Intech Investment Management LLC Sells 18,638 Shares of InterDigital, Inc. $IDCC

by · The Cerbat Gem

Intech Investment Management LLC lowered its position in shares of InterDigital, Inc. (NASDAQ:IDCC – Free Report) by 20.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,267 shares of the Wireless communications provider’s stock after selling 18,638 shares during the period. Intech Investment Management LLC owned about 0.28% of InterDigital worth $15,980,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of IDCC. Bank of Montreal Can raised its holdings in InterDigital by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 109,222 shares of the Wireless communications provider’s stock valued at $24,491,000 after buying an additional 911 shares during the last quarter. Inspire Investing LLC increased its position in InterDigital by 37.9% in the 1st quarter. Inspire Investing LLC now owns 15,227 shares of the Wireless communications provider’s stock valued at $3,148,000 after acquiring an additional 4,188 shares during the period. Bessemer Group Inc. raised its stake in shares of InterDigital by 6.1% during the second quarter. Bessemer Group Inc. now owns 121,627 shares of the Wireless communications provider’s stock valued at $27,273,000 after acquiring an additional 7,005 shares during the last quarter. Ethos Financial Group LLC acquired a new position in shares of InterDigital during the second quarter worth $224,000. Finally, State of Alaska Department of Revenue grew its stake in shares of InterDigital by 8.5% in the second quarter. State of Alaska Department of Revenue now owns 15,447 shares of the Wireless communications provider’s stock worth $3,462,000 after purchasing an additional 1,215 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CTO Rajesh Pankaj sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $375.31, for a total value of $375,310.00. Following the completion of the sale, the chief technology officer directly owned 64,157 shares of the company’s stock, valued at $24,078,763.67. The trade was a 1.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $395.63, for a total value of $184,363.58. Following the completion of the sale, the insider directly owned 27,928 shares of the company’s stock, valued at $11,049,154.64. This trade represents a 1.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,182 shares of company stock worth $2,026,625 in the last three months. Company insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. William Blair reissued an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Roth Capital upped their target price on InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a report on Friday, September 12th. Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of InterDigital in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $412.50.

Check Out Our Latest Report on IDCC

InterDigital Price Performance

InterDigital stock opened at $348.44 on Friday. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.88 and a beta of 1.45. InterDigital, Inc. has a 52-week low of $169.58 and a 52-week high of $412.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. The stock’s 50 day moving average price is $353.21 and its two-hundred day moving average price is $276.08.

InterDigital (NASDAQ:IDCC – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The Wireless communications provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.14. The company had revenue of $164.68 million during the quarter, compared to analyst estimates of $153.43 million. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. InterDigital’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. InterDigital has set its FY 2025 guidance at 14.570-14.830 EPS. Q4 2025 guidance at 1.380-1.630 EPS. On average, equities analysts predict that InterDigital, Inc. will post 9.21 earnings per share for the current year.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were given a dividend of $0.70 per share. This is a boost from InterDigital’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. InterDigital’s payout ratio is currently 18.89%.

InterDigital Profile

(Free Report)

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.

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