InterDigital double-downgraded at BofA on limited growth opportunities [Seeking Alpha]
PANASONIC HLDS CP S/ADR (PCRFY)
NASDAQ:AMEX Investor Relations:
panasonic.com/global/corporate/ir.html
Company Research
Source: Seeking Alpha
The firm also reduced the price target on the stock to $100 from $140. Shares of InterDigital — a research and development company focued on wireless, visual, artificial intelligence, or AI related technologies — have soared about 47% in the last 12 months, mostly on a few consecutive quarters of solid growth. Growth was driven by new licensing agreements with Lenovo, Panasonic, and others, as well as 162% year-over-year growth in non-recurring revenues, which are mainly related to catch-up payments that are one-time in nature, noted a team of analysts led by Tal Liani. "Going forward, we flag risks to the 2024 estimates and forecast negative growth rates in 2025. To put the past performance into perspective, in 2023 revenues grew 20% overall, yet excluding the contribution of one-time, non-recurring revenues, topline only grew 1% YoY," said Liani and his team in the research note. The analysts noted that the company's growth is highly dependent on the recurring smartphone ro
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