InterDigital, Inc. $IDCC Shares Bought by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its InterDigital stake by 8.7% in the third quarter, purchasing 36,620 additional shares to own 458,053 shares valued at approximately $149.4 million. Institutional investors and hedge funds collectively own 99.83% of the company.
• Analysts maintain a positive view of InterDigital, with an average rating of “Buy” and a $450 price target; recent upgrades included ratings to “Buy” and “Strong Buy.”
• InterDigital raised its quarterly dividend from $0.70 to $0.75 per share, implying an annualized dividend of $3.00 and a 0.9% yield. The stock recently traded at $339.29, while insiders have sold 4,800 shares worth about $1.6 million over the past 90 days.

Congress Asset Management Co. boosted its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458,053 shares of the Wireless communications provider's stock after buying an additional 36,620 shares during the quarter. InterDigital makes up approximately 0.9% of Congress Asset Management Co.'s investment portfolio, making the stock its 21st largest position. Congress Asset Management Co. owned 1.77% of InterDigital worth $149,357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Keybank National Association OH lifted its holdings in shares of InterDigital by 4.5% during the first quarter. Keybank National Association OH now owns 704 shares of the Wireless communications provider's stock worth $213,000 after purchasing an additional 30 shares during the period. J2 Capital Management Inc raised its position in shares of InterDigital by 3.0% during the first quarter. J2 Capital Management Inc now owns 1,451 shares of the Wireless communications provider's stock worth $438,000 after acquiring an additional 42 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of InterDigital by 3.7% in the second quarter. IFP Advisors Inc now owns 1,292 shares of the Wireless communications provider's stock worth $366,000 after acquiring an additional 46 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in InterDigital by 1.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,436 shares of the Wireless communications provider's stock valued at $1,944,000 after acquiring an additional 62 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in InterDigital by 5.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 1,447 shares of the Wireless communications provider's stock valued at $410,000 after purchasing an additional 69 shares during the period. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 1,500 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $334.32, for a total value of $501,480.00. Following the transaction, the chief technology officer directly owned 63,516 shares in the company, valued at $21,234,669.12. This trade represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joan Gillman sold 300 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $331.06, for a total transaction of $99,318.00. Following the transaction, the director owned 22,736 shares in the company, valued at approximately $7,526,980.16. The trade was a 1.30% 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. In the last 90 days, insiders have sold 4,800 shares of company stock valued at $1,595,118. Corporate insiders own 3.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IDCC shares. Weiss Ratings raised shares of InterDigital from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 18th. Zacks Research raised shares of InterDigital from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $450.00.

InterDigital Stock Up 0.3%

IDCC traded up $1.10 during midday trading on Tuesday, hitting $339.29. The company had a trading volume of 131,625 shares, compared to its average volume of 328,664. The stock's 50 day moving average price is $331.17 and its 200 day moving average price is $306.60. InterDigital, Inc. has a 52 week low of $249.14 and a 52 week high of $412.60. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 39.13 and a beta of 1.43. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.01.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its 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. InterDigital had a return on equity of 28.17% and a net margin of 38.32%.The company had revenue of $260.17 million during the quarter, compared to the consensus estimate of $143.10 million. During the same period last year, the business posted $6.52 EPS. The firm's revenue for the quarter was down 13.4% compared to the same quarter last year. InterDigital has set its FY 2026 guidance at 10.850-12.810 EPS and its Q3 2026 guidance at 1.940-2.130 EPS. On average, research analysts anticipate that InterDigital, Inc. will post 9.52 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 14th will be issued a dividend of $0.75 per share. This is a positive change from InterDigital's previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, October 14th. InterDigital's dividend payout ratio is presently 32.30%.

About InterDigital

InterDigital, Inc is a research and development company that designs and develops advanced wireless, video and related technologies. Its work supports cellular communications, including 2G, 3G, 4G and 5G networks, as well as Wi-Fi, video coding, artificial intelligence and other connected-device applications. The company's technologies are incorporated into mobile phones, network equipment, consumer electronics and other wireless products.

InterDigital primarily commercializes its innovations through a patent-licensing business.

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