Penn Mutual Asset Management Sells 950 Shares of InterDigital, Inc. $IDCC

Key Points

• Penn Mutual Asset Management has significantly reduced its stake in InterDigital, Inc. by 32.2%, now holding 2,000 shares valued at $414,000 following the sale of 950 shares in the first quarter.
• Insider activity includes CTO Rajesh Pankaj selling 1,000 shares for approximately $224,580, and Director John A. Kritzmacher selling 519 shares valued at about $117,631 in June.
• InterDigital reported an impressive EPS of $6.52 in its last earnings report, surpassing estimates by $3.75, with a year-over-year revenue increase of 34.5% to $300.60 million.

Penn Mutual Asset Management reduced its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 32.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,000 shares of the Wireless communications provider's stock after selling 950 shares during the period. Penn Mutual Asset Management's holdings in InterDigital were worth $414,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. grew its position in shares of InterDigital by 3.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 612,851 shares of the Wireless communications provider's stock valued at $118,722,000 after purchasing an additional 21,319 shares in the last quarter. Reinhart Partners LLC. grew its holdings 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 buying an additional 50,204 shares in the last quarter. Invesco Ltd. grew its holdings in InterDigital by 8.5% during the 1st quarter. Invesco Ltd. now owns 355,704 shares of the Wireless communications provider's stock valued at $73,542,000 after buying an additional 27,853 shares in the last quarter. Congress Asset Management Co. increased its position in shares of InterDigital by 5.0% during the first quarter. Congress Asset Management Co. now owns 339,101 shares of the Wireless communications provider's stock valued at $70,109,000 after buying an additional 16,040 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of InterDigital by 31,724.6% in the first quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock worth $619,810,000 after buying an additional 298,846 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at InterDigital

In related news, Director John A. Kritzmacher sold 519 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $226.65, for a total value 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. This trade represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Derek K. Aberle sold 692 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.41, for a total transaction of $156,675.72. Following the completion of the transaction, the director directly owned 6,192 shares of the company's stock, valued at approximately $1,401,930.72. This represents a 10.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,062 shares of company stock worth $1,181,883. 2.80% of the stock is owned by insiders.

InterDigital Price Performance

NASDAQ:IDCC traded down $1.42 during mid-day trading on Thursday, hitting $258.54. 198,041 shares of the stock traded hands, compared to its average volume of 326,371. InterDigital, Inc. has a 12-month low of $129.76 and a 12-month high of $277.95. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. The company has a market cap of $6.67 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The business's 50-day moving average price is $238.34 and its 200 day moving average price is $219.20.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The business's quarterly revenue was up 34.5% compared to the same quarter last year. During the same period last year, the firm earned $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, analysts expect that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. InterDigital's dividend payout ratio (DPR) is presently 17.11%.

About InterDigital

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.