Illinois Municipal Retirement Fund Reduces Position in InterDigital, Inc. $IDCC

Key Points

• Illinois Municipal Retirement Fund cut its InterDigital stake by 46.6% in the first quarter, selling 7,871 shares and ending with 9,033 shares worth about $2.73 million.
• InterDigital still has broadly positive Wall Street coverage, with four Buy ratings and one Hold rating, and an average analyst price target of $416.67 despite a recent Weiss Ratings downgrade.
• Insiders have been selling shares, including directors John A. Kritzmacher and Samir Armaly, while the company also announced a quarterly dividend of $0.70 per share payable July 22.

Illinois Municipal Retirement Fund decreased its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 46.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,033 shares of the Wireless communications provider's stock after selling 7,871 shares during the quarter. Illinois Municipal Retirement Fund's holdings in InterDigital were worth $2,728,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kemnay Advisory Services Inc. purchased a new stake in InterDigital during the 4th quarter worth approximately $26,000. Anchor Investment Management LLC acquired a new position in shares of InterDigital in the 1st quarter valued at approximately $30,000. Leonteq Securities AG purchased a new position in shares of InterDigital during the 4th quarter valued at approximately $35,000. Financial Consulate Inc. purchased a new position in shares of InterDigital during the 4th quarter valued at approximately $41,000. Finally, Hantz Financial Services Inc. grew its position in shares of InterDigital by 219.0% during the fourth quarter. Hantz Financial Services Inc. now owns 134 shares of the Wireless communications provider's stock worth $43,000 after buying an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of InterDigital from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $416.67.

Insider Activity

In other InterDigital news, Director John A. Kritzmacher sold 365 shares of InterDigital stock in a transaction on Friday, June 12th. The shares were sold at an average price of $276.64, for a total value of $100,973.60. Following the completion of the transaction, the director owned 16,359 shares of the company's stock, valued at $4,525,553.76. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Samir Armaly sold 470 shares of the 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 sale, the director directly owned 4,608 shares in the company, valued at $1,274,757.12. This trade represents a 9.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,872 shares of company stock valued at $1,654,159 over the last three months. 3.50% of the stock is currently owned by company insiders.

InterDigital Price Performance

NASDAQ:IDCC opened at $260.45 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 24.52 and a beta of 1.42. InterDigital, Inc. has a one year low of $213.06 and a one year high of $412.60. The stock has a 50-day simple moving average of $270.11 and a 200 day simple moving average of $314.41.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The Wireless communications provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.03. The firm had revenue of $205.42 million for the quarter, compared to analysts' expectations of $196.85 million. InterDigital had a return on equity of 35.25% and a net margin of 44.20%.InterDigital's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.45 earnings per share. InterDigital has set its Q2 2026 guidance at 1.410-1.600 EPS and its FY 2026 guidance at 8.740-11.840 EPS. Sell-side analysts predict that InterDigital, Inc. will post 7.41 EPS for the current fiscal year.

InterDigital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, July 8th. This represents a $2.80 annualized dividend and a yield of 1.1%. InterDigital's dividend payout ratio (DPR) is 26.37%.

InterDigital Company 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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