InterDigital, Inc. $IDCC Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC dramatically increased its holdings in InterDigital, Inc. by 1,556.8%, acquiring an additional 97,720 shares, bringing its total ownership to about 0.40% worth $21.49 million.
• Institutional investors dominate InterDigital, owning approximately 99.83% of the company's stock, indicating strong confidence in the firm.
• InterDigital reported $6.52 earnings per share for the last quarter, significantly surpassing the consensus estimate of $2.77, with revenues increasing by 34.5% year-over-year.

Acadian Asset Management LLC raised its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 1,556.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,997 shares of the Wireless communications provider's stock after buying an additional 97,720 shares during the period. Acadian Asset Management LLC owned about 0.40% of InterDigital worth $21,488,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Elequin Capital LP bought a new stake in shares of InterDigital during the fourth quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new stake in shares of InterDigital during the first quarter valued at approximately $32,000. Headlands Technologies LLC bought a new stake in shares of InterDigital during the first quarter valued at approximately $35,000. Banque Transatlantique SA bought a new stake in shares of InterDigital during the first quarter valued at approximately $33,000. Finally, Concord Wealth Partners bought a new stake in shares of InterDigital during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 99.83% of the company's stock.

Insiders Place Their Bets

In other news, insider Joshua D. Schmidt sold 466 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $273.12, for a total transaction of $127,273.92. Following the sale, the insider directly owned 28,370 shares of the company's stock, valued at $7,748,414.40. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Rajesh Pankaj sold 1,000 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $289.78, for a total transaction of $289,780.00. Following the completion of the sale, the chief technology officer directly owned 66,122 shares in the company, valued at approximately $19,160,833.16. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,932 shares of company stock worth $1,010,930 over the last three months. Corporate insiders own 2.80% of the company's stock.

InterDigital Stock Up 2.0%

Shares of InterDigital stock traded up $6.44 during trading on Monday, reaching $329.31. The company's stock had a trading volume of 600,269 shares, compared to its average volume of 326,535. 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 market cap of $8.50 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 1.61 and a beta of 1.42. InterDigital, Inc. has a 1-year low of $134.40 and a 1-year high of $331.90. The company has a 50-day simple moving average of $258.33 and a two-hundred day simple moving average of $228.55.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share 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 business's quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter last year, the firm 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. As a group, equities analysts forecast that InterDigital, Inc. will post 9.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.