Congress Asset Management Co. Has $77.08 Million Stock Holdings in InterDigital, Inc. $IDCC

Key Points

• Congress Asset Management Co. increased its stake in InterDigital by 1.4%, now owning 343,752 shares valued at approximately $77.08 million.
• Analysts have raised InterDigital's price target from $270 to $350, with a consensus rating of "Buy" from two research analysts.
• InterDigital recently announced a quarterly dividend increase to $0.70, reflecting a 0.8% yield and a payout ratio of 17.11%.

Congress Asset Management Co. boosted its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 1.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 343,752 shares of the Wireless communications provider's stock after purchasing an additional 4,651 shares during the quarter. Congress Asset Management Co. owned 1.33% of InterDigital worth $77,079,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of IDCC. Wealth Enhancement Advisory Services LLC boosted its position in shares of InterDigital by 7.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider's stock worth $928,000 after purchasing an additional 316 shares in the last quarter. Inspire Investing LLC lifted its holdings in InterDigital by 37.9% during the first quarter. Inspire Investing LLC now owns 15,227 shares of the Wireless communications provider's stock worth $3,148,000 after acquiring an additional 4,188 shares in the last quarter. Cerity Partners LLC grew its stake in InterDigital by 91.2% in the first quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider's stock valued at $533,000 after acquiring an additional 1,229 shares during the period. Harbor Capital Advisors Inc. grew its stake in InterDigital by 3.6% in the second quarter. Harbor Capital Advisors Inc. now owns 43,660 shares of the Wireless communications provider's stock valued at $9,790,000 after acquiring an additional 1,502 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in shares of InterDigital in the first quarter worth about $214,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IDCC has been the topic of several recent analyst reports. Roth Capital lifted their price objective on InterDigital from $270.00 to $350.00 and gave the company a "buy" rating in a report on Friday, September 12th. William Blair reaffirmed an "outperform" rating on shares of InterDigital in a research note on Monday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, InterDigital presently has a consensus rating of "Buy" and an average price target of $350.00.

InterDigital Stock Down 2.1%

NASDAQ:IDCC opened at $338.94 on Friday. The stock has a 50-day simple moving average of $278.14 and a 200 day simple moving average of $236.21. InterDigital, Inc. has a 52-week low of $137.01 and a 52-week high of $360.30. The company has a market cap of $8.74 billion, a PE ratio of 24.16, a PEG ratio of 1.70 and a beta of 1.42. 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 (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, topping analysts' consensus estimates of $2.77 by $3.75. The firm had revenue of $300.60 million during 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 business's revenue was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.57 EPS. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. On average, sell-side analysts expect that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

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

Insider Buying and Selling at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer directly owned 66,122 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Joshua D. Schmidt sold 466 shares of the business's 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 transaction, the insider directly owned 28,370 shares in the company, 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 sold a total of 3,932 shares of company stock worth $1,010,930 over the last quarter. Company insiders own 2.80% of the company's stock.

InterDigital 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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