Geode Capital Management LLC Raises Stock Position in InterDigital, Inc. $IDCC

Geode Capital Management LLC boosted its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 658,877 shares of the Wireless communications provider’s stock after acquiring an additional 12,223 shares during the period. Geode Capital Management LLC owned 2.55% of InterDigital worth $148,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in shares of InterDigital during the first quarter worth $33,000. Headlands Technologies LLC purchased a new position in InterDigital during the 1st quarter worth $35,000. Global Wealth Strategies & Associates purchased a new position in InterDigital during the 2nd quarter worth $38,000. Quarry LP increased its position in InterDigital by 642.9% during the 1st quarter. Quarry LP now owns 208 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 180 shares in the last quarter. Finally, Huntington National Bank raised its stake in InterDigital by 530.3% in the second quarter. Huntington National Bank now owns 208 shares of the Wireless communications provider’s stock valued at $47,000 after buying an additional 175 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $335.94 on Wednesday. InterDigital, Inc. has a twelve month low of $169.58 and a twelve 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. The company has a market cap of $8.65 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.88 and a beta of 1.45. The company’s 50 day moving average is $354.60 and its 200 day moving average is $278.98.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, October 30th. The Wireless communications provider reported $1.93 EPS for the quarter, beating the consensus estimate 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 net margin of 51.92% and a return on equity of 53.44%. The business’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. On average, 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. Shareholders of record on Wednesday, October 8th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, October 8th. This is an increase from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s dividend payout ratio (DPR) is 18.89%.

Insider Activity

In other news, insider Joshua D. Schmidt sold 466 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $395.63, for a total value of $184,363.58. Following the sale, the insider owned 27,928 shares in the company, valued at $11,049,154.64. This represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the sale, the chief technology officer directly owned 65,122 shares in the company, valued at approximately $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 sold a total of 5,182 shares of company stock valued at $1,765,595 in the last quarter. 2.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IDCC has been the subject of several recent analyst reports. William Blair reissued an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Roth Capital lifted their target price on shares of InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Weiss Ratings restated a “buy (a-)” rating on shares of InterDigital in a research note on Monday. Finally, Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the stock a “buy” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat, InterDigital currently has an average rating of “Buy” and a consensus price target of $412.50.

InterDigital Company 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.