InterDigital, Inc. $IDCC Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC raised its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 33.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,501 shares of the Wireless communications provider’s stock after buying an additional 632 shares during the period. Portside Wealth Group LLC’s holdings in InterDigital were worth $561,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Banque Transatlantique SA acquired a new stake in InterDigital during the first quarter worth about $33,000. Headlands Technologies LLC purchased a new stake in InterDigital in the 1st quarter worth approximately $35,000. Global Wealth Strategies & Associates acquired a new stake in shares of InterDigital during the 2nd quarter worth approximately $38,000. Quarry LP lifted its stake in shares of InterDigital by 642.9% in the 1st quarter. Quarry LP now owns 208 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 180 shares during the period. Finally, Huntington National Bank boosted its holdings in InterDigital by 530.3% during the second quarter. Huntington National Bank now owns 208 shares of the Wireless communications provider’s stock worth $47,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

InterDigital Trading Down 0.9%

Shares of InterDigital stock opened at $335.94 on Wednesday. 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 twelve month low of $169.58 and a twelve month high of $412.60. The firm has a market capitalization of $8.65 billion, a PE ratio of 23.94, a P/E/G ratio of 1.88 and a beta of 1.45. The firm’s 50-day moving average price is $354.60 and its 200 day moving average price is $278.98.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The business 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%.The business’s revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 earnings per share. InterDigital has set its FY 2025 guidance at 14.570-14.830 EPS. Q4 2025 guidance at 1.380-1.630 EPS. On average, sell-side analysts predict that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were paid a dividend of $0.70 per share. This is a boost 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 0.8%. InterDigital’s dividend payout ratio is presently 18.89%.

Wall Street Analyst Weigh In

IDCC has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of InterDigital in a report on Monday. Jefferies Financial Group set a $475.00 target price on InterDigital and gave the company a “buy” rating in a research report on Thursday, October 30th. 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. Finally, William Blair reiterated 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 issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $412.50.

Insider Transactions at InterDigital

In other news, Director John A. Kritzmacher sold 1,250 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $360.63, for a total value of $450,787.50. Following the completion of the sale, the director directly owned 19,565 shares in the company, valued at $7,055,725.95. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joshua D. Schmidt sold 466 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $395.63, for a total transaction of $184,363.58. Following the completion of the transaction, the insider directly owned 27,928 shares in the company, valued at approximately $11,049,154.64. This represents a 1.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,182 shares of company stock valued at $1,765,595 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

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.