Cornerstone Capital Management Holdings LLC. Grows Holdings in InterDigital, Inc. (IDCC)

Cornerstone Capital Management Holdings LLC. boosted its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 169.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,300 shares of the Wireless communications provider’s stock after purchasing an additional 19,059 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.09% of InterDigital worth $2,234,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Seizert Capital Partners LLC increased its holdings in InterDigital by 22.8% during the 2nd quarter. Seizert Capital Partners LLC now owns 47,916 shares of the Wireless communications provider’s stock worth $3,704,000 after purchasing an additional 8,890 shares during the period. Arizona State Retirement System increased its holdings in InterDigital by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 14,600 shares of the Wireless communications provider’s stock worth $1,129,000 after purchasing an additional 300 shares during the period. Strid Group LLC purchased a new position in InterDigital during the 2nd quarter worth $4,514,000. Cubist Systematic Strategies LLC increased its holdings in InterDigital by 116.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 23,618 shares of the Wireless communications provider’s stock worth $1,826,000 after purchasing an additional 12,697 shares during the period. Finally, Vanguard Group Inc. increased its holdings in InterDigital by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,865,421 shares of the Wireless communications provider’s stock worth $221,497,000 after purchasing an additional 40,030 shares during the period. Institutional investors own 72.88% of the company’s stock.

In other news, EVP Jannie K. Lau sold 2,561 shares of InterDigital stock in a transaction on Monday, October 30th. The stock was sold at an average price of $72.31, for a total value of $185,185.91. Following the transaction, the executive vice president now directly owns 19,496 shares in the company, valued at approximately $1,409,755.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of InterDigital stock in a transaction on Friday, September 29th. The shares were sold at an average price of $75.00, for a total value of $37,500.00. Following the completion of the transaction, the executive vice president now owns 79,319 shares in the company, valued at $5,948,925. The disclosure for this sale can be found here. Insiders sold a total of 8,081 shares of company stock worth $599,186 over the last quarter. Company insiders own 1.90% of the company’s stock.

Several research analysts have commented on IDCC shares. B. Riley restated a “buy” rating and set a $100.00 price objective on shares of InterDigital in a report on Friday, October 27th. Zacks Investment Research downgraded InterDigital from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, ValuEngine upgraded InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $90.00.

InterDigital, Inc. (NASDAQ:IDCC) opened at $76.95 on Thursday. InterDigital, Inc. has a fifty-two week low of $67.55 and a fifty-two week high of $102.30. The stock has a market capitalization of $2,670.00, a price-to-earnings ratio of 10.45 and a beta of 0.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.22 and a quick ratio of 3.22.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.34. InterDigital had a return on equity of 17.67% and a net margin of 35.68%. The business had revenue of $97.30 million for the quarter, compared to the consensus estimate of $94.13 million. During the same period last year, the business posted $2.99 EPS. The business’s revenue was down 53.3% compared to the same quarter last year. sell-side analysts anticipate that InterDigital, Inc. will post 4.04 earnings per share for the current fiscal year.

InterDigital declared that its Board of Directors has initiated a share buyback 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 generally a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.82%. InterDigital’s dividend payout ratio is presently 19.34%.

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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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