Blueshift Asset Management LLC Buys Shares of 1,515 InterDigital, Inc. $IDCC

Blueshift Asset Management LLC purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC) during the 2nd quarter, Holdings Channel reports. The fund purchased 1,515 shares of the Wireless communications provider’s stock, valued at approximately $340,000.

A number of other hedge funds have also modified their holdings of the business. Bank of Montreal Can boosted its stake in InterDigital by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 109,222 shares of the Wireless communications provider’s stock worth $24,491,000 after buying an additional 911 shares during the last quarter. Inspire Investing LLC boosted its position in shares of InterDigital by 37.9% in the first quarter. Inspire Investing LLC now owns 15,227 shares of the Wireless communications provider’s stock worth $3,148,000 after acquiring an additional 4,188 shares during the last quarter. Bessemer Group Inc. grew its holdings in InterDigital by 6.1% in the second quarter. Bessemer Group Inc. now owns 121,627 shares of the Wireless communications provider’s stock valued at $27,273,000 after purchasing an additional 7,005 shares during the period. Prudential Financial Inc. grew its holdings in InterDigital by 7.4% in the second quarter. Prudential Financial Inc. now owns 26,993 shares of the Wireless communications provider’s stock valued at $6,053,000 after purchasing an additional 1,863 shares during the period. Finally, State of Alaska Department of Revenue increased its position in InterDigital by 8.5% during the second quarter. State of Alaska Department of Revenue now owns 15,447 shares of the Wireless communications provider’s stock worth $3,462,000 after purchasing an additional 1,215 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of the firm’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 transaction of $375,310.00. Following the completion of the sale, the chief technology officer owned 64,157 shares in the company, valued at $24,078,763.67. This trade represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Kritzmacher sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $346.62, for a total value of $433,275.00. Following the completion of the transaction, the director directly owned 18,315 shares in the company, valued at approximately $6,348,345.30. The trade was a 6.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 5,966 shares of company stock valued at $2,071,596. 2.30% of the stock is currently owned by insiders.

InterDigital Stock Up 1.2%

Shares of NASDAQ:IDCC opened at $341.84 on Thursday. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.71 and a beta of 1.54. The company has a 50 day moving average of $357.81 and a two-hundred day moving average of $288.55. InterDigital, Inc. has a 52-week low of $169.58 and a 52-week high of $412.60. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.02.

InterDigital (NASDAQ:IDCC) last posted its 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. The business 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 revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. InterDigital has set its FY 2025 guidance at 14.570-14.830 EPS and its Q4 2025 guidance at 1.380-1.630 EPS. As a group, analysts forecast that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were paid a dividend of $0.70 per share. This is a boost from InterDigital’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, October 8th. InterDigital’s payout ratio is 18.89%.

Analyst Ratings Changes

A number of brokerages have weighed in on IDCC. Zacks Research lowered shares of InterDigital from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. UBS Group set a $425.00 price target on InterDigital in a research report on Monday. Roth Capital upped their price target on InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Jefferies Financial Group set a $475.00 price objective on InterDigital and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, William Blair reissued an “outperform” rating on shares of InterDigital in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, InterDigital presently has a consensus rating of “Buy” and a consensus target price of $416.67.

InterDigital 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.