InterDigital, Inc. $IDCC Shares Sold by Reinhart Partners LLC.

Key Points

• Reinhart Partners LLC adjusted its stake in InterDigital, Inc. by reducing its holdings by 0.3% in the latest quarter, now owning 409,316 shares valued at approximately $91.8 million.
• InterDigital reported a significant earnings beat with $6.52 EPS for the latest quarter, exceeding expectations of $2.77 and achieving a revenue increase of 34.5% year-over-year.
• Price targets for InterDigital's stock have been raised, with Roth Capital increasing its target from $270.00 to $350.00 and giving it a "buy" rating.

Reinhart Partners LLC. cut its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 409,316 shares of the Wireless communications provider's stock after selling 1,126 shares during the period. InterDigital accounts for 3.1% of Reinhart Partners LLC.'s holdings, making the stock its 11th biggest position. Reinhart Partners LLC. owned about 1.58% of InterDigital worth $91,784,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its position in InterDigital by 3.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 1,914 shares of the Wireless communications provider's stock worth $396,000 after purchasing an additional 59 shares during the last quarter. Leavell Investment Management Inc. increased its position in shares of InterDigital by 3.4% during the first quarter. Leavell Investment Management Inc. now owns 1,844 shares of the Wireless communications provider's stock valued at $381,000 after acquiring an additional 60 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in shares of InterDigital by 4.3% during the first quarter. Flagship Harbor Advisors LLC now owns 1,821 shares of the Wireless communications provider's stock valued at $377,000 after acquiring an additional 75 shares during the last quarter. Xponance Inc. increased its position in shares of InterDigital by 5.5% during the first quarter. Xponance Inc. now owns 1,923 shares of the Wireless communications provider's stock valued at $398,000 after acquiring an additional 100 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV increased its position in shares of InterDigital by 0.8% during the second quarter. Rowlandmiller & PARTNERS.ADV now owns 12,125 shares of the Wireless communications provider's stock valued at $2,719,000 after acquiring an additional 102 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Roth Capital lifted their price target on shares of InterDigital from $270.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $350.00.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $261.03, for a total value of $261,030.00. Following the transaction, the chief technology officer owned 67,122 shares in the company, valued at approximately $17,520,855.66. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $273.12, for a total transaction of $127,273.92. Following the completion of the transaction, the insider owned 28,370 shares in the company, valued at $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 3,932 shares of company stock worth $1,010,930 in the last 90 days. 2.80% of the stock is currently owned by insiders.

InterDigital Trading Down 1.3%

Shares of IDCC traded down $4.40 during mid-day trading on Friday, hitting $334.81. The company had a trading volume of 768,534 shares, compared to its average volume of 301,858. The business's 50-day simple moving average is $268.76 and its 200-day simple moving average is $232.67. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 1-year low of $136.58 and a 1-year high of $341.47. The stock has a market cap of $8.64 billion, a PE ratio of 23.86, a P/E/G ratio of 1.67 and a beta of 1.42.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $3.75. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The business had revenue of $300.60 million for the quarter, compared to analysts' expectations of $167.93 million. During the same period last year, the company earned $4.57 earnings per share. The company's quarterly revenue was up 34.5% on a year-over-year basis. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. Sell-side analysts forecast that InterDigital, Inc. will post 9.21 earnings per share for the current year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be given a $0.70 dividend. This is a boost from InterDigital's previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, October 8th. InterDigital's dividend payout ratio is 19.96%.

InterDigital 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.