Hodges Capital Management Inc. Takes Position in InterDigital, Inc. $IDCC

Key Points

• Hodges Capital Management Inc. has made a new investment of approximately $1.75 million in InterDigital, purchasing 8,475 shares in the first quarter.
• Analysts from Roth Capital have increased their price target for InterDigital from $270.00 to $350.00, maintaining a "buy" rating.
• InterDigital reported $6.52 earnings per share for the last quarter, significantly exceeding analysts' expectations of $2.77, indicating strong financial performance.

Hodges Capital Management Inc. acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,475 shares of the Wireless communications provider's stock, valued at approximately $1,752,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IDCC. Wealth Enhancement Advisory Services LLC lifted its stake in InterDigital by 7.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider's stock worth $928,000 after acquiring an additional 316 shares during the last quarter. Cerity Partners LLC lifted 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 worth $533,000 after acquiring an additional 1,229 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in InterDigital by 8.5% in the first quarter. Envestnet Asset Management Inc. now owns 146,384 shares of the Wireless communications provider's stock worth $30,265,000 after acquiring an additional 11,411 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in InterDigital in the first quarter worth approximately $214,000. Finally, PNC Financial Services Group Inc. lifted its stake in InterDigital by 25.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,707 shares of the Wireless communications provider's stock worth $560,000 after acquiring an additional 542 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

Analyst Ratings Changes

Separately, Roth Capital lifted their price target on shares of InterDigital from $270.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $350.00.

InterDigital Stock Up 2.0%

IDCC stock traded up $6.44 during midday trading on Monday, reaching $329.31. 600,269 shares of the company were exchanged, compared to its average volume of 274,892. 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 1-year low of $134.40 and a 1-year high of $331.90. The stock's 50-day simple moving average is $260.39 and its 200 day simple moving average is $229.36. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 1.61 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 for the quarter, topping analysts' consensus estimates of $2.77 by $3.75. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The company had revenue of $300.60 million for the quarter, compared to analysts' expectations of $167.93 million. During the same quarter last year, the company earned $4.57 earnings per share. The firm's revenue for the quarter was up 34.5% on a year-over-year basis. 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 forecast that InterDigital, Inc. will post 9.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 directly owned 67,122 shares of the company's stock, valued at $17,520,855.66. The trade was a 1.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joshua D. Schmidt sold 466 shares of the business's stock in a transaction on Friday, August 29th. The shares were 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 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 ninety days. Corporate insiders own 2.30% 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.