Principal Financial Group Inc. Acquires 6,494 Shares of InterDigital, Inc. $IDCC

Key Points

• Principal Financial Group increased its stake in InterDigital by 4.6% in the fourth quarter, buying 6,494 additional shares and bringing its total holding to 146,320 shares worth about $46.6 million.
• InterDigital saw mixed insider activity, with CFO Richard Brezski and Director John D. Jr. Markley selling shares in February; insiders have sold 17,997 shares over the last 90 days.
• The company posted stronger-than-expected quarterly results, beating EPS and revenue estimates, and analysts currently rate the stock a Moderate Buy with a consensus price target of $416.67.

Principal Financial Group Inc. increased its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 146,320 shares of the Wireless communications provider's stock after purchasing an additional 6,494 shares during the quarter. Principal Financial Group Inc. owned approximately 0.57% of InterDigital worth $46,585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Moran Wealth Management LLC lifted its stake in shares of InterDigital by 0.6% in the 3rd quarter. Moran Wealth Management LLC now owns 4,751 shares of the Wireless communications provider's stock valued at $1,640,000 after purchasing an additional 29 shares during the period. CoreCap Advisors LLC lifted its stake in shares of InterDigital by 15.6% in the 3rd quarter. CoreCap Advisors LLC now owns 245 shares of the Wireless communications provider's stock valued at $85,000 after purchasing an additional 33 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of InterDigital by 2.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 1,956 shares of the Wireless communications provider's stock valued at $623,000 after purchasing an additional 39 shares during the period. Archer Investment Corp lifted its stake in shares of InterDigital by 4.3% in the 3rd quarter. Archer Investment Corp now owns 1,117 shares of the Wireless communications provider's stock valued at $386,000 after purchasing an additional 46 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of InterDigital by 3.6% in the 4th quarter. Blue Trust Inc. now owns 1,437 shares of the Wireless communications provider's stock valued at $458,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 99.83% of the company's stock.

Insider Transactions at InterDigital

In other news, CFO Richard Brezski sold 6,005 shares of the business's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $360.80, for a total value of $2,166,604.00. Following the completion of the transaction, the chief financial officer owned 72,404 shares in the company, valued at $26,123,363.20. The trade was a 7.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John D. Jr. Markley sold 700 shares of InterDigital stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $374.95, for a total value of $262,465.00. Following the completion of the sale, the director owned 11,223 shares of the company's stock, valued at $4,208,063.85. The trade was a 5.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 17,997 shares of company stock valued at $6,346,194. Insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on IDCC. Weiss Ratings restated a "buy (b)" rating on shares of InterDigital in a research note on Friday, May 1st. Wall Street Zen upgraded InterDigital from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Jefferies Financial Group restated a "buy" rating on shares of InterDigital in a research note on Wednesday, March 18th. Finally, Roth Mkm restated a "buy" rating on shares of InterDigital in a research note on Tuesday, January 20th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, InterDigital presently has a consensus rating of "Moderate Buy" and a consensus target price of $416.67.

InterDigital Stock Up 0.3%

Shares of NASDAQ:IDCC opened at $279.61 on Friday. The stock has a fifty day simple moving average of $342.65 and a two-hundred day simple moving average of $344.77. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 26.33 and a beta of 1.50. InterDigital, Inc. has a 12-month low of $205.78 and a 12-month high of $412.60. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.01.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The Wireless communications provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.03. InterDigital had a net margin of 44.20% and a return on equity of 35.25%. The company had revenue of $205.42 million during the quarter, compared to the consensus estimate of $196.85 million. During the same quarter last year, the firm earned $3.45 earnings per share. The firm's quarterly revenue 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, research analysts anticipate that InterDigital, Inc. will post 7.59 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were paid a $0.70 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $2.80 annualized dividend and a dividend yield of 1.0%. InterDigital's payout ratio is currently 26.37%.

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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