InterDigital, Inc. (IDCC) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC reduced its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 34.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,804 shares of the Wireless communications provider’s stock after selling 4,692 shares during the period. Verition Fund Management LLC’s holdings in InterDigital were worth $681,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IDCC. Bank of Nova Scotia bought a new stake in shares of InterDigital during the 1st quarter worth $21,151,000. Schroder Investment Management Group lifted its stake in InterDigital by 1,149.0% in the second quarter. Schroder Investment Management Group now owns 152,815 shares of the Wireless communications provider’s stock worth $12,103,000 after purchasing an additional 140,580 shares during the last quarter. AQR Capital Management LLC lifted its stake in InterDigital by 17.7% in the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock worth $56,834,000 after purchasing an additional 99,018 shares during the last quarter. Renaissance Technologies LLC lifted its stake in InterDigital by 20.8% in the second quarter. Renaissance Technologies LLC now owns 574,574 shares of the Wireless communications provider’s stock worth $44,415,000 after purchasing an additional 98,874 shares during the last quarter. Finally, State Street Corp lifted its stake in InterDigital by 8.2% in the second quarter. State Street Corp now owns 1,199,522 shares of the Wireless communications provider’s stock worth $92,724,000 after purchasing an additional 91,286 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

InterDigital, Inc. (IDCC) traded down 0.13% during mid-day trading on Tuesday, reaching $74.45. 10,483 shares of the company’s stock traded hands. The stock has a market capitalization of $2.58 billion, a PE ratio of 8.12 and a beta of 0.93. The stock has a 50-day moving average price of $72.64 and a 200-day moving average price of $78.33. InterDigital, Inc. has a 12-month low of $67.55 and a 12-month high of $102.30.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $133.69 million. During the same period last year, the company posted $1.14 EPS. The business’s revenue was up 78.8% on a year-over-year basis. Equities research analysts expect that InterDigital, Inc. will post $3.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be paid a $0.35 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 10th. InterDigital’s dividend payout ratio (DPR) is presently 15.17%.

InterDigital announced that its board has initiated a stock buyback program on Thursday, September 14th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the Wireless communications provider to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: “InterDigital, Inc. (IDCC) Shares Sold by Verition Fund Management LLC” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://ledgergazette.com/2017/10/17/interdigital-inc-idcc-shares-sold-by-verition-fund-management-llc.html.

In other news, EVP James J. Nolan sold 2,294 shares of the firm’s stock in a transaction dated 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 approximately $3,853,194.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the sale, the executive vice president now owns 79,319 shares of the company’s stock, valued at approximately $5,948,925. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Several research firms have weighed in on IDCC. ValuEngine downgraded shares of InterDigital from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Friday, August 18th. Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. B. Riley reissued a “buy” rating and issued a $100.00 price target on shares of InterDigital in a research note on Saturday, July 29th. Finally, BidaskClub downgraded shares of InterDigital from a “sell” rating to a “strong sell” rating in

Several other hedge funds and other institutional investors also recently bought and sold shares of IDCC. Bank of Nova Scotia bought a new stake in shares of InterDigital during the 1st quarter worth $21,151,000. Schroder Investment Management Group lifted its stake in InterDigital by 1,149.0% in the second quarter. Schroder Investment Management Group now owns 152,815 shares of the Wireless communications provider’s stock worth $12,103,000 after purchasing an additional 140,580 shares during the last quarter. AQR Capital Management LLC lifted its stake in InterDigital by 17.7% in the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock worth $56,834,000 after purchasing an additional 99,018 shares during the last quarter. Renaissance Technologies LLC lifted its stake in InterDigital by 20.8% in the second quarter. Renaissance Technologies LLC now owns 574,574 shares of the Wireless communications provider’s stock worth $44,415,000 after purchasing an additional 98,874 shares during the last quarter. Finally, State Street Corp lifted its stake in InterDigital by 8.2% in the second quarter. State Street Corp now owns 1,199,522 shares of the Wireless communications provider’s stock worth $92,724,000 after purchasing an additional 91,286 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

InterDigital, Inc. (IDCC) traded down 0.13% during mid-day trading on Tuesday, reaching $74.45. 10,483 shares of the company’s stock traded hands. The stock has a market capitalization of $2.58 billion, a PE ratio of 8.12 and a beta of 0.93. The stock has a 50-day moving average price of $72.64 and a 200-day moving average price of $78.33. InterDigital, Inc. has a 12-month low of $67.55 and a 12-month high of $102.30.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $133.69 million. During the same period last year, the company posted $1.14 EPS. The business’s revenue was up 78.8% on a year-over-year basis. Equities research analysts expect that InterDigital, Inc. will post $3.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be paid a $0.35 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 10th. InterDigital’s dividend payout ratio (DPR) is presently 15.17%.

InterDigital announced that its board has initiated a stock buyback program on Thursday, September 14th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the Wireless communications provider to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: “InterDigital, Inc. (IDCC) Shares Sold by Verition Fund Management LLC” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://ledgergazette.com/2017/10/17/interdigital-inc-idcc-shares-sold-by-verition-fund-management-llc.html.

In other news, EVP James J. Nolan sold 2,294 shares of the firm’s stock in a transaction dated 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 approximately $3,853,194.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the sale, the executive vice president now owns 79,319 shares of the company’s stock, valued at approximately $5,948,925. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Several research firms have weighed in on IDCC. ValuEngine downgraded shares of InterDigital from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Friday, August 18th. Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. B. Riley reissued a “buy” rating and issued a $100.00 price target on shares of InterDigital in a research note on Saturday, July 29th. Finally, BidaskClub downgraded shares of InterDigital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $87.75.

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.

Want to see what other hedge funds are holding IDCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterDigital, Inc. (NASDAQ:IDCC).

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

Receive News & Ratings for InterDigital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply