United Services Automobile Association bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,190 shares of the Wireless communications provider’s stock, valued at approximately $534,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IDCC. Tyers Asset Management LLC purchased a new position in InterDigital during the fourth quarter worth approximately $104,000. TrimTabs Asset Management LLC boosted its position in InterDigital by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the Wireless communications provider’s stock worth $117,000 after buying an additional 640 shares in the last quarter. Elkfork Partners LLC boosted its position in InterDigital by 2.8% in the first quarter. Elkfork Partners LLC now owns 1,606 shares of the Wireless communications provider’s stock worth $139,000 after buying an additional 44 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in InterDigital by 2.8% in the first quarter. Meadow Creek Investment Management LLC now owns 2,044 shares of the Wireless communications provider’s stock worth $176,000 after buying an additional 56 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in InterDigital by 2.8% in the first quarter. Glen Harbor Capital Management LLC now owns 2,482 shares of the Wireless communications provider’s stock worth $214,000 after buying an additional 68 shares in the last quarter. 69.31% of the stock is currently owned by institutional investors and hedge funds.
InterDigital, Inc. (NASDAQ:IDCC) traded down 2.75% during mid-day trading on Thursday, reaching $76.05. 460,057 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $79.51 and its 200 day moving average price is $85.60. InterDigital, Inc. has a one year low of $57.89 and a one year high of $102.30. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 8.55 and a beta of 1.01.
InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. InterDigital had a net margin of 48.22% and a return on equity of 43.97%. The firm had revenue of $135.78 million for the quarter, compared to the consensus estimate of $133.69 million. During the same period in the previous year, the firm posted $1.14 EPS. The business’s quarterly revenue was up 78.8% on a year-over-year basis. On average, equities analysts forecast that InterDigital, Inc. will post $3.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 12th were issued a $0.30 dividend. The ex-dividend date was Monday, July 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. InterDigital’s dividend payout ratio (DPR) is presently 13.47%.
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A number of research analysts recently commented on the company. B. Riley reissued a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research note on Thursday, May 4th. BidaskClub cut InterDigital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Benchmark Co. assumed coverage on InterDigital in a research note on Tuesday, April 25th. They issued a “hold” rating on the stock. Zacks Investment Research raised InterDigital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Finally, ValuEngine upgraded shares of InterDigital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. InterDigital has an average rating of “Hold” and an average target price of $92.50.
In related news, EVP James J. Nolan sold 8,596 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $83.83, for a total transaction of $720,602.68. Following the transaction, the executive vice president now directly owns 57,149 shares in the company, valued at approximately $4,790,800.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $79.15, for a total transaction of $39,575.00. Following the transaction, the executive vice president now owns 79,768 shares in the company, valued at $6,313,637.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,896 shares of company stock worth $1,514,730. Insiders own 1.90% of the company’s stock.
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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