Geode Capital Management LLC Boosts Stake in InterDigital, Inc. $IDCC

Geode Capital Management LLC lifted its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 658,877 shares of the Wireless communications provider’s stock after purchasing an additional 12,223 shares during the period. Geode Capital Management LLC’s holdings in InterDigital were worth $148,103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. New Vernon Capital Holdings II LLC grew its holdings in InterDigital by 25,257.5% in the first quarter. New Vernon Capital Holdings II LLC now owns 204,889 shares of the Wireless communications provider’s stock valued at $42,361,000 after purchasing an additional 204,081 shares during the period. Nuveen LLC purchased a new position in shares of InterDigital during the 1st quarter valued at approximately $20,967,000. Acadian Asset Management LLC grew its stake in InterDigital by 1,556.8% in the 1st quarter. Acadian Asset Management LLC now owns 103,997 shares of the Wireless communications provider’s stock valued at $21,488,000 after acquiring an additional 97,720 shares during the period. Allianz Asset Management GmbH increased its holdings in InterDigital by 3,293.9% in the 1st quarter. Allianz Asset Management GmbH now owns 68,761 shares of the Wireless communications provider’s stock worth $14,216,000 after acquiring an additional 66,735 shares in the last quarter. Finally, Castellan Group acquired a new position in InterDigital during the first quarter worth $12,572,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IDCC. Weiss Ratings reiterated a “buy (a-)” rating on shares of InterDigital in a research report on Monday. Jefferies Financial Group set a $475.00 price objective on InterDigital and gave the stock a “buy” rating in a report on Thursday, October 30th. William Blair reissued an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Finally, Roth Capital raised their target price on InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $412.50.

InterDigital Stock Down 0.9%

IDCC stock opened at $335.94 on Wednesday. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 1.88 and a beta of 1.45. 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 $169.58 and a 12 month high of $412.60. The firm has a 50-day moving average of $354.60 and a two-hundred day moving average of $278.98.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The business had revenue of $164.68 million for the quarter, compared to analysts’ expectations of $153.43 million. During the same period in the previous year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. InterDigital has set its FY 2025 guidance at 14.570-14.830 EPS. Q4 2025 guidance at 1.380-1.630 EPS. As a group, analysts forecast that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were paid a $0.70 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. InterDigital’s dividend payout ratio is 18.89%.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the sale, the chief technology officer directly owned 65,122 shares in the company, valued at approximately $22,016,445.76. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Kritzmacher sold 1,250 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $360.63, for a total transaction of $450,787.50. Following the completion of the transaction, the director owned 19,565 shares in the company, valued at $7,055,725.95. The trade was a 6.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,182 shares of company stock worth $1,765,595 in the last quarter. Company insiders own 2.80% 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.