Gallacher Capital Management LLC acquired a new position in shares of InterDigital, Inc. (NASDAQ:IDCC – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 893 shares of the Wireless communications provider’s stock, valued at approximately $200,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of IDCC. Cetera Investment Advisers raised its holdings in InterDigital by 20.2% during the fourth quarter. Cetera Investment Advisers now owns 2,902 shares of the Wireless communications provider’s stock worth $562,000 after purchasing an additional 487 shares during the last quarter. Janus Henderson Group PLC raised its holdings in InterDigital by 12.5% during the fourth quarter. Janus Henderson Group PLC now owns 12,214 shares of the Wireless communications provider’s stock worth $2,367,000 after purchasing an additional 1,360 shares during the last quarter. Millennium Management LLC raised its holdings in InterDigital by 3,962.5% during the fourth quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider’s stock worth $24,947,000 after purchasing an additional 125,610 shares during the last quarter. Quantinno Capital Management LP acquired a new position in InterDigital during the fourth quarter worth $237,000. Finally, ProShare Advisors LLC raised its holdings in InterDigital by 21.0% during the fourth quarter. ProShare Advisors LLC now owns 9,619 shares of the Wireless communications provider’s stock worth $1,863,000 after purchasing an additional 1,669 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
Separately, Roth Capital boosted their price target on InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, InterDigital presently has a consensus rating of “Buy” and an average price target of $350.00.
View Our Latest Stock Report on InterDigital
Insider Activity
In other news, CTO Rajesh Pankaj sold 1,000 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $289.78, for a total value of $289,780.00. Following the completion of the sale, the chief technology officer owned 66,122 shares of the company’s stock, valued at $19,160,833.16. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 466 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $273.12, for a total value of $127,273.92. Following the completion of the sale, the insider directly owned 28,370 shares of the company’s stock, valued at $7,748,414.40. The trade was a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,932 shares of company stock valued at $1,010,930 in the last ninety days. Company insiders own 2.30% of the company’s stock.
InterDigital Price Performance
IDCC stock opened at $323.54 on Wednesday. The stock has a 50-day moving average price of $262.36 and a two-hundred day moving average price of $230.01. InterDigital, Inc. has a 12-month low of $134.40 and a 12-month high of $331.90. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. The company has a market cap of $8.35 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42.
InterDigital (NASDAQ:IDCC – Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $3.75. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The firm had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. During the same quarter in the previous year, the business earned $4.57 earnings per share. The firm’s quarterly revenue 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. As a group, research analysts predict that InterDigital, Inc. will post 9.21 EPS for the current year.
InterDigital Profile
(Free Report)
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.
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