InterDigital, Inc. $IDCC Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group cut its stake in InterDigital by 42.9% in the first quarter, selling 62,825 shares and ending with 83,495 shares worth about $25.2 million.
• Several company insiders also sold shares recently, including directors John D. Jr. Markley and Derek K. Aberle; insiders have sold 5,872 shares worth about $1.65 million over the past 90 days.
• InterDigital beat quarterly earnings expectations and maintained a Moderate Buy analyst rating, with consensus price target at $416.67. The company also declared a quarterly dividend of $0.70 per share, payable July 22.

Principal Financial Group Inc. lowered its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 42.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,495 shares of the Wireless communications provider's stock after selling 62,825 shares during the period. Principal Financial Group Inc. owned about 0.32% of InterDigital worth $25,215,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Kemnay Advisory Services Inc. bought a new stake in shares of InterDigital in the 4th quarter worth approximately $26,000. Anchor Investment Management LLC acquired a new position in InterDigital during the 1st quarter valued at approximately $30,000. Leonteq Securities AG bought a new position in InterDigital during the 4th quarter worth $35,000. Financial Consulate Inc. bought a new position in InterDigital during the 4th quarter worth $41,000. Finally, Hantz Financial Services Inc. increased its position in InterDigital by 219.0% in 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 during the period. 99.83% of the stock is owned by institutional investors.

Insider Activity

In other news, Director John D. Jr. Markley sold 400 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $300.00, for a total value of $120,000.00. Following the completion of the transaction, the director directly owned 11,735 shares in the company, valued at $3,520,500. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Derek K. Aberle sold 522 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $276.64, for a total transaction of $144,406.08. Following the transaction, the director owned 7,620 shares in the company, valued at $2,107,996.80. This represents a 6.41% 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. Insiders have sold 5,872 shares of company stock worth $1,654,159 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of InterDigital from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 12th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $416.67.

InterDigital Stock Performance

IDCC opened at $258.18 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $269.88 and its 200-day moving average is $313.94. The stock has a market cap of $6.67 billion, a PE ratio of 24.31 and a beta of 1.42. InterDigital, Inc. has a twelve month low of $213.06 and a twelve month high of $412.60.

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

InterDigital Dividend Announcement

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