Peterson Wealth Services Purchases Shares of 2,002 InterDigital, Inc. $IDCC

Peterson Wealth Services purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,002 shares of the Wireless communications provider’s stock, valued at approximately $449,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Wayfinding Financial LLC bought a new stake in shares of InterDigital in the 1st quarter valued at $32,000. Banque Transatlantique SA bought a new position in shares of InterDigital in the 1st quarter worth about $33,000. Headlands Technologies LLC acquired a new stake in shares of InterDigital in the 1st quarter valued at about $35,000. Concord Wealth Partners acquired a new stake in shares of InterDigital in the 1st quarter worth about $37,000. Finally, Global Wealth Strategies & Associates bought a new stake in shares of InterDigital in the 2nd quarter worth $38,000. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Up 1.2%

Shares of IDCC stock opened at $378.62 on Friday. The company’s fifty day simple moving average is $322.62 and its two-hundred day simple moving average is $257.14. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 52 week low of $144.46 and a 52 week high of $384.34. The stock has a market cap of $9.77 billion, a P/E ratio of 26.99, a PEG ratio of 1.84 and a beta of 1.44.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, topping the consensus estimate of $2.77 by $3.75. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The business had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. During the same period last year, the company earned $4.57 earnings per share. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. Analysts predict that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, October 8th. This is a boost from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s payout ratio is presently 19.96%.

Insider Activity

In other InterDigital news, insider Joshua D. Schmidt sold 466 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $273.12, for a total value of $127,273.92. Following the completion of the transaction, the insider owned 28,370 shares of the company’s stock, valued at $7,748,414.40. This trade represents a 1.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $261.03, for a total transaction of $261,030.00. Following the completion of the transaction, the chief technology officer owned 67,122 shares of the company’s stock, valued at $17,520,855.66. This represents a 1.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,466 shares of company stock valued at $1,016,164. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Roth Capital lifted their price objective on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $340.00 price target on shares of InterDigital in a research note on Monday, September 29th. William Blair restated an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Finally, Weiss Ratings upgraded shares of InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $345.00.

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.