Allianz Asset Management GmbH Grows Holdings in InterDigital, Inc. $IDCC

Allianz Asset Management GmbH lifted its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 92.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,094 shares of the Wireless communications provider's stock after acquiring an additional 63,333 shares during the period. Allianz Asset Management GmbH owned about 0.51% of InterDigital worth $29,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of InterDigital by 7.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider's stock valued at $928,000 after acquiring an additional 316 shares in the last quarter. Inspire Investing LLC raised its position in shares of InterDigital by 37.9% during 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 in the last quarter. Cerity Partners LLC raised its position in shares of InterDigital by 91.2% during the 1st quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider's stock valued at $533,000 after acquiring an additional 1,229 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of InterDigital by 3.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 43,660 shares of the Wireless communications provider's stock valued at $9,790,000 after acquiring an additional 1,502 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of InterDigital by 8.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 15,447 shares of the Wireless communications provider's stock valued at $3,462,000 after acquiring an additional 1,215 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Rajesh Pankaj sold 1,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $261.03, for a total transaction of $261,030.00. Following the transaction, the chief technology officer directly owned 67,122 shares of the company's stock, valued at approximately $17,520,855.66. This trade represents a 1.47% 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 firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $273.12, for a total value of $127,273.92. Following the transaction, the insider directly owned 28,370 shares of the company's stock, valued at $7,748,414.40. This represents a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,466 shares of company stock worth $1,016,164 over the last three months. Corporate insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IDCC shares. Jefferies Financial Group reissued a "hold" rating and set a $340.00 price target on shares of InterDigital in a research report on Monday, September 29th. Weiss Ratings raised InterDigital from a "buy (b+)" rating to a "buy (a)" rating in a research report on Tuesday, October 14th. William Blair reaffirmed an "outperform" rating on shares of InterDigital in a research report on Monday, September 22nd. Finally, Roth Capital increased their target price on InterDigital from $270.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $345.00.

InterDigital Price Performance

Shares of IDCC opened at $366.85 on Friday. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.44. 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 one year low of $144.46 and a one year high of $369.58. The stock's fifty day moving average is $312.51 and its 200-day moving average is $251.40.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued 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. The company had revenue of $300.60 million for the quarter, compared to analyst estimates of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The company's quarterly revenue was up 34.5% compared to the same quarter last year. During the same period last year, the company earned $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. Equities analysts anticipate that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from InterDigital's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Wednesday, October 8th. InterDigital's dividend payout ratio is 19.96%.

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.

Want to see what other hedge funds are holding IDCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterDigital, Inc. (NASDAQ:IDCC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.