Northern Trust Corp Lowers Stock Position in InterDigital, Inc. $IDCC

Key Points

• Northern Trust Corp reduced its stake in InterDigital, Inc. by 1.3%, now holding 287,629 shares worth approximately $59.47 million following a sale of 3,909 shares.
• Other hedge funds like Wealth Enhancement Advisory Services LLC and Cerity Partners LLC increased their investments in InterDigital, indicating a mixed sentiment among institutional investors.
• InterDigital recently reported earnings per share of $6.52 for the quarter, significantly surpassing analysts' expectations, with revenues totaling $300.60 million, representing a year-over-year increase of 34.5%.

Northern Trust Corp cut its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 287,629 shares of the Wireless communications provider's stock after selling 3,909 shares during the quarter. Northern Trust Corp owned about 1.11% of InterDigital worth $59,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IDCC. Elequin Capital LP purchased a new position in shares of InterDigital in the 4th quarter valued at $29,000. Wayfinding Financial LLC purchased a new position in shares of InterDigital in the 1st quarter valued at $32,000. Headlands Technologies LLC purchased a new position in shares of InterDigital in the 1st quarter valued at $35,000. Concord Wealth Partners purchased a new position in shares of InterDigital in the 1st quarter valued at $37,000. Finally, Versant Capital Management Inc increased its holdings in shares of InterDigital by 957.9% in the 1st quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock valued at $42,000 after acquiring an additional 182 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Down 0.7%

Shares of IDCC traded down $1.80 during midday trading on Friday, hitting $271.71. 400,178 shares of the company's stock traded hands, compared to its average volume of 254,214. InterDigital, Inc. has a 1 year low of $129.76 and a 1 year high of $277.95. The firm's fifty day moving average is $244.55 and its 200-day moving average is $222.59. 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 stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, beating the consensus estimate of $2.77 by $3.75. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The firm had revenue of $300.60 million during the quarter, compared to analyst estimates of $167.93 million. During the same quarter in the prior year, the business posted $4.57 EPS. The business's revenue for the quarter was up 34.5% compared to the same quarter last year. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. As a group, sell-side analysts anticipate that InterDigital, Inc. will post 9.21 earnings per share for the current year.

InterDigital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. InterDigital's payout ratio is 17.11%.

Insider Activity

In other news, Director John A. Kritzmacher sold 519 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $226.65, for a total transaction of $117,631.35. Following the sale, the director directly owned 19,774 shares of the company's stock, valued at $4,481,777.10. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joshua D. Schmidt sold 466 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $232.33, for a total transaction of $108,265.78. Following the sale, the insider directly owned 28,804 shares in the company, valued at $6,692,033.32. This trade represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,062 shares of company stock valued at $1,181,883. 2.80% of the stock is owned by corporate insiders.

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.