Portside Wealth Group LLC Boosts Position in InterDigital, Inc. $IDCC

Portside Wealth Group LLC boosted its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 33.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,501 shares of the Wireless communications provider’s stock after purchasing an additional 632 shares during the period. Portside Wealth Group LLC’s holdings in InterDigital were worth $561,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Cerity Partners LLC raised its holdings in InterDigital by 91.2% in the 1st quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider’s stock valued at $533,000 after buying an additional 1,229 shares during the period. CWM LLC boosted its stake in InterDigital by 24.0% during the first quarter. CWM LLC now owns 1,138 shares of the Wireless communications provider’s stock worth $235,000 after buying an additional 220 shares during the period. Csenge Advisory Group acquired a new stake in shares of InterDigital during the first quarter valued at about $553,000. Los Angeles Capital Management LLC raised its stake in shares of InterDigital by 1.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 25,067 shares of the Wireless communications provider’s stock valued at $5,183,000 after acquiring an additional 391 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Roth Capital increased their price objective on shares of InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Jefferies Financial Group set a $475.00 price objective on InterDigital and gave the company a “buy” rating in a research note on Thursday, October 30th. William Blair reiterated an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of InterDigital in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $412.50.

InterDigital Stock Performance

NASDAQ:IDCC opened at $335.94 on Wednesday. InterDigital, Inc. has a 52 week low of $169.58 and a 52 week high of $412.60. The company has a fifty day simple moving average of $354.60 and a two-hundred day simple moving average of $278.98. 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 company has a market cap of $8.65 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 1.88 and a beta of 1.45.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The firm had revenue of $164.68 million during the quarter, compared to analyst estimates of $153.43 million. During the same period last year, the business posted $1.14 earnings per share. InterDigital’s revenue 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, equities analysts anticipate that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

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

Insider Activity at InterDigital

In related news, insider Joshua D. Schmidt sold 466 shares of InterDigital stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $395.63, for a total value of $184,363.58. Following the completion of the transaction, the insider owned 27,928 shares in the company, valued at $11,049,154.64. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Kritzmacher sold 1,250 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 19,565 shares in the company, valued at approximately $7,055,725.95. This represents a 6.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,182 shares of company stock valued at $1,765,595 over the last 90 days. 2.80% of the stock is owned by corporate 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.