InterDigital, Inc. $IDCC Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 3.9% during the 2nd quarter, Holdings Channel reports. The firm owned 8,863 shares of the Wireless communications provider’s stock after selling 363 shares during the period. State of New Jersey Common Pension Fund D’s holdings in InterDigital were worth $1,987,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in InterDigital by 19.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 358,843 shares of the Wireless communications provider’s stock worth $74,191,000 after acquiring an additional 59,517 shares during the last quarter. Invesco Ltd. boosted its position in InterDigital by 8.5% during the first quarter. Invesco Ltd. now owns 355,704 shares of the Wireless communications provider’s stock worth $73,542,000 after acquiring an additional 27,853 shares during the last quarter. Congress Asset Management Co. boosted its position in InterDigital by 1.4% during the second quarter. Congress Asset Management Co. now owns 343,752 shares of the Wireless communications provider’s stock worth $77,079,000 after acquiring an additional 4,651 shares during the last quarter. New Vernon Capital Holdings II LLC boosted its position in InterDigital by 25,257.5% during the first quarter. New Vernon Capital Holdings II LLC now owns 204,889 shares of the Wireless communications provider’s stock worth $42,361,000 after acquiring an additional 204,081 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in InterDigital by 3.7% during the first quarter. Principal Financial Group Inc. now owns 148,747 shares of the Wireless communications provider’s stock worth $30,753,000 after acquiring an additional 5,374 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction on Monday, October 6th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the sale, the chief technology officer owned 65,122 shares of the company’s stock, valued at $22,016,445.76. The trade was a 1.51% decrease in their position. The transaction 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 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 sale, the insider directly owned 28,370 shares in the company, valued at $7,748,414.40. This trade represents a 1.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,466 shares of company stock worth $1,016,164 in the last ninety days. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

InterDigital Stock Performance

NASDAQ:IDCC opened at $396.37 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.88 and a beta of 1.44. The firm’s fifty day simple moving average is $332.42 and its 200 day simple moving average is $262.60. InterDigital, Inc. has a twelve month low of $145.29 and a twelve month high of $412.60.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.14. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The firm had revenue of $164.68 million for the quarter, compared to the consensus estimate of $153.43 million. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. 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 research analysts expect that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were paid a dividend of $0.70 per share. 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. This represents a $2.80 annualized dividend and a yield of 0.7%. InterDigital’s payout ratio is presently 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.