First Trust Advisors LP Sells 58,133 Shares of InterDigital, Inc. $IDCC

First Trust Advisors LP decreased its position in InterDigital, Inc. (NASDAQ:IDCC) by 10.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 477,853 shares of the Wireless communications provider’s stock after selling 58,133 shares during the quarter. First Trust Advisors LP owned approximately 1.85% of InterDigital worth $107,149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IDCC. Twin Peaks Wealth Advisors LLC bought a new stake in shares of InterDigital in the second quarter worth about $28,000. Banque Transatlantique SA bought a new position in InterDigital during the 1st quarter valued at approximately $33,000. Headlands Technologies LLC purchased a new stake in InterDigital in the 1st quarter worth approximately $35,000. Global Wealth Strategies & Associates bought a new stake in shares of InterDigital in the 2nd quarter worth approximately $38,000. Finally, Quarry LP increased its stake 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 period. 99.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CTO Rajesh Pankaj sold 1,000 shares of the company’s stock in a transaction that occurred 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 owned 64,157 shares in the company, valued at $24,078,763.67. This represents a 1.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 466 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $395.63, for a total value of $184,363.58. Following the transaction, the insider directly owned 27,928 shares of the company’s stock, valued at approximately $11,049,154.64. This trade represents a 1.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,966 shares of company stock worth $1,781,816 in the last 90 days. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on IDCC shares. William Blair reaffirmed an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Zacks Research lowered shares of InterDigital from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Jefferies Financial Group set a $475.00 target price on shares of InterDigital and gave the stock a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (a-)” rating on shares of InterDigital in a research report on Monday. Finally, UBS Group set a $425.00 price target on shares of InterDigital in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $416.67.

InterDigital Stock Performance

Shares of IDCC stock opened at $355.18 on Friday. The company’s fifty day moving average price is $358.25 and its 200-day moving average price is $289.94. The stock has a market cap of $9.15 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 12 month low of $169.58 and a 12 month high of $412.60.

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

InterDigital Dividend Announcement

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