Apollon Wealth Management LLC Raises Holdings in InterDigital, Inc. $IDCC

Key Points

• Apollon Wealth Management LLC increased its holdings in InterDigital, Inc. by 162.9% during the 2nd quarter, bringing its total stake to 6,314 shares valued at approximately $1.4 million.
• InterDigital reported significantly positive earnings, with EPS of $6.52 for the last quarter, surpassing analyst expectations and showing a year-over-year revenue increase of 34.5%.
• The company announced a dividend increase to $0.70 per share, effective October 22nd, raising its annualized dividend to $2.80 and reflecting a dividend yield of 0.8%.

Apollon Wealth Management LLC boosted its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 162.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,314 shares of the Wireless communications provider's stock after purchasing an additional 3,912 shares during the quarter. Apollon Wealth Management LLC's holdings in InterDigital were worth $1,416,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of InterDigital in the 1st quarter valued at about $32,000. Banque Transatlantique SA purchased a new position in shares of InterDigital in the 1st quarter valued at about $33,000. Headlands Technologies LLC purchased a new position in shares of InterDigital in the 1st quarter valued at about $35,000. Concord Wealth Partners purchased a new position in shares of InterDigital in the 1st quarter valued at about $37,000. Finally, Global Wealth Strategies & Associates purchased a new position in shares of InterDigital in the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Trading Up 4.9%

Shares of IDCC stock opened at $356.72 on Tuesday. The business's 50 day moving average is $304.77 and its two-hundred day moving average is $247.31. InterDigital, Inc. has a twelve month low of $144.46 and a twelve month high of $361.56. The company has a market capitalization of $9.20 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 1.67 and a beta of 1.44. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, beating the consensus estimate of $2.77 by $3.75. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The company had revenue of $300.60 million for the quarter, compared to the consensus estimate of $167.93 million. During the same period last year, the business posted $4.57 EPS. The company's revenue was up 34.5% on a year-over-year basis. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. Equities analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be paid a $0.70 dividend. This is an increase from InterDigital's previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, October 8th. This represents a $2.80 annualized dividend and a dividend yield of 0.8%. InterDigital's dividend payout ratio (DPR) is 19.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IDCC shares. William Blair reiterated an "outperform" rating on shares of InterDigital in a report on Monday, September 22nd. Roth Capital increased their price objective on InterDigital from $270.00 to $350.00 and gave the company a "buy" rating in a report on Friday, September 12th. Weiss Ratings restated a "buy (b)" rating on shares of InterDigital in a research note on Saturday, September 27th. Finally, Jefferies Financial Group restated a "hold" rating and set a $340.00 price target on shares of InterDigital in a research note on Monday, September 29th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $345.00.

Insider Activity at InterDigital

In other news, insider Joshua D. Schmidt sold 466 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $273.12, for a total value of $127,273.92. Following the completion of the sale, the insider directly owned 28,370 shares of the company's stock, valued at $7,748,414.40. This trade represents a 1.62% decrease in their position. The transaction 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 firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $261.03, for a total value of $261,030.00. Following the completion of the sale, the chief technology officer directly owned 67,122 shares of the company's stock, valued at $17,520,855.66. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,466 shares of company stock worth $1,016,164 over the last quarter. Company insiders own 2.30% of the company's stock.

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.

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