Hennessy Advisors Inc. Takes $108,000 Position in InterDigital, Inc. $IDCC

Hennessy Advisors Inc. purchased a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 482 shares of the Wireless communications provider’s stock, valued at approximately $108,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in InterDigital by 2.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,029 shares of the Wireless communications provider’s stock valued at $455,000 after purchasing an additional 54 shares during the period. Oppenheimer Asset Management Inc. grew its position in InterDigital by 3.2% during 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. Leavell Investment Management Inc. increased its holdings in InterDigital by 3.4% during the first quarter. Leavell Investment Management Inc. now owns 1,844 shares of the Wireless communications provider’s stock worth $381,000 after buying an additional 60 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in InterDigital by 4.3% during the first quarter. Flagship Harbor Advisors LLC now owns 1,821 shares of the Wireless communications provider’s stock worth $377,000 after buying an additional 75 shares during the last quarter. Finally, Xponance Inc. raised its position in InterDigital by 5.5% in the first quarter. Xponance Inc. now owns 1,923 shares of the Wireless communications provider’s stock worth $398,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and set a $340.00 target price on shares of InterDigital in a research report on Monday, September 29th. Weiss Ratings reissued a “buy (b)” rating on shares of InterDigital in a report on Saturday, September 27th. William Blair restated an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Finally, Roth Capital increased their price target on InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $345.00.

Insider Transactions at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $289.78, for a total transaction of $289,780.00. Following the completion of the sale, the chief technology officer owned 66,122 shares of the company’s stock, valued at $19,160,833.16. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 466 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 28,370 shares of the company’s stock, valued at $7,748,414.40. The trade was a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,466 shares of company stock worth $678,084 in the last 90 days. Company insiders own 2.80% of the company’s stock.

InterDigital Stock Down 4.8%

IDCC stock opened at $339.10 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $292.70 and its 200 day moving average is $241.98. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.67 and a beta of 1.44. InterDigital, Inc. has a 1-year low of $142.35 and a 1-year high of $361.56.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $3.75. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The business had revenue of $300.60 million during the quarter, compared to analyst estimates of $167.93 million. During the same period in the previous year, the business posted $4.57 earnings per share. InterDigital’s revenue for the quarter was up 34.5% on a year-over-year basis. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. Sell-side analysts predict that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be paid a $0.70 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, October 8th. InterDigital’s payout ratio is currently 19.96%.

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.