Allspring Global Investments Holdings LLC Has $8.98 Million Position in InterDigital, Inc. $IDCC

Allspring Global Investments Holdings LLC lessened its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 7.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,454 shares of the Wireless communications provider's stock after selling 3,246 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of InterDigital worth $8,975,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IDCC. Wealth Enhancement Advisory Services LLC raised its holdings in InterDigital by 7.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider's stock worth $928,000 after buying an additional 316 shares during the last quarter. Inspire Investing LLC raised its holdings in InterDigital by 37.9% during the first quarter. Inspire Investing LLC now owns 15,227 shares of the Wireless communications provider's stock worth $3,148,000 after buying an additional 4,188 shares during the last quarter. Cerity Partners LLC raised its holdings in InterDigital by 91.2% during the first quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider's stock worth $533,000 after buying an additional 1,229 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in InterDigital by 3.6% during the second quarter. Harbor Capital Advisors Inc. now owns 43,660 shares of the Wireless communications provider's stock worth $9,790,000 after buying an additional 1,502 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in InterDigital by 8.5% during the second quarter. State of Alaska Department of Revenue now owns 15,447 shares of the Wireless communications provider's stock worth $3,462,000 after buying an additional 1,215 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

InterDigital Stock Performance

Shares of IDCC stock opened at $366.85 on Monday. The firm has a 50-day moving average of $312.51 and a 200-day moving average of $251.78. The company has a market cap of $9.46 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.80 and a beta of 1.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96. InterDigital, Inc. has a one year low of $144.46 and a one year high of $369.58.

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 (EPS) for the quarter, topping 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 business had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. During the same quarter last year, the company posted $4.57 earnings per share. The firm'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. Equities research analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

The business 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 dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. This is a boost from InterDigital's previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, October 8th. InterDigital's dividend payout ratio is 19.96%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IDCC. Jefferies Financial Group restated a "hold" rating and set a $340.00 price objective on shares of InterDigital in a report on Monday, September 29th. Weiss Ratings upgraded shares of InterDigital from a "buy (b+)" rating to a "buy (a)" rating in a report on Tuesday, October 14th. Roth Capital upped their price objective on shares of InterDigital from $270.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Finally, William Blair reiterated an "outperform" rating on shares of InterDigital in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, InterDigital presently has an average rating of "Buy" and an average price target of $345.00.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of the firm's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the sale, the chief technology officer owned 65,122 shares in the company, valued at approximately $22,016,445.76. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 $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 valued at $1,016,164 in the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

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.

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