Oppenheimer Asset Management Inc. Purchases New Shares in InterDigital, Inc. $IDCC

Key Points

• Oppenheimer Asset Management acquired 3,541 InterDigital shares worth approximately $1.0 million in the second quarter. Institutional investors collectively own 99.83% of the company.
• Analyst sentiment remains positive overall, with an average rating of “Buy” and a consensus price target of $416.67, although ratings ranged from “Strong Buy” to “Hold.”
• InterDigital significantly exceeded quarterly earnings expectations, reporting $4.62 EPS versus the $0.90 consensus and revenue of $260.17 million versus $143.10 million estimates. The company also maintains a quarterly dividend of $0.70 per share, yielding about 0.8%.

Oppenheimer Asset Management Inc. acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,541 shares of the Wireless communications provider's stock, valued at approximately $1,003,000.

A number of other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in InterDigital by 62.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,222,111 shares of the Wireless communications provider's stock worth $707,477,000 after purchasing an additional 854,845 shares during the period. Geode Capital Management LLC boosted its position in InterDigital by 18.6% during the fourth quarter. Geode Capital Management LLC now owns 787,546 shares of the Wireless communications provider's stock worth $251,250,000 after purchasing an additional 123,686 shares in the last quarter. Reinhart Partners LLC. grew its holdings in InterDigital by 9.0% in the second quarter. Reinhart Partners LLC. now owns 460,404 shares of the Wireless communications provider's stock valued at $130,359,000 after purchasing an additional 38,115 shares during the period. Invesco Ltd. grew its holdings in InterDigital by 24.8% in the fourth quarter. Invesco Ltd. now owns 450,863 shares of the Wireless communications provider's stock valued at $143,546,000 after purchasing an additional 89,647 shares during the period. Finally, Norges Bank purchased a new stake in shares of InterDigital in the fourth quarter valued at approximately $128,918,000. Institutional investors and hedge funds own 99.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IDCC shares. Zacks Research raised InterDigital from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Weiss Ratings cut shares of InterDigital from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $416.67.

InterDigital Price Performance

Shares of IDCC opened at $343.65 on Monday. The stock has a 50 day moving average price of $286.29 and a 200 day moving average price of $312.10. InterDigital, Inc. has a one year low of $249.14 and a one year high of $412.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 39.64 and a beta of 1.43.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The Wireless communications provider reported $4.62 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $143.10 million. During the same quarter last year, the firm posted $6.52 EPS. The firm's revenue for the quarter was down 13.4% on a year-over-year basis. InterDigital has set its FY 2026 guidance at 10.850-12.810 EPS and its Q3 2026 guidance at 1.940-2.130 EPS. Equities research analysts forecast that InterDigital, Inc. will post 7.41 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, July 8th. InterDigital's dividend payout ratio (DPR) is currently 32.30%.

Insider Activity

In related news, CTO Rajesh Pankaj sold 1,500 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $324.88, for a total transaction of $487,320.00. Following the completion of the sale, the chief technology officer owned 66,516 shares of the company's stock, valued at approximately $21,609,718.08. This represents a 2.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John A. Kritzmacher sold 365 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $276.64, for a total transaction of $100,973.60. Following the completion of the sale, the director owned 16,359 shares of the company's stock, valued at approximately $4,525,553.76. The trade was a 2.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,672 shares of company stock valued at $2,240,797 in the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

About InterDigital

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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