InterDigital (NASDAQ:IDCC) Hits New 1-Year High on Analyst Upgrade

Key Points

• InterDigital's stock reached a new 52-week high of $330.34 following an analyst upgrade from Roth Capital, which raised its price target from $270.00 to $350.00 while maintaining a buy rating.
• Insiders, including CTO Rajesh Pankaj, have sold a total of 3,932 shares worth over $1 million in the last 90 days, indicating a slight decrease in their ownership stakes.
• The company reported impressive quarterly earnings, with a net revenue of $300.60 million, significantly beating the estimated $167.93 million and demonstrating a year-over-year revenue increase of 34.5%.

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) shares hit a new 52-week high during trading on Monday after Roth Capital raised their price target on the stock from $270.00 to $350.00. Roth Capital currently has a buy rating on the stock. InterDigital traded as high as $330.34 and last traded at $330.26, with a volume of 51503 shares. The stock had previously closed at $322.87.

Insider Activity

In other news, insider Joshua D. Schmidt sold 466 shares of the company'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 sale, the insider directly owned 28,370 shares in the company, valued at approximately $7,748,414.40. This represents a 1.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 1,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $289.78, for a total transaction of $289,780.00. Following the transaction, the chief technology officer owned 66,122 shares in the company, valued at $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. Insiders have sold a total of 3,932 shares of company stock worth $1,010,930 over the last 90 days. Corporate insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IDCC. Geode Capital Management LLC increased its holdings in InterDigital by 1.9% in the second quarter. Geode Capital Management LLC now owns 658,877 shares of the Wireless communications provider's stock valued at $148,103,000 after buying an additional 12,223 shares in the last quarter. Reinhart Partners LLC. increased its stake in InterDigital by 13.9% during the 1st quarter. Reinhart Partners LLC. now owns 410,442 shares of the Wireless communications provider's stock worth $84,859,000 after buying an additional 50,204 shares during the period. Price T Rowe Associates Inc. MD increased its stake in InterDigital by 19.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 358,843 shares of the Wireless communications provider's stock worth $74,191,000 after buying an additional 59,517 shares during the period. Invesco Ltd. increased its stake in InterDigital by 8.5% during the 1st quarter. Invesco Ltd. now owns 355,704 shares of the Wireless communications provider's stock worth $73,542,000 after buying an additional 27,853 shares during the period. Finally, Congress Asset Management Co. increased its stake in InterDigital by 1.4% during the 2nd quarter. Congress Asset Management Co. now owns 343,752 shares of the Wireless communications provider's stock worth $77,079,000 after buying an additional 4,651 shares during the period. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Stock Performance

The firm's 50 day moving average is $258.33 and its two-hundred day moving average is $228.55. The stock has a market capitalization of $8.52 billion, a PE ratio of 23.54, a P/E/G ratio of 1.61 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 (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings data 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. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The company had revenue of $300.60 million for the quarter, compared to the consensus estimate of $167.93 million. During the same period in the prior year, the firm posted $4.57 EPS. The company's quarterly 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. As a group, research analysts predict that InterDigital, Inc. will post 9.21 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.