Jupiter Asset Management Ltd. Purchases New Shares in InterDigital, Inc. $IDCC

Jupiter Asset Management Ltd. purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,886 shares of the Wireless communications provider’s stock, valued at approximately $423,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IDCC. New Vernon Capital Holdings II LLC grew its stake in shares of InterDigital by 25,257.5% during 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 in the last quarter. Nuveen LLC purchased a new position in InterDigital in the first quarter valued at about $20,967,000. Acadian Asset Management LLC grew its stake in InterDigital by 1,556.8% during the 1st quarter. Acadian Asset Management LLC now owns 103,997 shares of the Wireless communications provider’s stock valued at $21,488,000 after purchasing an additional 97,720 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in InterDigital by 3,293.9% during the 1st quarter. Allianz Asset Management GmbH now owns 68,761 shares of the Wireless communications provider’s stock worth $14,216,000 after purchasing an additional 66,735 shares during the last quarter. Finally, Castellan Group acquired a new position in shares of InterDigital in the 1st quarter valued at approximately $12,572,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of InterDigital in a research report on Monday, September 22nd. Jefferies Financial Group set a $475.00 price objective on shares of InterDigital and gave the company a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “buy (a-)” rating on shares of InterDigital in a research report on Tuesday. Finally, Roth Capital increased their price target 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. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, InterDigital currently has an average rating of “Buy” and an average target price of $412.50.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was 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 in the company, valued at approximately $24,078,763.67. This trade represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Kritzmacher sold 1,250 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $360.63, for a total transaction of $450,787.50. Following the transaction, the director directly owned 19,565 shares of the company’s stock, valued at approximately $7,055,725.95. This trade represents a 6.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,182 shares of company stock valued at $2,026,625. Insiders own 2.80% of the company’s stock.

InterDigital Stock Up 0.7%

Shares of NASDAQ:IDCC opened at $348.44 on Friday. The company’s fifty day moving average is $353.21 and its two-hundred day moving average is $276.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. InterDigital, Inc. has a 1-year low of $169.58 and a 1-year high of $412.60. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.45.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, October 30th. The Wireless communications provider reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $164.68 million during the quarter, compared to the consensus estimate of $153.43 million. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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. Equities analysts anticipate that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were given 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 a positive change from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s payout ratio is currently 18.89%.

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.