Ethic Inc. Makes New $206,000 Investment in InterDigital, Inc. $IDCC

Ethic Inc. bought a new stake in InterDigital, Inc. (NASDAQ:IDCC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 892 shares of the Wireless communications provider’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its position in shares of InterDigital by 71.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,258 shares of the Wireless communications provider’s stock valued at $975,000 after buying an additional 1,779 shares during the period. Allianz Asset Management GmbH increased its stake in InterDigital by 92.1% during the second quarter. Allianz Asset Management GmbH now owns 132,094 shares of the Wireless communications provider’s stock worth $29,619,000 after acquiring an additional 63,333 shares during the last quarter. New York State Teachers Retirement System raised its position in InterDigital by 0.3% in the second quarter. New York State Teachers Retirement System now owns 30,090 shares of the Wireless communications provider’s stock valued at $6,747,000 after purchasing an additional 100 shares during the period. Ritholtz Wealth Management lifted its stake in shares of InterDigital by 2.5% in the 2nd quarter. Ritholtz Wealth Management now owns 31,161 shares of the Wireless communications provider’s stock valued at $6,987,000 after purchasing an additional 768 shares during the last quarter. Finally, Moran Wealth Management LLC lifted its stake in shares of InterDigital by 20.8% in the 2nd quarter. Moran Wealth Management LLC now owns 4,722 shares of the Wireless communications provider’s stock valued at $1,059,000 after purchasing an additional 814 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IDCC. Jefferies Financial Group set a $475.00 price objective on InterDigital in a research report on Thursday. Roth Capital lifted their price target on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 12th. William Blair reissued an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Finally, Weiss Ratings upgraded shares of InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, InterDigital currently has an average rating of “Buy” and an average target price of $412.50.

InterDigital Stock Down 8.7%

Shares of NASDAQ IDCC opened at $361.96 on Friday. The stock has a market cap of $9.34 billion, a P/E ratio of 25.80, a PEG ratio of 1.88 and a beta of 1.44. The business’s fifty day simple moving average is $334.33 and its 200-day simple moving average is $263.72. InterDigital, Inc. has a 12-month low of $145.29 and a 12-month high of $412.60. 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 (NASDAQ:IDCC) last released its earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.79 by $0.14. The firm had revenue of $164.68 million during the quarter, compared to analysts’ expectations of $153.43 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 28.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. 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 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 was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.8%. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Wednesday, October 8th. InterDigital’s dividend payout ratio is 19.96%.

Insider Buying and Selling

In other news, insider Joshua D. Schmidt sold 466 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $273.12, for a total value of $127,273.92. Following the sale, the insider directly owned 28,370 shares in the company, valued at approximately $7,748,414.40. This trade represents a 1.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $261.03, for a total transaction of $261,030.00. Following the sale, the chief technology officer directly owned 67,122 shares of the company’s stock, valued at approximately $17,520,855.66. This trade represents a 1.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,466 shares of company stock valued at $1,016,164 in the last quarter. 2.80% of the stock is owned by insiders.

InterDigital 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.