Ensign Peak Advisors Inc Has $2.38 Million Stock Position in InterDigital, Inc. $IDCC

Ensign Peak Advisors Inc lowered its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 54.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,604 shares of the Wireless communications provider’s stock after selling 12,809 shares during the quarter. Ensign Peak Advisors Inc’s holdings in InterDigital were worth $2,378,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in InterDigital by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 658,877 shares of the Wireless communications provider’s stock worth $148,103,000 after purchasing an additional 12,223 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of InterDigital by 19.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 358,843 shares of the Wireless communications provider’s stock worth $74,191,000 after buying an additional 59,517 shares during the period. Invesco Ltd. raised its stake in shares of 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 buying an additional 27,853 shares during the last quarter. Congress Asset Management Co. lifted its holdings in InterDigital by 1.4% in the second quarter. Congress Asset Management Co. now owns 343,752 shares of the Wireless communications provider’s stock valued at $77,079,000 after buying an additional 4,651 shares during the period. Finally, New Vernon Capital Holdings II LLC boosted its stake in InterDigital by 25,257.5% in the first quarter. New Vernon Capital Holdings II LLC now owns 204,889 shares of the Wireless communications provider’s stock valued at $42,361,000 after acquiring an additional 204,081 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IDCC shares. William Blair reissued an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Zacks Research downgraded InterDigital from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Roth Capital raised their target price on InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Weiss Ratings restated a “buy (a-)” rating on shares of InterDigital in a research report on Monday. Finally, Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the company a “buy” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, InterDigital has an average rating of “Buy” and a consensus price target of $412.50.

Insider Activity

In related news, CTO Rajesh Pankaj sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $375.31, for a total value of $375,310.00. Following the sale, the chief technology officer directly owned 64,157 shares of the company’s stock, valued at approximately $24,078,763.67. The trade was a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Kritzmacher sold 1,250 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $346.62, for a total value of $433,275.00. Following the transaction, the director owned 18,315 shares of the company’s stock, valued at approximately $6,348,345.30. This trade represents a 6.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,432 shares of company stock worth $2,198,870 over the last quarter. 2.80% of the stock is currently owned by company insiders.

InterDigital Stock Performance

IDCC stock opened at $359.89 on Thursday. InterDigital, Inc. has a 1-year low of $169.58 and a 1-year 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 firm has a market cap of $9.27 billion, a PE ratio of 25.65, a P/E/G ratio of 1.88 and a beta of 1.45. The business’s 50-day moving average price is $357.16 and its two-hundred day moving average price is $283.96.

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

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This is an increase from InterDigital’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. InterDigital’s payout ratio is presently 18.89%.

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.