Truist Financial Corp Boosts Holdings in InterDigital, Inc. $IDCC

Key Points

• Truist Financial Corp increased its stake in InterDigital, Inc. by 47.4%, bringing its total holdings to approximately 26,358 shares valued at $5.91 million.
• Several institutional investors also boosted their positions in InterDigital, including Wealth Enhancement Advisory Services, which increased its stake by 7.6%, and Cerity Partners, which raised its position by 91.2%.
• Analysts have expressed positive sentiments regarding InterDigital, with Roth Capital raising its price target to $350.00 and three analysts issuing a "Buy" rating on the stock.

Truist Financial Corp raised its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 47.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,358 shares of the Wireless communications provider's stock after acquiring an additional 8,478 shares during the period. Truist Financial Corp owned approximately 0.10% of InterDigital worth $5,910,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of InterDigital by 7.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider's stock worth $928,000 after purchasing an additional 316 shares during the period. Inspire Investing LLC lifted its stake in InterDigital by 37.9% in the first quarter. Inspire Investing LLC now owns 15,227 shares of the Wireless communications provider's stock worth $3,148,000 after purchasing an additional 4,188 shares during the last quarter. Cerity Partners LLC boosted its position in shares of InterDigital by 91.2% during the first quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider's stock valued at $533,000 after buying an additional 1,229 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of InterDigital by 3.6% during the second quarter. Harbor Capital Advisors Inc. now owns 43,660 shares of the Wireless communications provider's stock valued at $9,790,000 after buying an additional 1,502 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of InterDigital by 8.5% in the second quarter. State of Alaska Department of Revenue now owns 15,447 shares of the Wireless communications provider's stock worth $3,462,000 after buying an additional 1,215 shares during the period. Institutional investors own 99.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Roth Capital boosted their price objective on InterDigital from $270.00 to $350.00 and gave the company a "buy" rating in a report on Friday, September 12th. Jefferies Financial Group reissued a "hold" rating and set a $340.00 target price on shares of InterDigital in a research note on Monday, September 29th. William Blair restated an "outperform" rating on shares of InterDigital in a report on Monday, September 22nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of InterDigital in a report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $345.00.

InterDigital Price Performance

IDCC opened at $337.32 on Tuesday. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.67 and a beta of 1.44. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 12-month low of $142.52 and a 12-month high of $361.56. The business's fifty day simple moving average is $295.01 and its 200-day simple moving average is $242.82.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings data 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 return on equity of 53.44% and a net margin of 51.92%.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 company posted $4.57 earnings per share. The firm'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. On average, equities research analysts anticipate that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th will be given a $0.70 dividend. 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. This is a boost from InterDigital's previous quarterly dividend of $0.60. InterDigital's dividend payout ratio is currently 17.11%.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $261.03, for a total transaction of $261,030.00. Following the sale, the chief technology officer owned 67,122 shares of the company's stock, valued at approximately $17,520,855.66. This trade represents a 1.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joshua D. Schmidt sold 466 shares of the business'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 directly owned 28,370 shares of the company's stock, valued at approximately $7,748,414.40. The trade was a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,466 shares of company stock worth $678,084. 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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