NJ State Employees Deferred Compensation Plan Invests $464,000 in InterDigital, Inc. (NASDAQ:IDCC)

NJ State Employees Deferred Compensation Plan bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,000 shares of the Wireless communications provider’s stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Teachers Advisors LLC boosted its position in shares of InterDigital by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 57,726 shares of the Wireless communications provider’s stock worth $5,273,000 after buying an additional 1,524 shares during the period. Capstone Asset Management Co. raised its stake in InterDigital by 3.0% in the first quarter. Capstone Asset Management Co. now owns 6,119 shares of the Wireless communications provider’s stock valued at $528,000 after buying an additional 180 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in InterDigital by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 8,700 shares of the Wireless communications provider’s stock valued at $751,000 after buying an additional 200 shares in the last quarter. Retirement Systems of Alabama raised its stake in InterDigital by 13.5% in the first quarter. Retirement Systems of Alabama now owns 101,290 shares of the Wireless communications provider’s stock valued at $8,741,000 after buying an additional 12,019 shares in the last quarter. Finally, Navellier & Associates Inc raised its stake in InterDigital by 7.6% in the first quarter. Navellier & Associates Inc now owns 12,965 shares of the Wireless communications provider’s stock valued at $1,119,000 after buying an additional 917 shares in the last quarter. 68.49% of the stock is owned by institutional investors.

Shares of InterDigital, Inc. (NASDAQ:IDCC) traded down 0.36% during mid-day trading on Friday, reaching $68.90. 293,591 shares of the company were exchanged. The company’s 50 day moving average price is $74.74 and its 200 day moving average price is $83.35. InterDigital, Inc. has a 12 month low of $67.05 and a 12 month high of $102.30. The firm has a market capitalization of $2.39 billion, a PE ratio of 7.51 and a beta of 1.00.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.05. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. The business had revenue of $135.78 million for the quarter, compared to analyst estimates of $133.69 million. During the same quarter in the previous year, the business earned $1.14 earnings per share. The firm’s revenue was up 78.8% compared to the same quarter last year. Equities analysts anticipate that InterDigital, Inc. will post $3.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 12th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, July 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.74%. InterDigital’s dividend payout ratio is currently 13.00%.

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Several analysts have recently commented on the stock. Benchmark Co. assumed coverage on shares of InterDigital in a research report on Tuesday, April 25th. They issued a “hold” rating on the stock. B. Riley reiterated a “buy” rating and issued a $100.00 price target on shares of InterDigital in a research report on Saturday, April 29th. Zacks Investment Research upgraded shares of InterDigital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 26th. ValuEngine upgraded shares of InterDigital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 25th. Finally, BidaskClub lowered shares of InterDigital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $87.75.

In other news, EVP Scott A. Mcquilkin sold 500 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $79.15, for a total transaction of $39,575.00. Following the sale, the executive vice president now owns 79,768 shares in the company, valued at $6,313,637.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey K. Belk sold 800 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $84.39, for a total transaction of $67,512.00. Following the sale, the director now owns 17,801 shares in the company, valued at approximately $1,502,226.39. The disclosure for this sale can be found here. Insiders have sold 3,594 shares of company stock worth $270,649 in the last 90 days. 1.90% of the stock is owned by company insiders.

About InterDigital

InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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