New York State Teachers Retirement System Sells 3,045 Shares of InterDigital, Inc. $IDCC

New York State Teachers Retirement System cut its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 9.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,443 shares of the Wireless communications provider’s stock after selling 3,045 shares during the quarter. New York State Teachers Retirement System’s holdings in InterDigital were worth $8,590,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IDCC. Price T Rowe Associates Inc. MD raised its stake in shares of InterDigital by 62.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,222,111 shares of the Wireless communications provider’s stock worth $707,477,000 after purchasing an additional 854,845 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of InterDigital by 18.6% in the 4th quarter. Geode Capital Management LLC now owns 787,546 shares of the Wireless communications provider’s stock valued at $251,250,000 after buying an additional 123,686 shares during the last quarter. Invesco Ltd. grew its stake in shares of InterDigital by 24.8% in the fourth quarter. Invesco Ltd. now owns 450,863 shares of the Wireless communications provider’s stock valued at $143,546,000 after buying an additional 89,647 shares in the last quarter. Reinhart Partners LLC. grew its stake in shares of InterDigital by 1.3% in the fourth quarter. Reinhart Partners LLC. now owns 417,639 shares of the Wireless communications provider’s stock valued at $132,973,000 after buying an additional 5,293 shares in the last quarter. Finally, Norges Bank acquired a new position in InterDigital during the fourth quarter worth $128,918,000. 99.83% of the stock is currently owned by institutional investors.

InterDigital Stock Performance

IDCC traded down $6.00 during trading hours on Tuesday, reaching $276.88. The company’s stock had a trading volume of 10,312 shares, compared to its average volume of 379,072. InterDigital, Inc. has a 52 week low of $213.06 and a 52 week high of $412.60. The company’s 50-day moving average is $279.28 and its 200-day moving average is $318.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $7.15 billion, a PE ratio of 25.99 and a beta of 1.42.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, April 30th. The Wireless communications provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.03. The company had revenue of $205.42 million for the quarter, compared to analyst estimates of $196.85 million. InterDigital had a net margin of 44.20% and a return on equity of 35.25%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.45 earnings per share. InterDigital has set its Q2 2026 guidance at 1.410-1.600 EPS and its FY 2026 guidance at 8.740-11.840 EPS. On average, equities analysts forecast that InterDigital, Inc. will post 7.41 EPS for the current year.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, July 8th. InterDigital’s dividend payout ratio is currently 26.37%.

Insider Activity

In other news, Director Jean F. Rankin sold 365 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $276.64, for a total transaction of $100,973.60. Following the completion of the sale, the director owned 28,938 shares in the company, valued at $8,005,408.32. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Samir Armaly sold 470 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $276.64, for a total value of $130,020.80. Following the completion of the transaction, the director directly owned 4,608 shares in the company, valued at $1,274,757.12. The trade was a 9.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 4,372 shares of company stock valued at $1,225,159. Company insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of InterDigital in a research report on Wednesday, March 18th. Weiss Ratings lowered shares of InterDigital from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $416.67.

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.