3,937 Shares in InterDigital, Inc. $IDCC Acquired by Novem Group

Novem Group purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,937 shares of the Wireless communications provider's stock, valued at approximately $883,000.

Several other institutional investors have also made changes to their positions in IDCC. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of InterDigital by 4.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,173 shares of the Wireless communications provider's stock worth $808,000 after purchasing an additional 160 shares during the period. Versant Capital Management Inc boosted its holdings in shares of InterDigital by 957.9% during the first quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock worth $42,000 after purchasing an additional 182 shares during the period. GAMMA Investing LLC boosted its holdings in shares of InterDigital by 31,724.6% during the first quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock worth $619,810,000 after purchasing an additional 298,846 shares during the period. Weybosset Research & Management LLC acquired a new stake in shares of InterDigital during the first quarter worth approximately $208,000. Finally, Portside Wealth Group LLC acquired a new stake in shares of InterDigital during the first quarter worth approximately $321,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Roth Capital raised their price target on shares of InterDigital from $270.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 12th. William Blair reaffirmed an "outperform" rating on shares of InterDigital in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, InterDigital has a consensus rating of "Buy" and an average target price of $350.00.

Insider Buying and Selling at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $261.03, for a total value of $261,030.00. Following the transaction, the chief technology officer owned 67,122 shares in the company, valued at $17,520,855.66. This trade represents a 1.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joshua D. Schmidt sold 466 shares of InterDigital stock in a transaction on Friday, August 29th. The stock was sold at an average price of $273.12, for a total transaction of $127,273.92. Following the completion of the transaction, the insider owned 28,370 shares in the company, valued at $7,748,414.40. This trade represents a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,932 shares of company stock worth $1,010,930 in the last quarter. Insiders own 2.80% of the company's stock.

InterDigital Price Performance

Shares of IDCC opened at $345.05 on Friday. The firm has a market cap of $8.90 billion, a PE ratio of 24.59, a PEG ratio of 1.67 and a beta of 1.42. The firm's 50 day moving average price is $280.54 and its 200 day moving average price is $237.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. InterDigital, Inc. has a twelve month low of $138.62 and a twelve month high of $360.30.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $3.75. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The company had revenue of $300.60 million for the quarter, compared to analyst estimates of $167.93 million. During the same quarter last year, the firm posted $4.57 earnings per share. The company's quarterly revenue was up 34.5% compared to the same quarter last year. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. As a group, research analysts expect that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be issued a $0.70 dividend. This is a boost from InterDigital's previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, October 8th. This represents a $2.80 annualized dividend and a yield of 0.8%. InterDigital's payout ratio is 19.96%.

InterDigital Profile

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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