Blue Trust Inc. Cuts Holdings in InterDigital, Inc. $IDCC

Blue Trust Inc. cut its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 9.1% during the 2nd quarter, Holdings Channel reports. The firm owned 1,250 shares of the Wireless communications provider’s stock after selling 125 shares during the quarter. Blue Trust Inc.’s holdings in InterDigital were worth $280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in InterDigital during the first quarter worth about $32,000. Global Wealth Strategies & Associates bought a new stake in InterDigital in the second quarter worth about $38,000. Headlands Technologies LLC bought a new stake in InterDigital in the first quarter worth about $35,000. Banque Transatlantique SA bought a new stake in InterDigital in the first quarter worth about $33,000. Finally, Concord Wealth Partners bought a new stake in InterDigital in the first quarter worth about $37,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Performance

InterDigital stock opened at $358.26 on Wednesday. The firm’s 50 day simple moving average is $306.54 and its 200 day simple moving average is $248.08. 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 $9.24 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 1.75 and a beta of 1.44. InterDigital, Inc. has a 1-year low of $144.46 and a 1-year high of $361.56.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $3.75. The business had revenue of $300.60 million for the quarter, compared to analyst estimates of $167.93 million. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. InterDigital’s revenue was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.57 EPS. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. As a group, analysts expect that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. This is a boost from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s dividend payout ratio is presently 19.96%.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief technology officer owned 67,122 shares of the company’s stock, valued at $17,520,855.66. The trade was a 1.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 466 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 28,370 shares of the company’s stock, valued at approximately $7,748,414.40. This represents a 1.62% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,466 shares of company stock valued at $1,016,164. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

IDCC has been the topic of several research reports. Roth Capital lifted their price objective 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. William Blair reissued an “outperform” rating on shares of InterDigital in a research report on Monday, September 22nd. Weiss Ratings raised shares of InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research report on Tuesday. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $340.00 price target on shares of InterDigital in a research report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $345.00.

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.