Financiere des Professionnels Fonds d investissement inc. Acquires New Holdings in InterDigital, Inc. $IDCC

Key Points

• Financiere des Professionnels Fonds d investissement inc. has acquired 783 shares of InterDigital, Inc. valued at approximately $176,000, marking a new investment in the wireless communications provider.
• InterDigital reported a significant earnings beat for the last quarter, with an EPS of $6.52 compared to the consensus estimate of $2.77, along with a revenue of $300.60 million.
• The company announced an increase in its quarterly dividend from $0.60 to $0.70 per share, reflecting a commitment to returning value to shareholders.

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 783 shares of the Wireless communications provider's stock, valued at approximately $176,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IDCC. Oppenheimer Asset Management Inc. grew its position in shares of InterDigital by 3.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 1,914 shares of the Wireless communications provider's stock valued at $396,000 after purchasing an additional 59 shares during the period. Leavell Investment Management Inc. lifted its stake in InterDigital by 3.4% in the 1st quarter. Leavell Investment Management Inc. now owns 1,844 shares of the Wireless communications provider's stock valued at $381,000 after buying an additional 60 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in InterDigital by 4.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,821 shares of the Wireless communications provider's stock worth $377,000 after buying an additional 75 shares during the last quarter. Xponance Inc. increased its stake in InterDigital by 5.5% during the 1st quarter. Xponance Inc. now owns 1,923 shares of the Wireless communications provider's stock worth $398,000 after buying an additional 100 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV raised its holdings in shares of InterDigital by 0.8% during the second quarter. Rowlandmiller & PARTNERS.ADV now owns 12,125 shares of the Wireless communications provider's stock valued at $2,719,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Roth Capital lifted their price target on InterDigital from $270.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, InterDigital has a consensus rating of "Buy" and an average target price of $350.00.

Insider Activity

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $289.78, for a total transaction of $289,780.00. Following the transaction, the chief technology officer directly owned 66,122 shares of the company's stock, valued at $19,160,833.16. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of the business's stock in a transaction dated Friday, August 29th. The shares were 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. The trade was a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,932 shares of company stock valued at $1,010,930. 2.30% of the stock is owned by company insiders.

InterDigital Price Performance

Shares of InterDigital stock traded up $11.68 on Monday, hitting $346.49. 355,273 shares of the company were exchanged, compared to its average volume of 328,036. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $271.15 and a 200 day moving average price of $233.75. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 1.67 and a beta of 1.42. InterDigital, Inc. has a 1-year low of $136.58 and a 1-year high of $360.30.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $3.75. The firm had revenue of $300.60 million for the quarter, compared to the consensus estimate of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The firm's revenue was up 34.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.57 earnings per share. 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, sell-side analysts predict that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently disclosed 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 an increase from InterDigital's previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, October 8th. InterDigital's payout ratio is currently 17.11%.

About InterDigital

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.