Franklin Resources Inc. Acquires 846 Shares of InterDigital, Inc. $IDCC

Franklin Resources Inc. increased its stake in InterDigital, Inc. (NASDAQ:IDCC) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,611 shares of the Wireless communications provider’s stock after acquiring an additional 846 shares during the quarter. Franklin Resources Inc. owned 0.12% of InterDigital worth $6,864,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. New Vernon Capital Holdings II LLC increased its stake in InterDigital by 25,257.5% in the first quarter. New Vernon Capital Holdings II LLC now owns 204,889 shares of the Wireless communications provider’s stock valued at $42,361,000 after purchasing an additional 204,081 shares in the last quarter. Empowered Funds LLC increased its position in InterDigital by 303.1% in the 2nd quarter. Empowered Funds LLC now owns 143,406 shares of the Wireless communications provider’s stock valued at $32,156,000 after buying an additional 107,828 shares in the last quarter. Nuveen LLC bought a new stake in InterDigital in the 1st quarter valued at about $20,967,000. Acadian Asset Management LLC raised its stake in InterDigital by 1,556.8% during the 1st quarter. Acadian Asset Management LLC now owns 103,997 shares of the Wireless communications provider’s stock worth $21,488,000 after buying an additional 97,720 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in InterDigital by 92.1% in the second quarter. Allianz Asset Management GmbH now owns 132,094 shares of the Wireless communications provider’s stock valued at $29,619,000 after acquiring an additional 63,333 shares during the period. 99.83% of the stock is owned by institutional investors.

InterDigital Price Performance

InterDigital stock opened at $357.25 on Monday. The business’s 50 day simple moving average is $358.03 and its 200 day simple moving average is $286.38. InterDigital, Inc. has a 12 month low of $169.58 and a 12 month high of $412.60. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.88 and a beta of 1.45. 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 announced its quarterly earnings data 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. The business had revenue of $164.68 million for 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%.The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business 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. Sell-side analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s payout ratio is presently 18.89%.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director John A. Kritzmacher sold 1,250 shares of InterDigital stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $346.62, for a total transaction of $433,275.00. Following the transaction, the director directly owned 18,315 shares of the company’s stock, valued at approximately $6,348,345.30. This trade represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the transaction, the chief technology officer directly owned 65,122 shares in the company, valued at $22,016,445.76. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,966 shares of company stock worth $2,071,596 over the last ninety days. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

IDCC has been the topic of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Roth Capital lifted their price target on InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Zacks Research downgraded InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Weiss Ratings restated a “buy (a-)” rating on shares of InterDigital in a report on Monday, November 24th. Finally, Jefferies Financial Group set a $475.00 target price on shares of InterDigital and gave the stock a “buy” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $412.50.

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.