California State Teachers Retirement System Grows Stock Holdings in InterDigital, Inc. $IDCC

California State Teachers Retirement System raised its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 27,779.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,412,642 shares of the Wireless communications provider's stock after acquiring an additional 8,382,467 shares during the quarter. California State Teachers Retirement System owned approximately 32.59% of InterDigital worth $2,381,871,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Keating Financial Advisory Services Inc. purchased a new position in InterDigital during the 2nd quarter worth approximately $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of InterDigital during the fourth quarter worth about $26,000. Anchor Investment Management LLC acquired a new position in InterDigital in the 1st quarter valued at about $30,000. Leonteq Securities AG purchased a new stake in InterDigital during the 4th quarter valued at approximately $35,000. Finally, Hantz Financial Services Inc. grew its stake in shares of InterDigital by 219.0% in the 4th quarter. Hantz Financial Services Inc. now owns 134 shares of the Wireless communications provider's stock valued at $43,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Trading Up 1.1%

NASDAQ IDCC opened at $350.13 on Friday. The company has a market cap of $9.04 billion, a P/E ratio of 40.38 and a beta of 1.43. InterDigital, Inc. has a 12 month low of $249.14 and a 12 month high of $412.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.74 and a quick ratio of 1.74. The company has a 50-day moving average of $310.29 and a 200-day moving average of $310.95.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its earnings results on Thursday, July 30th. The Wireless communications provider reported $4.62 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $3.72. The business had revenue of $260.17 million for the quarter, compared to the consensus estimate of $143.10 million. InterDigital had a net margin of 38.32% and a return on equity of 28.17%. The business's revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $6.52 EPS. InterDigital has set its FY 2026 guidance at 10.850-12.810 EPS and its Q3 2026 guidance at 1.940-2.130 EPS. As a group, equities analysts predict that InterDigital, Inc. will post 9.76 earnings per share for the current year.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 14th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This is an increase from InterDigital's previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.9%. InterDigital's dividend payout ratio is 32.30%.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 1,500 shares of InterDigital stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $338.00, for a total value of $507,000.00. Following the completion of the sale, the chief technology officer owned 65,016 shares in the company, valued at approximately $21,975,408. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joan Gillman sold 300 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $331.06, for a total transaction of $99,318.00. Following the completion of the sale, the director directly owned 22,736 shares in the company, valued at $7,526,980.16. This represents a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 5,200 shares of company stock valued at $1,642,638. 3.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on IDCC. Weiss Ratings cut shares of InterDigital from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Zacks Research raised InterDigital from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, InterDigital presently has an average rating of "Buy" and an average target price of $450.00.

About InterDigital

InterDigital, Inc is a wireless technology research and development company that designs and develops advanced technologies used in mobile and other connected devices. Its work spans cellular communications, including 2G, 3G, 4G LTE and 5G, as well as wireless connectivity, video technologies and the Internet of Things.

The company primarily generates revenue by licensing its intellectual property to manufacturers of wireless products and other technology companies. Its portfolio includes patents and technical contributions related to wireless standards, network performance, spectrum efficiency, device connectivity and multimedia communications.

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