AQR Capital Management LLC Decreases Stock Holdings in InterDigital, Inc. $IDCC

Key Points

• AQR Capital Management LLC reduced its holdings in InterDigital, Inc. by 5.6%, now owning $7.71 million worth of shares, after selling 2,206 shares in the first quarter.
• Other institutional investors, including Wealth Enhancement Advisory Services and Cerity Partners, have recently increased their positions in InterDigital, contributing to a current institutional ownership of 99.83%.
• InterDigital reported a 34.5% increase in revenue and beat earnings estimates with a reported $6.52 EPS for the last quarter.

AQR Capital Management LLC trimmed its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,494 shares of the Wireless communications provider's stock after selling 2,206 shares during the quarter. AQR Capital Management LLC owned approximately 0.14% of InterDigital worth $7,709,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Elequin Capital LP acquired a new position in InterDigital in the 4th quarter valued at about $29,000. Wayfinding Financial LLC acquired a new position in InterDigital in the 1st quarter valued at $32,000. Headlands Technologies LLC acquired a new position in InterDigital in the 1st quarter valued at $35,000. Concord Wealth Partners bought a new position in shares of InterDigital in the 1st quarter valued at $37,000. Finally, Versant Capital Management Inc increased its stake in shares of InterDigital by 957.9% in the 1st quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock valued at $42,000 after purchasing an additional 182 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

InterDigital Trading Up 2.0%

Shares of NASDAQ:IDCC traded up $6.44 during midday trading on Monday, reaching $329.31. The company's stock had a trading volume of 600,263 shares, compared to its average volume of 326,535. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a 50 day moving average price of $258.33 and a two-hundred day moving average price of $228.55. InterDigital, Inc. has a fifty-two week low of $134.40 and a fifty-two week high of $331.90.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the business earned $4.57 EPS. The firm's 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. As a group, analysts forecast that InterDigital, Inc. will post 9.21 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, insider Joshua D. Schmidt sold 466 shares of the 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 represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 approximately $17,520,855.66. This trade represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,932 shares of company stock worth $1,010,930. 2.80% of the stock is owned by company insiders.

About InterDigital

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.