Ascent Group LLC Acquires Shares of 1,040 InterDigital, Inc. $IDCC

Key Points

• Ascent Group LLC has acquired a new stake in InterDigital, Inc. worth approximately $215,000 by purchasing 1,040 shares, according to their Form 13F filing.
• InterDigital reported a net margin of 51.92% and a revenue increase of 34.5% year-over-year, with earnings per share (EPS) of $6.52 for the last quarter, exceeding expectations.
• Roth Capital has raised their price target on InterDigital's shares from $270.00 to $350.00, maintaining a "buy" rating, reflecting growing confidence in the company's future performance.

Ascent Group LLC bought a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,040 shares of the Wireless communications provider's stock, valued at approximately $215,000.

Several other institutional investors have also added to or reduced their stakes in IDCC. GAMMA Investing LLC boosted its holdings in InterDigital by 31,724.6% in the first quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock valued at $619,810,000 after acquiring an additional 298,846 shares during the last quarter. New Vernon Capital Holdings II LLC boosted its holdings in InterDigital by 25,257.5% in the first quarter. New Vernon Capital Holdings II LLC now owns 204,889 shares of the Wireless communications provider's stock valued at $42,361,000 after acquiring an additional 204,081 shares during the last quarter. Millennium Management LLC lifted its stake in InterDigital by 3,962.5% in the fourth quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider's stock valued at $24,947,000 after buying an additional 125,610 shares during the period. Bessemer Group Inc. lifted its stake in InterDigital by 152,729.3% in the first quarter. Bessemer Group Inc. now owns 114,622 shares of the Wireless communications provider's stock valued at $23,700,000 after buying an additional 114,547 shares during the period. Finally, Nuveen LLC acquired a new position in InterDigital in the first quarter valued at approximately $20,967,000. 99.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Capital boosted their price target on 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, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $350.00.

InterDigital Stock Up 2.0%

Shares of NASDAQ:IDCC traded up $6.44 during trading on Monday, reaching $329.31. 600,269 shares of the stock were exchanged, compared to its average volume of 274,892. 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 1-year low of $134.40 and a 1-year high of $331.90. The stock has a fifty day moving average of $260.39 and a two-hundred day moving average of $229.36. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its earnings results 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. 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 analyst estimates of $167.93 million. During the same period in the prior year, the firm earned $4.57 earnings per share. InterDigital's revenue for the quarter 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. Research analysts anticipate that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

Insider Buying and Selling at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of the company's stock in a transaction on Friday, September 5th. The stock was 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 owned 66,122 shares in the company, valued at approximately $19,160,833.16. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joshua D. Schmidt sold 466 shares of the company's stock in a transaction 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 sale, the insider 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 disclosure for this sale can be found here. Insiders have sold 3,932 shares of company stock valued at $1,010,930 in the last quarter. 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.