legal dispute with Samsung and a discussion of any potential new 3G relationships.

October 7

2006  

ANALYST UPDATE      October 5, 2006

Casey Ryan, Nollenberger, reiterates "Buy" recommendation and reiterates share price target of $40  Yesterday, InterDigital announced that it has expanded its licensing relationship with Infineon, ... enabling InterDigital to provide a complete 2G wireless baseband solution for mobile handsets. ... We believe that a final settlement with Samsung remains the most critical objective for InterDigital management to focus on over the next three to six months. 

October 4,

2006

ANALYST UPDATE          October 4, 2006

Frank Marsala, First Albany Capital, reiterates strong buy and reiterates target of $43.  InterDigital announced today that it has extended its licensing arrangement with Infineon (IFX).... allows InterDigital to integrate its own 3G baseband design (WCDMA, HSDPA and HSUPA) with Infineon's 2G suite to offer a complete dual-mode 2G/3G wireless modem platform suite, including the 3G protocol stack.... This extended licensing agreement is positive for InterDigital, as it will enable the company to offer a more complete product, and will improve its chances to add new licensees for its technology solutions suite.

September

28,

2006

   Update to our

FOCUS STOCK page

Added as a research tool

for potential investors in InterDigital:

"Investor Presentation"  September, 2006

link to slide program

from website

September

26,

2006  

 S & P Quantitative Stock Report     dated September 23, 2006

September

26,

2006  

  BNY Jaywalk Update   (1 page)        dated September 25, 2006  

Reiterates consensus "Buy" rating for InterDigital.  Compares InterDigital with other companies in the technology industry, where IDCC rates an excellent 93.4 out of 100 on scale.  

September

18

2006  

BNY Jaywalk  (1 page)   Report  of September 18, 2006

Reiterates consensus "Buy" rating for InterDigital.  Compares InterDigital with other companies in the wireless communications industry, where IDCC rates very good 90 out of 100 on scale. Jaywalk is providing statistical analysis of a company's fundamental data to investment professionals. See also: Sabrient uses BNY Jaywalk computer-driven quanitative methodology to identify stocks that appear poised to outperform or underperform the market. See the Sabrient BNY Jaywalk September 6, 2006 8 page report for more of similar information/graphics.

September

16

2006  

Sabrient Systems: New Analyst Coverage of InterDigital

Initiates with "Buy" Sabrient Systems is an independent research firm providing statistical analysis of a company's fundamental data to investment professionals. Sabrient uses computer-driven quanitative methodology to identify stocks that appear poised to outperform or underperform the market (vs. retail analysts' "hands on" approach). Excellent graphics. Report (via BNY Jaywalk) dated September 6, 2006.

September 15,

2006  

ANALYST UPDATE

Casey Ryan, Nollenberger, reiterates "Buy" recommendation and reiterates share price target of $40. Samsung is following Nokia's playbook, filing suit to block payment of settlement award to IDCC. We continue to believe that payment from Samsung to IDCC could occur in 4Q2006 but see increased chance it wil slip to 2007 because of last ditch legal efforts by Samsung. We do not expect a material change in the award but concede there could be small concessions in return for final settlement.   September 15, 2006

September 14, 

2006

There have been 1,250 posts on IHub

since Samsung arbitaration decision was announced September 6th

Here's the BEST 55!

55

"Best *Posts"

related to this topic:

• InterDigital Awarded $134 Million Plus Interest in Arbitration Proceeding with Samsung for Sales Through 2005
• Tribunal Also Sets Royalty Rates for Samsung's Sales of GSM/GPRS/EDGE Terminal Units In 2006
• PLUS Tribunal settles issues in IDCC's favor
• 3G settlement not included    WHAT's NEXT?

THREE new

ANALYST UPDATES

New reports reflect InterDigital's Sept. 6, 2006 2G arbitration $170 million win from Samsung.

