MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 20,920 Shares of InterDigital, Inc. $IDCC

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in InterDigital, Inc. by 53.4% in Q1, now owning 18,236 shares valued at approximately $3.77 million.
• Several hedge funds, including Reinhart Partners LLC and Price T Rowe Associates, have increased their holdings in InterDigital during the same period, with a significant increase of 31,724.6% by GAMMA Investing LLC.
• Roth Capital raised its price target for InterDigital shares from $270.00 to $350.00 and maintained a "buy" rating, contributing to a consensus "buy" rating among analysts.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 53.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,236 shares of the Wireless communications provider's stock after selling 20,920 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.07% of InterDigital worth $3,770,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Reinhart Partners LLC. raised its stake in InterDigital by 13.9% during the 1st quarter. Reinhart Partners LLC. now owns 410,442 shares of the Wireless communications provider's stock valued at $84,859,000 after purchasing an additional 50,204 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of InterDigital by 19.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 358,843 shares of the Wireless communications provider's stock valued at $74,191,000 after acquiring an additional 59,517 shares during the last quarter. Invesco Ltd. lifted its position in InterDigital by 8.5% during the first quarter. Invesco Ltd. now owns 355,704 shares of the Wireless communications provider's stock worth $73,542,000 after acquiring an additional 27,853 shares during the last quarter. Congress Asset Management Co. lifted its position in InterDigital by 5.0% during the first quarter. Congress Asset Management Co. now owns 339,101 shares of the Wireless communications provider's stock worth $70,109,000 after purchasing an additional 16,040 shares during the period. Finally, GAMMA Investing LLC increased its position in InterDigital by 31,724.6% in the 1st quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock valued at $619,810,000 after acquiring an additional 298,846 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $289.78, for a total value of $289,780.00. Following the sale, the chief technology officer owned 66,122 shares of the company's stock, valued at $19,160,833.16. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $273.12, for a total value of $127,273.92. Following the sale, the insider owned 28,370 shares in the company, valued at approximately $7,748,414.40. The trade was a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,932 shares of company stock valued at $1,010,930 in the last three months. Insiders own 2.30% of the company's stock.

InterDigital Stock Performance

Shares of IDCC stock traded up $6.44 during trading hours on Monday, hitting $329.31. The company's stock had a trading volume of 600,269 shares, compared to its average volume of 274,892. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $260.39 and a 200 day moving average of $229.36. InterDigital, Inc. has a 12-month low of $134.40 and a 12-month high of $331.90. The stock has a market cap of $8.50 billion, a PE 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 announced its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $3.75. The company had revenue of $300.60 million during the quarter, compared to analysts' expectations of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.InterDigital's revenue for the quarter was up 34.5% on a year-over-year basis. During the same period last year, the business posted $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 forecast that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.