Gallacher Capital Management LLC Invests $200,000 in InterDigital, Inc. $IDCC

Key Points

• Gallacher Capital Management LLC acquired a new position in InterDigital, buying 893 shares valued at approximately $200,000 in the second quarter.
• Analysts, including Roth Capital, have set a new price target for InterDigital at $350.00, indicating a "buy" rating and reflecting positive sentiment toward the company's stock.
• InterDigital recently posted quarterly earnings of $6.52 EPS, significantly exceeding expectations of $2.77, with a revenue increase of 34.5% year-over-year to $300.60 million.

Gallacher Capital Management LLC bought a new position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 893 shares of the Wireless communications provider's stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of InterDigital by 7.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider's stock worth $928,000 after acquiring an additional 316 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of InterDigital by 37.9% in the 1st quarter. Inspire Investing LLC now owns 15,227 shares of the Wireless communications provider's stock worth $3,148,000 after acquiring an additional 4,188 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of InterDigital by 91.2% in the 1st quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider's stock worth $533,000 after acquiring an additional 1,229 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of InterDigital in the 1st quarter worth approximately $214,000. Finally, Envestnet Asset Management Inc. lifted its holdings in InterDigital by 8.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 146,384 shares of the Wireless communications provider's stock worth $30,265,000 after buying an additional 11,411 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $261.03, for a total transaction of $261,030.00. Following the completion of the transaction, the chief technology officer directly owned 67,122 shares in the company, valued at $17,520,855.66. This represents a 1.47% decrease in their position. The transaction 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 stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $273.12, for a total transaction of $127,273.92. Following the transaction, the insider owned 28,370 shares of the company's stock, valued at approximately $7,748,414.40. This represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,932 shares of company stock valued at $1,010,930. Corporate insiders own 2.80% of the company's stock.

InterDigital Trading Down 1.3%

Shares of IDCC traded down $4.40 during trading hours on Friday, reaching $334.81. The stock had a trading volume of 768,534 shares, compared to its average volume of 327,921. The firm has a 50-day moving average of $266.57 and a 200 day moving average of $231.58. The company has a market cap of $8.64 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.63 and a beta of 1.42. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 52 week low of $136.58 and a 52 week high of $341.47.

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

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be issued a dividend of $0.70 per share. 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 dividend on an annualized basis and a yield of 0.8%. InterDigital's dividend payout ratio is currently 17.11%.

Wall Street Analysts Forecast Growth

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

InterDigital Company 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.