State of Alaska Department of Revenue Has $3.46 Million Stock Position in InterDigital, Inc. $IDCC

State of Alaska Department of Revenue lifted its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,447 shares of the Wireless communications provider's stock after purchasing an additional 1,215 shares during the period. State of Alaska Department of Revenue owned 0.06% of InterDigital worth $3,462,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of IDCC. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of InterDigital by 4.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,173 shares of the Wireless communications provider's stock worth $808,000 after purchasing an additional 160 shares during the period. Versant Capital Management Inc lifted its holdings in shares of InterDigital by 957.9% during the first quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock worth $42,000 after purchasing an additional 182 shares during the period. Portside Wealth Group LLC acquired a new position in shares of InterDigital during the first quarter worth $321,000. Vest Financial LLC acquired a new position in shares of InterDigital during the first quarter worth $4,414,000. Finally, Reinhart Partners LLC. lifted its holdings in shares of InterDigital by 13.9% during the first quarter. Reinhart Partners LLC. now owns 410,442 shares of the Wireless communications provider's stock worth $84,859,000 after purchasing an additional 50,204 shares during the period. Institutional investors and hedge funds own 99.83% of the company's stock.

InterDigital Trading Down 1.0%

IDCC opened at $345.23 on Wednesday. InterDigital, Inc. has a 1-year low of $140.47 and a 1-year high of $360.30. 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 company has a market cap of $8.91 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42. The company has a fifty day moving average price of $285.36 and a two-hundred day moving average price of $239.16.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, beating 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 firm had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. During the same period in the previous year, the firm posted $4.57 earnings per share. The business's revenue 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. Analysts predict that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.8%. This is an increase from InterDigital's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Wednesday, October 8th. InterDigital's payout ratio is presently 17.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Roth Capital lifted their price target on shares of InterDigital from $270.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 12th. William Blair reissued an "outperform" rating on shares of InterDigital in a research note on Monday, September 22nd. Finally, Jefferies Financial Group reissued a "hold" rating and set a $340.00 target price on shares of InterDigital in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, InterDigital currently has an average rating of "Moderate Buy" and an average target price of $345.00.

Insider Buying and Selling at InterDigital

In other news, insider Joshua D. Schmidt sold 466 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 28,370 shares of the company's stock, valued at $7,748,414.40. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Rajesh Pankaj sold 1,000 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $289.78, for a total transaction of $289,780.00. Following the sale, the chief technology officer directly owned 66,122 shares of the company's stock, valued at approximately $19,160,833.16. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,466 shares of company stock valued at $902,664. Insiders own 2.30% of the company's stock.

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.

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