Los Angeles Capital Management LLC acquired a new position in InterDigital, Inc. (NASDAQ:IDCC – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 24,835 shares of the Wireless communications provider’s stock, valued at approximately $1,229,000. Los Angeles Capital Management LLC owned about 0.08% of InterDigital at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of IDCC. Victory Capital Management Inc. boosted its holdings in InterDigital by 66.3% in the 3rd quarter. Victory Capital Management Inc. now owns 371,776 shares of the Wireless communications provider’s stock worth $15,027,000 after buying an additional 148,221 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in InterDigital by 13.2% in the 4th quarter. Boston Trust Walden Corp now owns 615,013 shares of the Wireless communications provider’s stock worth $30,431,000 after buying an additional 71,477 shares during the last quarter. Capital Management Corp VA boosted its holdings in InterDigital by 20.9% in the 4th quarter. Capital Management Corp VA now owns 398,159 shares of the Wireless communications provider’s stock worth $19,701,000 after buying an additional 68,960 shares during the last quarter. Vanguard Group Inc. boosted its holdings in InterDigital by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,411,704 shares of the Wireless communications provider’s stock worth $217,667,000 after buying an additional 49,177 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in InterDigital by 100.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 95,885 shares of the Wireless communications provider’s stock worth $5,830,000 after purchasing an additional 48,025 shares in the last quarter. 83.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on IDCC shares. TheStreet raised shares of InterDigital from a “c+” rating to a “b” rating in a research note on Monday, January 23rd. StockNews.com started coverage on shares of InterDigital in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, William Blair started coverage on shares of InterDigital in a research note on Thursday, January 26th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, InterDigital currently has an average rating of “Hold” and a consensus price target of $70.00.
InterDigital Stock Down 0.4 %
InterDigital (NASDAQ:IDCC – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The Wireless communications provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.92 by $0.16. The firm had revenue of $117.10 million for the quarter, compared to analyst estimates of $113.93 million. InterDigital had a net margin of 20.47% and a return on equity of 13.02%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 EPS. On average, equities research analysts anticipate that InterDigital, Inc. will post 2.54 EPS for the current year.
InterDigital Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 12th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, April 11th. InterDigital’s payout ratio is presently 45.31%.
Insider Activity
In other InterDigital news, CFO Richard Brezski sold 10,386 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $73.77, for a total value of $766,175.22. Following the sale, the chief financial officer now owns 91,496 shares of the company’s stock, valued at $6,749,659.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other InterDigital news, insider Eeva K. Hakoranta sold 766 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $73.05, for a total value of $55,956.30. Following the sale, the insider now owns 20,200 shares of the company’s stock, valued at $1,475,610. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard Brezski sold 10,386 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $73.77, for a total value of $766,175.22. Following the completion of the sale, the chief financial officer now directly owns 91,496 shares in the company, valued at approximately $6,749,659.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,160 shares of company stock valued at $1,774,134. 1.20% of the stock is currently owned by company insiders.
About InterDigital
InterDigital, Inc engages in the design and development of technologies that enable and enhance wireless communications, and capabilities. It focuses on mobile technology and devices, which includes cellular wireless technology, Internet of Things, technology, video coding & transmission, sensor and sensor fusion technology.
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