Maryland State Retirement & Pension System Sells 3,913 Shares of InterDigital, Inc. $IDCC

Maryland State Retirement & Pension System cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 51.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,709 shares of the Wireless communications provider’s stock after selling 3,913 shares during the quarter. Maryland State Retirement & Pension System’s holdings in InterDigital were worth $1,280,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IDCC. Moran Wealth Management LLC boosted its position in InterDigital by 0.6% during the third quarter. Moran Wealth Management LLC now owns 4,751 shares of the Wireless communications provider’s stock worth $1,640,000 after purchasing an additional 29 shares during the period. CoreCap Advisors LLC lifted its stake in shares of InterDigital by 15.6% during the 3rd quarter. CoreCap Advisors LLC now owns 245 shares of the Wireless communications provider’s stock worth $85,000 after buying an additional 33 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of InterDigital by 0.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 11,388 shares of the Wireless communications provider’s stock worth $2,554,000 after buying an additional 41 shares during the last quarter. Creative Planning boosted its holdings in shares of InterDigital by 0.3% during the 2nd quarter. Creative Planning now owns 15,345 shares of the Wireless communications provider’s stock worth $3,441,000 after buying an additional 46 shares during the period. Finally, Leavell Investment Management Inc. grew its stake in InterDigital by 2.9% in the 3rd quarter. Leavell Investment Management Inc. now owns 1,897 shares of the Wireless communications provider’s stock valued at $655,000 after buying an additional 53 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IDCC. Roth Capital restated a “buy” rating on shares of InterDigital in a research report on Tuesday. Jefferies Financial Group set a $475.00 target price on InterDigital and gave the stock a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings downgraded InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, December 29th. UBS Group set a $425.00 price objective on InterDigital in a report on Monday, December 1st. Finally, Zacks Research downgraded InterDigital from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $416.67.

InterDigital Trading Up 5.5%

Shares of IDCC stock opened at $325.88 on Wednesday. The stock has a 50 day simple moving average of $334.71 and a 200 day simple moving average of $314.87. InterDigital, Inc. has a 1 year low of $169.87 and a 1 year high of $412.60. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.02. The stock has a market cap of $8.39 billion, a P/E ratio of 21.99 and a beta of 1.57.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 earnings per share 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 the consensus estimate of $153.43 million. InterDigital had a return on equity of 51.89% and a net margin of 53.50%.The company’s revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 EPS. 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, research analysts predict that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The company also recently disclosed 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 0.9%. The ex-dividend date is Wednesday, January 14th. InterDigital’s dividend payout ratio is presently 18.89%.

Insider Activity

In other InterDigital news, CFO Richard Brezski sold 6,981 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $330.49, for a total transaction of $2,307,150.69. Following the completion of the transaction, the chief financial officer directly owned 83,374 shares in the company, valued at $27,554,273.26. The trade was a 7.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lawrence Liren Chen sold 2,975 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $334.08, for a total value of $993,888.00. Following the sale, the chief executive officer owned 173,910 shares of the company’s stock, valued at $58,099,852.80. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 28,840 shares of company stock valued at $9,609,596 in the last 90 days. 2.30% of the stock is owned by corporate insiders.

InterDigital Company Profile

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.