Fifth Third Wealth Advisors LLC Makes New $203,000 Investment in InterDigital, Inc. $IDCC

Key Points

• Fifth Third Wealth Advisors LLC has made a new investment of $203,000 in InterDigital, acquiring 907 shares of the company during the second quarter.
• InterDigital's recent quarterly earnings surpassed analyst expectations, reporting $6.52 EPS compared to a predicted $2.77, alongside a 34.5% revenue increase year-over-year.
• The company announced a quarterly dividend increase to $0.70 per share, a rise from the previous $0.60, reflecting a commitment to returning capital to shareholders.

Fifth Third Wealth Advisors LLC bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 907 shares of the Wireless communications provider's stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Monument Capital Management grew its holdings in shares of InterDigital by 8.9% during the 2nd quarter. Monument Capital Management now owns 1,340 shares of the Wireless communications provider's stock worth $300,000 after acquiring an additional 110 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of InterDigital by 2.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 7,622 shares of the Wireless communications provider's stock worth $1,709,000 after buying an additional 162 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of InterDigital in the 2nd quarter worth approximately $108,000. J2 Capital Management Inc grew its stake in shares of InterDigital by 34.1% in the 2nd quarter. J2 Capital Management Inc now owns 2,310 shares of the Wireless communications provider's stock worth $518,000 after buying an additional 588 shares during the last quarter. Finally, PFG Investments LLC grew its stake in shares of InterDigital by 3.2% in the 2nd quarter. PFG Investments LLC now owns 13,446 shares of the Wireless communications provider's stock worth $3,015,000 after buying an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

Wall Street Analyst Weigh In

IDCC has been the topic of several recent research reports. William Blair restated an "outperform" rating on shares of InterDigital in a research note on Monday, September 22nd. Jefferies Financial Group reaffirmed a "hold" rating and issued a $340.00 price objective on shares of InterDigital in a research report on Monday, September 29th. Roth Capital increased their target price on InterDigital from $270.00 to $350.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, Weiss Ratings upgraded InterDigital from a "buy (b+)" rating to a "buy (a)" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $345.00.

InterDigital Price Performance

NASDAQ IDCC opened at $358.26 on Wednesday. The business's fifty day moving average price is $306.54 and its 200-day moving average price is $248.08. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.75 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, Inc. has a 1-year low of $144.46 and a 1-year high of $361.56.

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 the consensus estimate of $2.77 by $3.75. The firm had revenue of $300.60 million for the quarter, compared to analysts' expectations of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The company's revenue was up 34.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $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, equities analysts predict that InterDigital, Inc. will post 9.21 earnings per share for the current year.

InterDigital Increases Dividend

The business 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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.8%. This is a boost from InterDigital's previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, October 8th. InterDigital's dividend payout ratio (DPR) is presently 19.96%.

Insider Buying and Selling at InterDigital

In related news, insider Joshua D. Schmidt sold 466 shares of InterDigital 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 transaction, the insider directly owned 28,370 shares in the company, valued at approximately $7,748,414.40. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $261.03, for a total value of $261,030.00. Following the transaction, the chief technology officer owned 67,122 shares in the company, valued at $17,520,855.66. This trade represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,466 shares of company stock worth $1,016,164 over the last quarter. 2.30% of the stock is owned by company insiders.

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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