Fred Alger Management LLC Decreases Stock Position in InterDigital, Inc. $IDCC

Fred Alger Management LLC cut its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,443 shares of the Wireless communications provider’s stock after selling 3,428 shares during the quarter. Fred Alger Management LLC owned 0.11% of InterDigital worth $9,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in InterDigital in the second quarter valued at approximately $71,200,000. Wedge Capital Management L L P NC bought a new position in shares of InterDigital in the third quarter worth approximately $67,282,000. Empowered Funds LLC grew its holdings in shares of InterDigital by 303.1% in the second quarter. Empowered Funds LLC now owns 143,406 shares of the Wireless communications provider’s stock worth $32,156,000 after purchasing an additional 107,828 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of 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 buying an additional 83,221 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new position in shares of InterDigital in the second quarter worth $13,591,000. 99.83% of the stock is currently owned by institutional investors.

Insider Transactions at InterDigital

In other news, CFO Richard Brezski sold 6,981 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $330.49, for a total value of $2,307,150.69. Following the completion of the transaction, the chief financial officer owned 83,374 shares in the company, valued at $27,554,273.26. This trade represents a 7.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John A. Kritzmacher sold 1,250 shares of InterDigital stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $331.00, for a total value of $413,750.00. Following the sale, the director owned 15,815 shares in the company, valued at $5,234,765. This represents a 7.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 44,054 shares of company stock valued at $14,688,067. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on IDCC shares. Weiss Ratings cut shares of InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, December 29th. UBS Group set a $425.00 price objective on shares of InterDigital in a research report on Monday, December 1st. Wall Street Zen upgraded shares of InterDigital from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Zacks Research cut InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, Roth Mkm restated a “buy” rating on shares of InterDigital in a report on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $416.67.

InterDigital Trading Down 0.2%

Shares of IDCC opened at $358.31 on Tuesday. InterDigital, Inc. has a 1-year low of $180.60 and a 1-year high of $412.60. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $344.93 and its 200-day moving average price is $344.00. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 30.03 and a beta of 1.57.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, February 5th. The Wireless communications provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.47. The company had revenue of $158.23 million during the quarter, compared to the consensus estimate of $155.57 million. InterDigital had a net margin of 48.76% and a return on equity of 41.09%. InterDigital’s revenue was down 37.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.15 earnings per share. InterDigital has set its Q1 2026 guidance at 2.390-2.680 EPS. Sell-side analysts anticipate that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital 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.