InterDigital, Inc. $IDCC Shares Bought by Burney Co.

Burney Co. lifted its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 2,071.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 41,556 shares of the Wireless communications provider’s stock after purchasing an additional 39,642 shares during the period. Burney Co.’s holdings in InterDigital were worth $9,318,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of IDCC. Price T Rowe Associates Inc. MD lifted its holdings in InterDigital by 19.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 358,843 shares of the Wireless communications provider’s stock worth $74,191,000 after acquiring an additional 59,517 shares during the last quarter. Invesco Ltd. grew its holdings in shares of InterDigital by 8.5% during the first quarter. Invesco Ltd. now owns 355,704 shares of the Wireless communications provider’s stock valued at $73,542,000 after purchasing an additional 27,853 shares during the last quarter. Congress Asset Management Co. raised its position in shares of InterDigital by 1.4% during the 2nd quarter. Congress Asset Management Co. now owns 343,752 shares of the Wireless communications provider’s stock worth $77,079,000 after purchasing an additional 4,651 shares during the period. New Vernon Capital Holdings II LLC lifted its holdings in shares of InterDigital by 25,257.5% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 204,889 shares of the Wireless communications provider’s stock worth $42,361,000 after purchasing an additional 204,081 shares during the last quarter. Finally, Emerald Advisers LLC lifted its holdings in shares of InterDigital by 15.5% in the 2nd quarter. Emerald Advisers LLC now owns 174,499 shares of the Wireless communications provider’s stock worth $39,128,000 after purchasing an additional 23,402 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Analyst Ratings Changes

IDCC has been the topic of several analyst reports. Weiss Ratings raised InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research report on Tuesday, October 14th. Roth Capital upped their price target on shares of InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Jefferies Financial Group set a $475.00 price objective on shares of InterDigital in a research report on Thursday. Finally, William Blair restated an “outperform” rating on shares of InterDigital in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $412.50.

Insider Activity at InterDigital

In other news, insider Joshua D. Schmidt sold 466 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $273.12, for a total value of $127,273.92. Following the sale, the insider owned 28,370 shares of the company’s stock, valued at approximately $7,748,414.40. The trade was a 1.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Rajesh Pankaj sold 1,000 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the chief technology officer owned 65,122 shares of the company’s stock, valued at approximately $22,016,445.76. This trade represents a 1.51% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,466 shares of company stock worth $1,016,164. 2.80% of the stock is owned by corporate insiders.

InterDigital Price Performance

Shares of IDCC opened at $361.96 on Monday. InterDigital, Inc. has a one year low of $145.29 and a one year high of $412.60. The stock’s fifty day moving average is $334.33 and its 200-day moving average is $264.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44.

InterDigital (NASDAQ:IDCC) last announced its 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. The firm had revenue of $164.68 million during the quarter, compared to analyst estimates of $153.43 million. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. InterDigital’s revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm 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 analysts anticipate that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Investors 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, October 8th. InterDigital’s dividend payout ratio (DPR) is 18.89%.

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.