Burney Co. Sells 10,201 Shares of InterDigital, Inc. $IDCC

Burney Co. decreased its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 24.5% in the third quarter, HoldingsChannel reports. The fund owned 31,355 shares of the Wireless communications provider’s stock after selling 10,201 shares during the quarter. Burney Co.’s holdings in InterDigital were worth $10,825,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IDCC. Geode Capital Management LLC boosted its position in shares of InterDigital by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 658,877 shares of the Wireless communications provider’s stock worth $148,103,000 after purchasing an additional 12,223 shares in the last quarter. Congress Asset Management Co. increased its position in InterDigital by 2.7% during the 3rd quarter. Congress Asset Management Co. now owns 353,017 shares of the Wireless communications provider’s stock valued at $121,872,000 after buying an additional 9,265 shares in the last quarter. Norges Bank purchased a new stake in InterDigital in the second quarter valued at about $71,200,000. Ameriprise Financial Inc. boosted its holdings in InterDigital by 36.8% in the second quarter. Ameriprise Financial Inc. now owns 309,663 shares of the Wireless communications provider’s stock worth $69,433,000 after acquiring an additional 83,221 shares in the last quarter. Finally, 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 worth $42,361,000 after acquiring an additional 204,081 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other InterDigital news, Director John A. Kritzmacher sold 1,250 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $331.00, for a total transaction of $413,750.00. Following the sale, the director directly owned 15,815 shares in the company, valued at $5,234,765. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction dated 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 directly owned 64,157 shares in the company, valued at $24,078,763.67. This represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 7,466 shares of company stock valued at $2,642,279. 2.80% of the stock is currently owned by corporate insiders.

InterDigital Trading Up 0.7%

Shares of NASDAQ:IDCC opened at $330.69 on Friday. The business’s 50 day moving average price is $355.33 and its 200-day moving average price is $302.83. InterDigital, Inc. has a 1 year low of $169.58 and a 1 year high of $412.60. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 22.31 and a beta of 1.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.89 and a quick ratio of 1.89.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $164.68 million during the quarter, compared to analyst estimates of $153.43 million. InterDigital had a net margin of 53.50% and a return on equity of 51.89%. 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 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. On average, equities research analysts forecast that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on IDCC shares. William Blair reaffirmed an “outperform” rating on shares of InterDigital in a research report on Monday, September 22nd. Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the company a “buy” rating in a research note on Thursday, October 30th. UBS Group set a $425.00 price objective on shares of InterDigital in a research note on Monday, December 1st. Roth Capital boosted their price objective on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of InterDigital in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $416.67.

About InterDigital

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.