InterDigital (NASDAQ:IDCC) Hits New 52-Week High Following Analyst Upgrade

InterDigital, Inc. (NASDAQ:IDCC)’s stock price reached a new 52-week high during trading on Monday after Roth Capital raised their price target on the stock from $270.00 to $350.00. Roth Capital currently has a buy rating on the stock. InterDigital traded as high as $330.34 and last traded at $330.26, with a volume of 51503 shares changing hands. The stock had previously closed at $322.87.

Insiders Place Their Bets

In other news, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $261.03, for a total value of $261,030.00. Following the completion of the transaction, the chief technology officer owned 67,122 shares in the company, valued at approximately $17,520,855.66. This represents a 1.47% decrease in their position. The sale 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 on Friday, August 29th. The shares were sold at an average price of $273.12, for a total transaction of $127,273.92. Following the completion of the transaction, the insider owned 28,370 shares of the company’s stock, valued at approximately $7,748,414.40. This represents a 1.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,932 shares of company stock valued at $1,010,930. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On InterDigital

A number of hedge funds have recently made changes to their positions in IDCC. Twin Peaks Wealth Advisors LLC acquired a new position in shares of InterDigital in the 2nd quarter valued at $28,000. Elequin Capital LP acquired a new position in shares of InterDigital in the 4th quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in shares of InterDigital in the 1st quarter valued at $32,000. Banque Transatlantique SA acquired a new position in shares of InterDigital in the 1st quarter valued at $33,000. Finally, Headlands Technologies LLC acquired a new stake in shares of InterDigital during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Stock Up 2.0%

The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. The business’s 50-day moving average is $260.39 and its 200-day moving average is $229.36.

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, topping analysts’ consensus estimates of $2.77 by $3.75. The business had revenue of $300.60 million during the quarter, compared to analysts’ expectations of $167.93 million. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The firm’s revenue for the quarter was up 34.5% on a year-over-year basis. During the same quarter last year, the company posted $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. On average, equities analysts predict that InterDigital, Inc. will post 9.21 EPS for the current year.

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.