Assenagon Asset Management S.A. Has $2.60 Million Position in InterDigital, Inc. $IDCC

Key Points

• Assenagon Asset Management S.A. increased its stake in InterDigital, Inc. by 7.8%, bringing its total position to $2.60 million with 11,586 shares owned as of the latest SEC filing.
• InterDigital reported a quarterly earnings per share (EPS) of $6.52, significantly exceeding the consensus estimate of $2.77, and set its FY 2025 EPS guidance between 14.170-14.770.
• InterDigital has announced a quarterly dividend increase to $0.70 per share, up from the previous dividend of $0.60, with the ex-dividend date set for October 8th.

Assenagon Asset Management S.A. lifted its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,586 shares of the Wireless communications provider's stock after buying an additional 842 shares during the period. Assenagon Asset Management S.A.'s holdings in InterDigital were worth $2,598,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Wayfinding Financial LLC purchased a new position in InterDigital during the 1st quarter valued at about $32,000. Banque Transatlantique SA purchased a new position in InterDigital during the first quarter valued at approximately $33,000. Headlands Technologies LLC purchased a new position in InterDigital during the first quarter valued at approximately $35,000. Concord Wealth Partners acquired a new position in InterDigital in the 1st quarter valued at approximately $37,000. Finally, Global Wealth Strategies & Associates purchased a new stake in InterDigital in the 2nd quarter worth approximately $38,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 approximately $7,748,414.40. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Rajesh Pankaj sold 1,000 shares of the business'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 in the company, valued at $17,520,855.66. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,932 shares of company stock valued at $1,010,930 in the last three months. 2.80% of the stock is owned by insiders.

InterDigital Stock Performance

Shares of NASDAQ IDCC opened at $338.94 on Friday. The business's 50-day simple moving average is $278.14 and its 200-day simple moving average is $236.21. 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 52 week low of $137.01 and a 52 week high of $360.30. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 1.70 and a beta of 1.42.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, beating the consensus estimate of $2.77 by $3.75. The company had revenue of $300.60 million for the quarter, compared to the consensus estimate of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The company's revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter last year, the company posted $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. As a group, equities research analysts expect that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, October 8th. This is a boost from InterDigital's previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. InterDigital's dividend payout ratio is presently 17.11%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Roth Capital upped their price target on shares of InterDigital from $270.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. William Blair reaffirmed an "outperform" rating on shares of InterDigital in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $350.00.

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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