Roth Capital Boosts InterDigital (NASDAQ:IDCC) Price Target to $350.00

Key Points

• Roth Capital has raised its price target for InterDigital (NASDAQ:IDCC) from $270.00 to $350.00, indicating a potential upside of 7.99% from the current stock price.
• InterDigital reported earnings that significantly exceeded expectations, with an EPS of $6.52 against a consensus estimate of $2.77, and a quarterly revenue of $300.60 million, up 34.5% year-over-year.
• Insider trading activity has been noted, with key company insiders, including Joshua D. Schmidt and Rajesh Pankaj, selling shares recently which indicates a slight decrease in their ownership.

InterDigital (NASDAQ:IDCC - Get Free Report) had its target price boosted by investment analysts at Roth Capital from $270.00 to $350.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the Wireless communications provider's stock. Roth Capital's price objective suggests a potential upside of 7.99% from the company's previous close.

InterDigital Trading Down 0.2%

Shares of IDCC traded down $0.77 during mid-day trading on Friday, reaching $324.10. The stock had a trading volume of 201,076 shares, compared to its average volume of 324,187. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96. InterDigital has a 52-week low of $132.98 and a 52-week high of $327.49. The business's fifty day moving average is $256.35 and its 200 day moving average is $227.50. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 1.48 and a beta of 1.42.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, topping 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 previous year, the firm earned $4.57 earnings per share. InterDigital'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. On average, sell-side analysts predict that InterDigital will post 9.21 EPS for the current fiscal year.

Insider Activity

In other InterDigital news, insider Joshua D. Schmidt sold 466 shares of the 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 transaction, the insider owned 28,370 shares of the company's stock, 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 stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $261.03, for a total transaction of $261,030.00. Following the transaction, the chief technology officer directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,932 shares of company stock valued at $1,010,930. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 12,223 shares in the last quarter. Reinhart Partners LLC. grew its holdings in shares of InterDigital by 13.9% in the first quarter. Reinhart Partners LLC. now owns 410,442 shares of the Wireless communications provider's stock valued at $84,859,000 after purchasing an additional 50,204 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of InterDigital by 19.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 358,843 shares of the Wireless communications provider's stock valued at $74,191,000 after purchasing an additional 59,517 shares in the last quarter. Invesco Ltd. grew its holdings in shares of InterDigital by 8.5% in the first quarter. Invesco Ltd. now owns 355,704 shares of the Wireless communications provider's stock valued at $73,542,000 after purchasing an additional 27,853 shares in the last quarter. Finally, Congress Asset Management Co. grew its holdings in shares of InterDigital by 1.4% in the second quarter. Congress Asset Management Co. now owns 343,752 shares of the Wireless communications provider's stock valued at $77,079,000 after purchasing an additional 4,651 shares in the last quarter. Institutional investors and hedge funds own 99.83% 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.

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