Parametrica Management Ltd acquired a new position in InterDigital, Inc. (NASDAQ:IDCC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,440 shares of the Wireless communications provider’s stock, valued at approximately $254,000.
A number of other institutional investors have also modified their holdings of IDCC. Prudential Financial Inc. grew its position in InterDigital by 11.6% in the first quarter. Prudential Financial Inc. now owns 24,178 shares of the Wireless communications provider’s stock worth $2,087,000 after acquiring an additional 2,522 shares during the period. OppenheimerFunds Inc. purchased a new position in InterDigital in the first quarter worth approximately $229,000. Teachers Advisors LLC grew its position in InterDigital by 5.3% in the first quarter. Teachers Advisors LLC now owns 60,779 shares of the Wireless communications provider’s stock worth $5,245,000 after acquiring an additional 3,053 shares during the period. Legal & General Group Plc grew its position in InterDigital by 24.2% in the first quarter. Legal & General Group Plc now owns 21,879 shares of the Wireless communications provider’s stock worth $1,886,000 after acquiring an additional 4,270 shares during the period. Finally, Thrivent Financial For Lutherans grew its position in InterDigital by 10.8% in the first quarter. Thrivent Financial For Lutherans now owns 7,073 shares of the Wireless communications provider’s stock worth $612,000 after acquiring an additional 690 shares during the period. Institutional investors own 75.33% of the company’s stock.
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In other news, EVP Scott A. Mcquilkin sold 500 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $75.00, for a total value of $37,500.00. Following the sale, the executive vice president now directly owns 79,319 shares in the company, valued at $5,948,925. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James J. Nolan sold 2,294 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.30, for a total value of $163,562.20. Following the completion of the sale, the executive vice president now owns 54,042 shares in the company, valued at $3,853,194.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,355 shares of company stock worth $386,248. Insiders own 1.90% of the company’s stock.
IDCC has been the subject of several research analyst reports. Zacks Investment Research upgraded InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Friday, August 18th. BidaskClub lowered InterDigital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. B. Riley restated a “buy” rating and set a $100.00 price target on shares of InterDigital in a research report on Wednesday, August 23rd. Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, ValuEngine lowered InterDigital from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $89.00.
InterDigital, Inc. (NASDAQ IDCC) opened at $72.65 on Friday. InterDigital, Inc. has a 52-week low of $67.55 and a 52-week high of $102.30. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.22 and a current ratio of 3.22. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 10.11 and a beta of 0.95.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.66 by $0.34. InterDigital had a return on equity of 32.77% and a net margin of 42.94%. The business had revenue of $97.30 million during the quarter, compared to analyst estimates of $94.13 million. During the same period last year, the business posted $2.99 earnings per share. The company’s quarterly revenue was down 53.3% on a year-over-year basis. equities research analysts predict that InterDigital, Inc. will post 3.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th were paid a $0.35 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Tuesday, October 10th. InterDigital’s dividend payout ratio (DPR) is presently 19.34%.
InterDigital announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 14th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the Wireless communications provider to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
InterDigital Company Profile
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.
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