Wedge Capital Management L L P NC Acquires New Stake in InterDigital, Inc. $IDCC

Wedge Capital Management L L P NC acquired a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 194,891 shares of the Wireless communications provider’s stock, valued at approximately $67,282,000. InterDigital comprises 1.1% of Wedge Capital Management L L P NC’s holdings, making the stock its 16th biggest holding. Wedge Capital Management L L P NC owned about 0.76% of InterDigital at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IDCC. Twin Peaks Wealth Advisors LLC bought a new position in InterDigital in the 2nd quarter worth about $28,000. Global Wealth Strategies & Associates purchased a new position in InterDigital in the second quarter worth about $38,000. Banque Transatlantique SA bought a new position in shares of InterDigital in the first quarter worth approximately $33,000. Quarry LP grew its holdings in shares of InterDigital by 642.9% during the first quarter. Quarry LP now owns 208 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 180 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of InterDigital by 530.3% during the second quarter. Huntington National Bank now owns 208 shares of the Wireless communications provider’s stock valued at $47,000 after acquiring an additional 175 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IDCC has been the topic of several recent analyst reports. Jefferies Financial Group set a $475.00 target price on InterDigital and gave the company a “buy” rating in a research note on Thursday, October 30th. William Blair reaffirmed an “outperform” rating on shares of InterDigital in a research report on Monday, September 22nd. Roth Capital lifted their price objective on InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 12th. UBS Group set a $425.00 target price on shares of InterDigital in a research note on Monday, December 1st. Finally, Zacks Research lowered shares of InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $416.67.

Insider Transactions at InterDigital

In other news, Director John A. Kritzmacher sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $357.37, for a total value of $446,712.50. Following the transaction, the director owned 17,065 shares of the company’s stock, valued at $6,098,519.05. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Rajesh Pankaj sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief technology officer owned 64,157 shares of the company’s stock, valued at approximately $24,078,763.67. This trade represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,216 shares of company stock worth $2,228,529 in the last three months. Corporate insiders own 2.80% of the company’s stock.

InterDigital Trading Up 3.5%

Shares of NASDAQ:IDCC opened at $334.40 on Friday. The stock’s 50-day simple moving average is $358.67 and its two-hundred day simple moving average is $299.77. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 22.56 and a beta of 1.54. InterDigital, Inc. has a 52-week low of $169.58 and a 52-week high of $412.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.89 and a current ratio of 1.89.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, October 30th. The Wireless communications provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. The firm had revenue of $164.68 million for the quarter, compared to analysts’ expectations of $153.43 million. InterDigital had a net margin of 53.50% and a return on equity of 51.89%. The business’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS. InterDigital has set its FY 2025 guidance at 14.570-14.830 EPS and its Q4 2025 guidance at 1.380-1.630 EPS. Analysts expect that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. InterDigital’s payout ratio is presently 18.89%.

InterDigital Company Profile

InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.

The company’s principal services include patent licensing, technology evaluation and consulting.