Maryland State Retirement & Pension System Acquires 162 Shares of InterDigital, Inc. $IDCC

Maryland State Retirement & Pension System grew its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,622 shares of the Wireless communications provider’s stock after buying an additional 162 shares during the period. Maryland State Retirement & Pension System’s holdings in InterDigital were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. bought a new position in InterDigital during the second quarter worth about $108,000. J2 Capital Management Inc boosted its holdings in InterDigital by 34.1% during the second quarter. J2 Capital Management Inc now owns 2,310 shares of the Wireless communications provider’s stock worth $518,000 after buying an additional 588 shares during the last quarter. PFG Investments LLC boosted its holdings in InterDigital by 3.2% during the second quarter. PFG Investments LLC now owns 13,446 shares of the Wireless communications provider’s stock worth $3,015,000 after buying an additional 416 shares during the last quarter. Truist Financial Corp boosted its holdings in InterDigital by 47.4% during the second quarter. Truist Financial Corp now owns 26,358 shares of the Wireless communications provider’s stock worth $5,910,000 after buying an additional 8,478 shares during the last quarter. Finally, Oak Family Advisors LLC boosted its holdings in InterDigital by 7.8% during the second quarter. Oak Family Advisors LLC now owns 11,440 shares of the Wireless communications provider’s stock worth $2,565,000 after buying an additional 832 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IDCC. Jefferies Financial Group restated a “hold” rating and issued a $340.00 price target on shares of InterDigital in a report on Monday, September 29th. William Blair restated an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Roth Capital boosted their price target on InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of InterDigital in a report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $345.00.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $339.90 on Friday. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 1.67 and a beta of 1.44. The business has a 50-day moving average of $303.05 and a 200-day moving average of $246.06. 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, Inc. has a fifty-two week low of $144.46 and a fifty-two week high of $361.56.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, beating the consensus estimate of $2.77 by $3.75. The company had revenue of $300.60 million during the quarter, compared to analysts’ expectations of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.InterDigital’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.57 EPS. 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, sell-side analysts predict 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 will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, October 8th. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s payout ratio is currently 19.96%.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of InterDigital 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 owned 65,122 shares of the company’s stock, valued at approximately $22,016,445.76. The trade was a 1.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of InterDigital stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $273.12, for a total transaction of $127,273.92. Following the sale, the insider directly owned 28,370 shares of the company’s stock, valued at $7,748,414.40. The trade was a 1.62% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,466 shares of company stock worth $1,016,164. 2.80% of the stock is owned by 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.