Hennessy Advisors Inc. Buys Shares of 482 InterDigital, Inc. $IDCC

Hennessy Advisors Inc. purchased a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 482 shares of the Wireless communications provider’s stock, valued at approximately $108,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. New Vernon Capital Holdings II LLC boosted its position in InterDigital by 25,257.5% during the 1st quarter. New Vernon Capital Holdings II LLC now owns 204,889 shares of the Wireless communications provider’s stock worth $42,361,000 after buying an additional 204,081 shares during the period. Bessemer Group Inc. raised its stake in shares of InterDigital by 152,729.3% during the first quarter. Bessemer Group Inc. now owns 114,622 shares of the Wireless communications provider’s stock valued at $23,700,000 after acquiring an additional 114,547 shares during the last quarter. Nuveen LLC acquired a new position in shares of InterDigital during the first quarter worth $20,967,000. Acadian Asset Management LLC grew its stake in shares of InterDigital by 1,556.8% in the first quarter. Acadian Asset Management LLC now owns 103,997 shares of the Wireless communications provider’s stock worth $21,488,000 after purchasing an additional 97,720 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of InterDigital by 2,687.9% in the first quarter. SG Americas Securities LLC now owns 74,494 shares of the Wireless communications provider’s stock worth $15,402,000 after purchasing an additional 71,822 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insider Activity at InterDigital

In related news, insider Joshua D. Schmidt sold 466 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $273.12, for a total transaction of $127,273.92. Following the completion of the sale, the insider owned 28,370 shares in the company, valued at approximately $7,748,414.40. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the chief technology officer directly owned 67,122 shares of the company’s stock, valued at $17,520,855.66. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,466 shares of company stock worth $678,084. 2.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of InterDigital in a research report on Saturday, September 27th. Roth Capital increased 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. William Blair reaffirmed an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $340.00 target price on shares of InterDigital in a report on Monday, September 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $345.00.

InterDigital Stock Performance

NASDAQ IDCC opened at $339.10 on Monday. The company has a market cap of $8.75 billion, a P/E ratio of 24.17, a PEG ratio of 1.67 and a beta of 1.44. The company has a fifty day simple moving average of $292.70 and a 200 day simple moving average of $241.98. 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, Inc. has a 12-month low of $142.35 and a 12-month high of $361.56.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, topping 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 company had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. During the same period in the previous year, the firm posted $4.57 earnings per share. The firm’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 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The business 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 is a boost from InterDigital’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, October 8th. InterDigital’s dividend payout ratio is 19.96%.

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.