Schroder Investment Management Group cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 94.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,892 shares of the Wireless communications provider’s stock after selling 144,923 shares during the period. Schroder Investment Management Group’s holdings in InterDigital were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Seizert Capital Partners LLC raised its position in shares of InterDigital by 22.8% in the second quarter. Seizert Capital Partners LLC now owns 47,916 shares of the Wireless communications provider’s stock worth $3,704,000 after acquiring an additional 8,890 shares during the period. Arizona State Retirement System raised its position in shares of InterDigital by 2.1% in the second quarter. Arizona State Retirement System now owns 14,600 shares of the Wireless communications provider’s stock worth $1,129,000 after acquiring an additional 300 shares during the period. Strid Group LLC acquired a new position in shares of InterDigital in the second quarter worth about $4,514,000. Cubist Systematic Strategies LLC raised its position in shares of InterDigital by 116.3% in the second quarter. Cubist Systematic Strategies LLC now owns 23,618 shares of the Wireless communications provider’s stock worth $1,826,000 after acquiring an additional 12,697 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of InterDigital by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,865,421 shares of the Wireless communications provider’s stock worth $221,497,000 after acquiring an additional 40,030 shares during the period. Institutional investors own 72.91% of the company’s stock.
In related news, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James J. Nolan sold 5,020 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $75.00, for a total transaction of $376,500.00. Following the sale, the executive vice president now directly owns 49,063 shares of the company’s stock, valued at approximately $3,679,725. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,081 shares of company stock valued at $599,186. Insiders own 1.90% of the company’s stock.
IDCC has been the subject of a number of analyst reports. B. Riley reiterated a “buy” rating and issued a $100.00 price objective on shares of InterDigital in a research report on Friday, October 27th. Zacks Investment Research downgraded shares of InterDigital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, ValuEngine upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $90.00.
InterDigital, Inc. (NASDAQ:IDCC) opened at $74.95 on Friday. InterDigital, Inc. has a 1 year low of $67.55 and a 1 year 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 firm has a market cap of $2,577.32, a PE ratio of 10.26 and a beta of 0.97.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.34. InterDigital had a net margin of 42.94% and a return on equity of 32.77%. The firm had revenue of $97.30 million during the quarter, compared to the consensus estimate of $94.13 million. During the same quarter in the prior year, the firm earned $2.99 EPS. The company’s revenue for the quarter was down 53.3% on a year-over-year basis. analysts forecast that InterDigital, Inc. will post 4.04 earnings per share for the current year.
InterDigital announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 14th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the Wireless communications provider to buy up to 4.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.40 annualized dividend and a dividend yield of 1.87%. InterDigital’s dividend payout ratio (DPR) is presently 19.34%.
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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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