11,740 Shares in InterDigital, Inc. $IDCC Bought by Focus Partners Wealth

Key Points

• Focus Partners Wealth has invested approximately $2.43 million in InterDigital, purchasing 11,740 shares during the first quarter.
• Roth Capital upgraded InterDigital's price target from $270.00 to $350.00 and assigned a "buy" rating, reflecting positive market sentiment.
• InterDigital reported impressive quarterly earnings with an EPS of $6.52, exceeding estimates and showing a 34.5% increase in revenue year-over-year.

Focus Partners Wealth acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,740 shares of the Wireless communications provider's stock, valued at approximately $2,427,000.

Other hedge funds have also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new stake in shares of InterDigital during the first quarter valued at approximately $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of InterDigital by 5.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,066 shares of the Wireless communications provider's stock valued at $15,933,000 after purchasing an additional 4,105 shares during the period. Empowered Funds LLC purchased a new position in InterDigital during the first quarter valued at $7,356,000. Ascent Group LLC bought a new stake in shares of InterDigital in the 1st quarter worth $215,000. Finally, United Services Automobile Association bought a new stake in shares of InterDigital in the first quarter worth $346,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Roth Capital upped their price objective on InterDigital from $270.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $350.00.

Insider Transactions at InterDigital

In related news, insider Joshua D. Schmidt sold 466 shares of the company's stock in a transaction dated Friday, August 29th. The shares were 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 approximately $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 is accessible through this link. Also, CTO Rajesh Pankaj sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $261.03, for a total transaction of $261,030.00. Following the transaction, the chief technology officer owned 67,122 shares of the company's stock, valued at approximately $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 a total of 3,932 shares of company stock valued at $1,010,930 over the last ninety days. 2.80% of the stock is owned by insiders.

InterDigital Trading Down 1.3%

Shares of NASDAQ:IDCC traded down $4.40 during trading on Friday, reaching $334.81. 768,534 shares of the stock were exchanged, compared to its average volume of 301,858. The firm's 50-day moving average price is $268.76 and its 200 day moving average price is $232.48. 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, Inc. has a 12-month low of $136.58 and a 12-month high of $341.47. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, topping the consensus estimate of $2.77 by $3.75. The company had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The company's revenue was up 34.5% on a year-over-year basis. During the same quarter in the previous 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, sell-side analysts anticipate that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

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

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.