Boston Trust Walden Corp Sells 5,751 Shares of InterDigital, Inc. $IDCC

Key Points

• Boston Trust Walden Corp sold 5,751 shares of InterDigital, Inc., reducing its holdings by 2.1% to 267,255 shares valued at approximately $59.9 million as of the end of the last quarter.
• Analysts have a consensus rating of "Moderate Buy" for InterDigital, with a price target averaging $345.00, after recent upgrades from Roth Capital and Weiss Ratings.
• The company announced a quarterly dividend increase, raising it from $0.60 to $0.70 per share, representing an annualized yield of 0.8%.

Boston Trust Walden Corp decreased its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,255 shares of the Wireless communications provider's stock after selling 5,751 shares during the quarter. Boston Trust Walden Corp owned about 1.03% of InterDigital worth $59,927,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of InterDigital by 2.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,029 shares of the Wireless communications provider's stock worth $455,000 after acquiring an additional 54 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of InterDigital by 3.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,914 shares of the Wireless communications provider's stock worth $396,000 after acquiring an additional 59 shares during the period. Leavell Investment Management Inc. lifted its position in shares of InterDigital by 3.4% in the 1st quarter. Leavell Investment Management Inc. now owns 1,844 shares of the Wireless communications provider's stock worth $381,000 after acquiring an additional 60 shares during the period. Flagship Harbor Advisors LLC lifted its position in shares of InterDigital by 4.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,821 shares of the Wireless communications provider's stock worth $377,000 after acquiring an additional 75 shares during the period. Finally, RHS Financial LLC lifted its position in shares of InterDigital by 4.1% in the 2nd quarter. RHS Financial LLC now owns 2,045 shares of the Wireless communications provider's stock worth $459,000 after acquiring an additional 81 shares during the period. Institutional investors own 99.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IDCC. Roth Capital raised their price objective on InterDigital from $270.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of InterDigital in a research report on Saturday, September 27th. Jefferies Financial Group reiterated a "hold" rating and issued a $340.00 price objective on shares of InterDigital in a research report on Monday, September 29th. Finally, William Blair reiterated an "outperform" rating on shares of InterDigital in a research report on Monday, September 22nd. 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 data from MarketBeat, InterDigital presently has a consensus rating of "Moderate Buy" and an average target price of $345.00.

Insiders Place Their Bets

In related news, CTO Rajesh Pankaj sold 1,000 shares of the firm's stock in a transaction on Monday, October 6th. The stock was 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 directly owned 65,122 shares of the company's stock, valued at $22,016,445.76. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 466 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $273.12, for a total value of $127,273.92. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 3,466 shares of company stock valued at $1,016,164 over the last ninety days. Insiders own 2.30% of the company's stock.

InterDigital Trading Up 4.9%

IDCC stock opened at $356.72 on Tuesday. The business has a fifty day moving average price of $304.77 and a 200 day moving average price of $247.31. InterDigital, Inc. has a fifty-two week low of $144.46 and a fifty-two week high of $361.56. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 1.67 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 (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share 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 firm had revenue of $300.60 million during the quarter, compared to analysts' expectations of $167.93 million. During the same period last year, the firm posted $4.57 EPS. The business'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. Analysts expect that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. This is a positive change from InterDigital's previous quarterly dividend of $0.60. InterDigital's payout ratio is 19.96%.

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.

Want to see what other hedge funds are holding IDCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterDigital, Inc. (NASDAQ:IDCC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.