Empowered Funds LLC Sells 78,778 Shares of InterDigital, Inc. $IDCC

Key Points

• Empowered Funds LLC cut its InterDigital position by 90% in the first quarter, selling 78,778 shares and retaining 8,738 shares valued at approximately $2.64 million. Institutional investors collectively own 99.83% of the company.
• InterDigital reported quarterly EPS of $4.62, significantly exceeding the $0.90 consensus estimate, while revenue reached $260.17 million versus expectations of $143.10 million. However, revenue declined 13.4% year over year.
• Analysts maintain a consensus “Buy” rating with a $416.67 price target, while the company pays a quarterly dividend of $0.70, representing a 0.9% annualized yield.

Empowered Funds LLC lowered its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 90.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,738 shares of the Wireless communications provider's stock after selling 78,778 shares during the period. Empowered Funds LLC's holdings in InterDigital were worth $2,639,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in InterDigital by 62.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,222,111 shares of the Wireless communications provider's stock worth $707,477,000 after buying an additional 854,845 shares in the last quarter. Norges Bank purchased a new position in shares of InterDigital in the 4th quarter valued at $128,918,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of InterDigital by 135.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 219,388 shares of the Wireless communications provider's stock valued at $66,255,000 after acquiring an additional 126,328 shares during the period. Geode Capital Management LLC raised its position in shares of InterDigital by 18.6% in the 4th quarter. Geode Capital Management LLC now owns 787,546 shares of the Wireless communications provider's stock worth $251,250,000 after acquiring an additional 123,686 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in shares of InterDigital by 14,563.6% during the 4th quarter. M&T Bank Corp now owns 109,244 shares of the Wireless communications provider's stock worth $34,781,000 after purchasing an additional 108,499 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Stock Performance

IDCC opened at $323.17 on Wednesday. InterDigital, Inc. has a 1-year low of $249.14 and a 1-year high of $412.60. The stock has a market cap of $8.34 billion, a P/E ratio of 37.27 and a beta of 1.43. The stock's 50 day simple moving average is $272.72 and its 200 day simple moving average is $311.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.74 and a quick ratio of 1.74.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The Wireless communications provider reported $4.62 EPS for the quarter, beating the consensus estimate of $0.90 by $3.72. The company had revenue of $260.17 million during the quarter, compared to analysts' expectations of $143.10 million. InterDigital had a return on equity of 28.17% and a net margin of 38.32%.The firm's revenue was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $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 anticipate that InterDigital, Inc. will post 7.41 EPS for the current fiscal year.

InterDigital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, July 8th. InterDigital's dividend payout ratio is 32.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IDCC shares. Zacks Research upgraded InterDigital from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Weiss Ratings cut InterDigital from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $416.67.

Insider Activity

In other news, Director Samir Armaly sold 470 shares of InterDigital stock in a transaction on Friday, June 12th. The stock was sold at an average price of $276.64, for a total transaction of $130,020.80. Following the transaction, the director directly owned 4,608 shares in the company, valued at approximately $1,274,757.12. This trade represents a 9.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Derek K. Aberle sold 522 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $276.64, for a total value of $144,406.08. Following the completion of the transaction, the director directly owned 7,620 shares in the company, valued at approximately $2,107,996.80. This represents a 6.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,872 shares of company stock worth $1,654,159 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.

InterDigital Profile

InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.

The company's principal services include patent licensing, technology evaluation and consulting.

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