City Center Advisors LLC Invests $209,000 in InterDigital, Inc. $IDCC

Key Points

• City Center Advisors LLC invested $209,000 in InterDigital, acquiring 932 shares of the company during the second quarter.
• InterDigital reported quarterly earnings of $6.52 per share, significantly surpassing estimates and demonstrating a 34.5% year-over-year revenue increase.
• Analysts have increased their price target for InterDigital from $270 to $350, maintaining a "buy" rating for the stock.

City Center Advisors LLC bought a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 932 shares of the Wireless communications provider's stock, valued at approximately $209,000.

A number of other large investors have also modified their holdings of IDCC. Cetera Investment Advisers raised its stake in shares of InterDigital by 20.2% in the fourth quarter. Cetera Investment Advisers now owns 2,902 shares of the Wireless communications provider's stock valued at $562,000 after purchasing an additional 487 shares in the last quarter. Deutsche Bank AG raised its stake in shares of InterDigital by 40.9% in the fourth quarter. Deutsche Bank AG now owns 29,668 shares of the Wireless communications provider's stock valued at $5,747,000 after purchasing an additional 8,616 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of InterDigital by 12.5% in the fourth quarter. Janus Henderson Group PLC now owns 12,214 shares of the Wireless communications provider's stock valued at $2,367,000 after purchasing an additional 1,360 shares in the last quarter. Millennium Management LLC raised its stake in shares of 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 purchasing an additional 125,610 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of InterDigital in the fourth quarter valued at $237,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Stock Performance

InterDigital stock opened at $322.87 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96. The stock has a fifty day moving average price of $258.33 and a two-hundred day moving average price of $228.42. InterDigital, Inc. has a 52-week low of $132.98 and a 52-week high of $327.49. The firm has a market capitalization of $8.33 billion, a P/E ratio of 23.01, a P/E/G ratio of 1.62 and a beta of 1.42.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $167.93 million. During the same period in the prior year, the company posted $4.57 earnings per share. The business's revenue for the quarter 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 anticipate that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Roth Capital upped their target price 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 data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $350.00.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 466 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $273.12, for a total transaction of $127,273.92. Following the completion of the transaction, the insider directly owned 28,370 shares in the company, valued at $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 SEC, which can be accessed through this link. Also, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction 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 sale, the chief technology officer owned 67,122 shares in the company, valued at $17,520,855.66. The trade was a 1.47% 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 over the last quarter. Corporate insiders own 2.80% of the company's stock.

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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