Personal Capital Advisors Corp boosted its position in InterDigital, Inc. (NASDAQ:IDCC) by 71.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,799 shares of the Wireless communications provider’s stock after acquiring an additional 25,850 shares during the period. Personal Capital Advisors Corp owned 0.18% of InterDigital worth $4,558,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Adams Asset Advisors LLC purchased a new stake in shares of InterDigital during the third quarter valued at approximately $935,000. Assenagon Asset Management S.A. purchased a new stake in shares of InterDigital during the third quarter valued at approximately $4,587,000. Midas Management Corp purchased a new stake in InterDigital in the third quarter worth $1,734,000. U S Global Investors Inc. purchased a new stake in InterDigital in the second quarter worth $1,161,000. Finally, Dynamic Technology Lab Private Ltd increased its position in InterDigital by 2.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 6,405 shares of the Wireless communications provider’s stock worth $495,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.
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InterDigital, Inc. (IDCC) traded down $0.30 during trading hours on Friday, hitting $72.10. The stock had a trading volume of 288,200 shares, compared to its average volume of 334,997. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.22 and a quick ratio of 3.22. The stock has a market cap of $2,513.11, a price-to-earnings ratio of 10.00 and a beta of 0.95. InterDigital, Inc. has a 52-week low of $67.55 and a 52-week high of $102.30.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.34. InterDigital had a return on equity of 32.77% and a net margin of 42.94%. The business had revenue of $97.30 million during the quarter, compared to analyst estimates of $94.13 million. During the same quarter in the prior year, the business posted $2.99 EPS. InterDigital’s revenue for the quarter was down 53.3% compared to the same quarter last year. research analysts anticipate that InterDigital, Inc. will post 3.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th were issued a $0.35 dividend. This is an increase from InterDigital’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, October 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.94%. InterDigital’s dividend payout ratio (DPR) is presently 19.34%.
InterDigital declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 14th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the Wireless communications provider to purchase up to 4.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Jannie K. Lau sold 2,561 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $72.31, for a total transaction of $185,185.91. Following the transaction, the executive vice president now directly owns 19,496 shares of the company’s stock, valued at $1,409,755.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the transaction, the executive vice president now directly owns 79,319 shares in the company, valued at $5,948,925. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
IDCC has been the subject of several research analyst reports. Zacks Investment Research lowered InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 24th. B. Riley reiterated a “buy” rating and issued a $100.00 price objective on shares of InterDigital in a report on Friday, October 27th. ValuEngine downgraded InterDigital from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Finally, Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $89.00.
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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