September 6,

2006

• InterDigital Awarded $134 Million Plus Interest in Arbitration Proceeding with Samsung for Sales Through 2005
• Tribunal Also Sets Royalty Rates for Samsung's Sales of GSM/GPRS/EDGE Terminal Units In 2006
• PLUS Tribunal settles issues in IDCC's favor
• 3G settlement not included    Sept 6 2006

September 5,

2006

ANALYST UPDATE             Sept. 5, 2006

Frank Marsala, First Albany Capital, reiterates strong buy and reiterates target of $40. Continues to believe a favorable 2G Samsung arbitration ruling coming shortly. More conservative take on amount: $60 million vs previous $115 million, but adjusted share total yields same price target. Frank Marsala provides a fascinating estimate of potential 3G royalties from Samsung based on this year's LG royalty deal. Further notes possible new strategy in US for collecting royalties based on Smoot-Hawley in which the ITC may rule to bar imports into the US of patent infringing products. Well worth reading.

SIX new

ANALYST UPDATES

Most new reports based on InterDigital's financial guidance for 3Q 2006 issued August 16, 2006

ANALYST UPDATE

Frank Marsala, First Albany Capital, reiterates strong buy and reiterates target of $40.

   IDCC reported 2nd Q results yesterday. Revenues were $4 million ahead of Marsala's previous estimates.               Aug. 3,2006

ANALYST UPDATE

Casey Ryan, Nollenberger, reiterates "Buy" recommendation and lowers share price target from $44 to $43. ."InterDigital reported stronger than expected 2Q results. The Company did not provide greater clarity on the timing of a potential setlement with Samsung, which may frustrate some investors." - Casey Ryan     Aug. 3,2006

August 4 , 2006 

ANALYST UPDATE

Importantly, InterDigital generated $209.9 million in free cash flow during 2Q06 and $278.7 million in 1H2006.... A 2G arbitration ruling with Samsung could occur over the next two months....IDCC could sign 3G agreements with other top six maufacturers this year."  Highly respected Analyst Tom Carpenter reiterates BUY and price target of $34-$39. Aug. 3,2006

ANALYST UPDATE

"InterDigital reported 2Q06 results that exceeded the Company's guidance, the consensus estimate, as well as our estimates.... InterDigital's forward-looking philosophy and active involvement in numerous standards bodies should lead to further licensing deals." Reiterates "Market Outperform" and raises share price target to $40          Aug. 3,2006

August 1 , 2006 

ANALYST UPGRADES IDCC TO "BUY"

David Weissman, Zacks Equity Research, upgrades from "hold" to "Buy" raises 6 month target price to $39 based on improved valuation projections.   Click here for more on Weissman, Zacks Equity Research and a link to the report. July 31st

INITIATING COVERAGE Report

Market Outperform and $38 share price target

"Thirty years of wireless experience, $400+ million in cash and more than 6,000 patents are tough to ignore."

Initiating Coverage Report of July 24, 2006

ANALYST UPDATE

Casey Ryan, Nollenberger, reiterates "Buy" recommendation and reiterates $44 share price target. 

"A broader agreement with Samsung could be in the works"

ANALYST UPDATE

Frank Marsala, First Albany Capital, reiterates strong buy and reiterates target of $40.

   "IDCC shares sold off almost 20% yesterday following a competitor's downgrade. With the IDCC share price at $25.89, we are presenting our valuation case for IDCC shares, and we note that IDCC now trades at a discount to its peers in the intellectual property (IP) space."

and

Could these five stocks be bear traps?' (July 4th)

and

Investors.com (IBD) article ("Chip, Software Maker (IDCC) Courts A New Identity") (July 3rd)

Articles and related posts in "Risk and Reward - Best Posts"

ANALYSTS  

ProVestor Company Report

on InterDigital compiled by Reuters services

June 22, 2006

ANALYST UPDATE

Frank Marsala, First Albany Capital, reiterates strong buy and raises target from $35 to $40 based on better market conditions. 

ANALYST UPDATE

Casey Ryan, Nollenberger, raises target in new report based on higher estimated earnings.

Reiterates Buy  Raises target to $44 from $42

ANALYST BRIEF UPDATE

IDCC one of four updated companies in brief new Frank Marsala (First Albany) report 

Strong Buy  $35 target

Frank Marsala's First Albany Updated Analyst Report  Reiterates STRONG BUY.

RAISES share price target to $35   

Casey Ryan's Nollenberger Capital Partners Analyst Report   Reiterates BUY and raises share price target to $40   (May 1, 2006) (Raises target share price to $42 May 5, 2006)