Vident Advisory LLC Reduces Stake in InterDigital, Inc. $IDCC

Key Points

• Vident Advisory LLC reduced its stake in InterDigital, Inc. by 23.5%, owning 23,523 shares worth approximately $4.86 million after selling 7,213 shares in the 1st quarter.
• InterDigital reported a substantial earnings surprise with $6.52 earnings per share, exceeding estimates by $3.75, along with revenue growth of 34.5% year-over-year to $300.60 million.
• The company announced a quarterly dividend of $0.60 per share, translating to an annualized yield of 0.9% and a payout ratio of 17.11%.

Vident Advisory LLC reduced its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 23.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,523 shares of the Wireless communications provider's stock after selling 7,213 shares during the quarter. Vident Advisory LLC owned 0.09% of InterDigital worth $4,864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp lifted its stake in shares of InterDigital by 312.3% in the 4th quarter. Stifel Financial Corp now owns 7,005 shares of the Wireless communications provider's stock valued at $1,357,000 after acquiring an additional 5,306 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of InterDigital by 7.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,895 shares of the Wireless communications provider's stock valued at $2,885,000 after acquiring an additional 1,050 shares during the last quarter. Northern Trust Corp lifted its stake in shares of InterDigital by 10.8% in the 4th quarter. Northern Trust Corp now owns 291,538 shares of the Wireless communications provider's stock valued at $56,477,000 after acquiring an additional 28,313 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of InterDigital by 3.0% in the 4th quarter. AQR Capital Management LLC now owns 39,700 shares of the Wireless communications provider's stock valued at $7,691,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of InterDigital in the 4th quarter valued at about $875,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Trading Up 1.1%

Shares of NASDAQ IDCC traded up $3.26 during midday trading on Thursday, reaching $288.03. The company had a trading volume of 188,381 shares, compared to its average volume of 325,169. The firm's fifty day moving average price is $247.27 and its 200-day moving average price is $223.94. The stock has a market cap of $7.43 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.65 and a beta of 1.42. 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 one year low of $129.76 and a one year high of $290.57.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $3.75. The business had revenue of $300.60 million during the quarter, compared to analyst estimates of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.InterDigital's quarterly revenue was up 34.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.57 EPS. 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 year.

InterDigital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. InterDigital's dividend payout ratio is currently 17.11%.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $261.03, for a total value of $261,030.00. Following the sale, the chief technology officer owned 67,122 shares in the company, valued at $17,520,855.66. This represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jean F. Rankin sold 606 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.47, for a total value of $137,240.82. Following the completion of the sale, the director owned 27,353 shares in the company, valued at $6,194,633.91. The trade was a 2.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,528 shares of company stock worth $1,309,157. 2.30% of the stock is owned by insiders.

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.