American Century Companies Inc. Purchases 1,539 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Posted by Defense World Staff on Sep 1st, 2023

American Century Companies Inc. raised its position in shares of InterDigital, Inc. (NASDAQ:IDCC – Free Report) by 0.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 251,112 shares of the Wireless communications provider’s stock after purchasing an additional 1,539 shares during the quarter. American Century Companies Inc. owned 0.94% of InterDigital worth $18,213,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of InterDigital by 1,378,257.1% during the first quarter. Pacer Advisors Inc. now owns 289,455 shares of the Wireless communications provider’s stock valued at $21,101,000 after acquiring an additional 289,434 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of InterDigital by 236.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,457 shares of the Wireless communications provider’s stock valued at $1,210,000 after purchasing an additional 17,179 shares in the last quarter. Rowland & Co. Investment Counsel ADV boosted its position in shares of InterDigital by 3.1% during the first quarter. Rowland & Co. Investment Counsel ADV now owns 13,175 shares of the Wireless communications provider’s stock valued at $961,000 after buying an additional 397 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of InterDigital during the first quarter valued at $381,000. Finally, Neumeier Poma Investment Counsel LLC increased its holdings in InterDigital by 3.5% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 444,070 shares of the Wireless communications provider’s stock worth $21,973,000 after buying an additional 15,080 shares in the last quarter. 94.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other InterDigital news, insider Joshua D. Schmidt sold 364 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $83.52, for a total transaction of $30,401.28. Following the completion of the sale, the insider now owns 19,690 shares of the company’s stock, valued at $1,644,508.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Joshua D. Schmidt sold 364 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $83.52, for a total transaction of $30,401.28. Following the completion of the transaction, the insider now directly owns 19,690 shares in the company, valued at approximately $1,644,508.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eric Cohen sold 4,329 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $96.13, for a total transaction of $416,146.77. Following the sale, the insider now owns 25,959 shares in the company, valued at approximately $2,495,438.67. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

InterDigital Price Performance

NASDAQ IDCC opened at $86.71 on Friday. InterDigital, Inc. has a 52 week low of $40.23 and a 52 week high of $98.69. The firm has a market capitalization of $2.29 billion, a P/E ratio of 14.01, a PEG ratio of 0.88 and a beta of 1.23. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $90.17 and a 200-day moving average price of $81.74.

InterDigital (NASDAQ:IDCC – Get Free Report) last announced its earnings results on Thursday, August 3rd. The Wireless communications provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.12. InterDigital had a net margin of 33.91% and a return on equity of 30.22%. The company had revenue of $101.59 million during the quarter, compared to analyst estimates of $101.22 million. Equities research analysts anticipate that InterDigital, Inc. will post 6.85 earnings per share for the current year.

InterDigital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 12th were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, July 11th. This represents a $1.40 annualized dividend and a dividend yield of 1.61%. InterDigital’s dividend payout ratio (DPR) is 22.62%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IDCC. Bank of America upgraded shares of InterDigital from a “neutral” rating to a “buy” rating and upped their target price for the company from $55.00 to $105.00 in a research note on Wednesday, May 10th. StockNews.com started coverage on shares of InterDigital in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, William Blair started coverage on shares of InterDigital in a research note on Tuesday, August 22nd. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $92.50.

View Our Latest Analysis on IDCC

About InterDigital

(Free Report)

InterDigital, Inc, together with its subsidiaries, designs and develops technologies that enable and enhance wireless communications in the United States, China, South Korea, Japan, Taiwan, and Europe. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.