Strs Ohio Buys Shares of 4,700 InterDigital, Inc. $IDCC

Key Points

• Strs Ohio has invested approximately $972,000 in InterDigital, acquiring 4,700 shares during the 1st quarter of the year, according to its latest 13F filing.
• InterDigital reported strong earnings with an EPS of $6.52 for the last quarter, significantly surpassing the consensus estimate of $2.77, and its revenue grew by 34.5% year-over-year.
• The company announced an increase in its quarterly dividend from $0.60 to $0.70 per share, with the dividend yield currently at 0.8%.

Strs Ohio purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,700 shares of the Wireless communications provider's stock, valued at approximately $972,000.

Several other institutional investors and hedge funds have also made changes to their positions in IDCC. WBI Investments LLC purchased a new stake in InterDigital during the first quarter worth approximately $1,269,000. Acadian Asset Management LLC lifted its position in shares of InterDigital by 1,556.8% during the 1st quarter. Acadian Asset Management LLC now owns 103,997 shares of the Wireless communications provider's stock worth $21,488,000 after buying an additional 97,720 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of InterDigital in the 1st quarter valued at $2,427,000. Plato Investment Management Ltd purchased a new position in shares of InterDigital in the 1st quarter valued at $191,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in InterDigital by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,066 shares of the Wireless communications provider's stock worth $15,933,000 after acquiring an additional 4,105 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

InterDigital Stock Performance

IDCC traded up $11.68 during trading on Monday, hitting $346.49. The stock had a trading volume of 355,273 shares, compared to its average volume of 328,036. The firm has a market capitalization of $8.94 billion, a P/E ratio of 24.70, a PEG ratio of 1.67 and a beta of 1.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. InterDigital, Inc. has a twelve month low of $136.58 and a twelve month high of $360.30. The company's 50-day moving average price is $271.15 and its 200 day moving average price is $233.75.

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 (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 firm had revenue of $300.60 million during the quarter, compared to analysts' expectations of $167.93 million. During the same period in the prior year, the company posted $4.57 earnings per share. The firm's revenue for the quarter 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. On average, equities research analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

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

Insider Buying and Selling

In other news, insider Joshua D. Schmidt sold 466 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $273.12, for a total value 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. This trade represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 completion of the sale, the chief technology officer owned 66,122 shares in the company, valued at $19,160,833.16. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,932 shares of company stock valued at $1,010,930. Insiders own 2.30% of the company's stock.

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.