Ritholtz Wealth Management Acquires 768 Shares of InterDigital, Inc. $IDCC

Ritholtz Wealth Management boosted its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,161 shares of the Wireless communications provider’s stock after acquiring an additional 768 shares during the quarter. Ritholtz Wealth Management owned approximately 0.12% of InterDigital worth $6,987,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of InterDigital by 7.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider’s stock worth $928,000 after purchasing an additional 316 shares in the last quarter. Inspire Investing LLC lifted its holdings in InterDigital by 37.9% during the 1st quarter. Inspire Investing LLC now owns 15,227 shares of the Wireless communications provider’s stock worth $3,148,000 after buying an additional 4,188 shares in the last quarter. Cerity Partners LLC boosted its position in InterDigital by 91.2% in the 1st quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider’s stock valued at $533,000 after buying an additional 1,229 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in InterDigital by 3.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 43,660 shares of the Wireless communications provider’s stock valued at $9,790,000 after buying an additional 1,502 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of InterDigital by 8.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 15,447 shares of the Wireless communications provider’s stock valued at $3,462,000 after buying an additional 1,215 shares during the period. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insiders Place Their Bets

In other InterDigital news, insider Joshua D. Schmidt sold 466 shares of InterDigital stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $273.12, for a total transaction of $127,273.92. Following the transaction, the insider directly owned 28,370 shares in the company, valued at approximately $7,748,414.40. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Rajesh Pankaj sold 1,000 shares of the business’s stock in a transaction dated 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 directly owned 67,122 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders have sold 3,466 shares of company stock worth $1,016,164. Insiders own 2.30% of the company’s stock.

InterDigital Trading Up 0.4%

NASDAQ:IDCC opened at $358.26 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 1-year low of $144.46 and a 1-year high of $361.56. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.75 and a beta of 1.44. The business’s 50-day moving average price is $306.54 and its two-hundred day moving average price is $248.08.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $3.75. The company had revenue of $300.60 million during the quarter, compared to analysts’ expectations of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.InterDigital’s revenue was up 34.5% on a year-over-year basis. During the same period in the prior year, the business 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. On average, equities analysts expect that InterDigital, Inc. will post 9.21 earnings per share for the current year.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.8%. This is a boost from InterDigital’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, October 8th. InterDigital’s dividend payout ratio (DPR) is 19.96%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IDCC. Weiss Ratings raised InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research note on Tuesday. Jefferies Financial Group restated a “hold” rating and set a $340.00 target price on shares of InterDigital in a research report on Monday, September 29th. Roth Capital raised their target price on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, InterDigital has an average rating of “Buy” and a consensus target price 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.