PNC Financial Services Group Inc. Has $686,000 Stock Position in InterDigital, Inc. $IDCC

PNC Financial Services Group Inc. increased its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 13.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,061 shares of the Wireless communications provider’s stock after acquiring an additional 354 shares during the quarter. PNC Financial Services Group Inc.’s holdings in InterDigital were worth $686,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Banque Transatlantique SA purchased a new position in InterDigital during the 1st quarter worth approximately $33,000. Headlands Technologies LLC acquired a new stake in shares of InterDigital in the first quarter worth $35,000. Global Wealth Strategies & Associates acquired a new stake in shares of InterDigital in the second quarter worth $38,000. 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 in the last quarter. Finally, Huntington National Bank raised its position in 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 buying an additional 175 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

InterDigital Stock Up 0.1%

IDCC opened at $327.63 on Friday. InterDigital, Inc. has a fifty-two week low of $169.58 and a fifty-two week high of $412.60. The business has a 50-day moving average of $355.50 and a 200-day moving average of $280.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96. The company has a market capitalization of $8.43 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.88 and a beta of 1.45.

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

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, October 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s payout ratio is 18.89%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (a-)” rating on shares of InterDigital in a research note on Monday, November 17th. Roth Capital upped their target price on InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a report on Friday, September 12th. William Blair restated an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Finally, Jefferies Financial Group set a $475.00 price objective 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 and three have given a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $412.50.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of InterDigital 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 completion of the sale, the chief technology officer 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Kritzmacher sold 1,250 shares of the stock in a transaction on Tuesday, November 11th. The stock was 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 in the company, valued at $7,055,725.95. The trade was a 6.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 5,182 shares of company stock valued at $1,765,595. Insiders own 2.80% of the company’s stock.

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.