Foster & Motley Inc. Sells 149 Shares of InterDigital, Inc. $IDCC

Foster & Motley Inc. reduced its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 4.2% during the second quarter, HoldingsChannel.com reports. The fund owned 3,374 shares of the Wireless communications provider’s stock after selling 149 shares during the quarter. Foster & Motley Inc.’s holdings in InterDigital were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IDCC. GAMMA Investing LLC raised its stake in shares of InterDigital by 53.9% in the first quarter. GAMMA Investing LLC now owns 1,450 shares of the Wireless communications provider’s stock valued at $300,000 after buying an additional 508 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of InterDigital by 7.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider’s stock valued at $928,000 after buying an additional 316 shares during the period. Avantra Family Wealth Inc. bought a new stake in shares of InterDigital in the first quarter valued at $207,000. Flagship Harbor Advisors LLC raised its stake in shares of InterDigital by 4.3% in the first quarter. Flagship Harbor Advisors LLC now owns 1,821 shares of the Wireless communications provider’s stock valued at $377,000 after buying an additional 75 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of InterDigital by 3.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 1,914 shares of the Wireless communications provider’s stock valued at $396,000 after buying an additional 59 shares during the period. 99.83% of the stock is currently owned by institutional investors.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the chief technology officer owned 65,122 shares in the company, valued at approximately $22,016,445.76. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of the stock in a transaction that occurred 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 sale, the insider owned 28,370 shares of the company’s stock, valued at approximately $7,748,414.40. This trade represents a 1.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,466 shares of company stock valued at $1,016,164. Company insiders own 2.30% of the company’s stock.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $366.85 on Monday. The firm has a market capitalization of $9.46 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.80 and a beta of 1.44. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. The stock’s 50-day simple moving average is $312.51 and its two-hundred day simple moving average is $251.78. InterDigital, Inc. has a twelve month low of $144.46 and a twelve month high of $369.58.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $167.93 million. During the same period in the prior year, the business earned $4.57 EPS. The company’s revenue for the quarter 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, equities analysts anticipate that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be issued a $0.70 dividend. This is an increase from InterDigital’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, October 8th. This represents a $2.80 annualized dividend and a yield of 0.8%. InterDigital’s dividend payout ratio (DPR) is 19.96%.

Analyst Upgrades and Downgrades

A number of 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 research note on Friday, September 12th. Jefferies Financial Group reiterated a “hold” rating and set a $340.00 price objective on shares of InterDigital in a research note on Monday, September 29th. Weiss Ratings upgraded InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research note on Tuesday, October 14th. Finally, William Blair reiterated an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, InterDigital has an average rating of “Buy” and a consensus target price of $345.00.

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.