UBS Asset Management Americas Inc. lowered its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 48.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,492 shares of the Wireless communications provider’s stock after selling 19,025 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in InterDigital were worth $1,560,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its holdings in InterDigital by 7.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 213,564 shares of the Wireless communications provider’s stock valued at $15,751,000 after buying an additional 14,670 shares during the last quarter. James Investment Research Inc. grew its holdings in InterDigital by 6.1% in the 4th quarter. James Investment Research Inc. now owns 59,811 shares of the Wireless communications provider’s stock valued at $4,554,000 after buying an additional 3,432 shares during the last quarter. New Amsterdam Partners LLC NY grew its holdings in InterDigital by 2.9% in the 4th quarter. New Amsterdam Partners LLC NY now owns 64,758 shares of the Wireless communications provider’s stock valued at $4,931,000 after buying an additional 1,818 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of InterDigital by 3.2% during the 3rd quarter. Stifel Financial Corp now owns 54,198 shares of the Wireless communications provider’s stock worth $3,997,000 after purchasing an additional 1,675 shares in the last quarter. Finally, Vident Investment Advisory LLC acquired a new stake in shares of InterDigital during the 3rd quarter worth approximately $2,934,000. 74.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IDCC stock opened at $74.15 on Wednesday. InterDigital, Inc. has a fifty-two week low of $67.55 and a fifty-two week high of $93.00. The firm has a market capitalization of $2,553.76, a P/E ratio of 12.15 and a beta of 0.99. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.33.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, February 22nd. The Wireless communications provider reported $2.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $1.60. InterDigital had a return on equity of 26.52% and a net margin of 32.70%. The company had revenue of $205.30 million for the quarter, compared to analyst estimates of $191.42 million. During the same quarter last year, the firm earned $3.85 EPS. InterDigital’s revenue for the quarter was down 25.0% compared to the same quarter last year. research analysts expect that InterDigital, Inc. will post 1.58 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Monday, April 23rd will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, April 20th. InterDigital’s payout ratio is presently 28.75%.
Several analysts have recently weighed in on IDCC shares. B. Riley reissued a “buy” rating and set a $100.00 price objective on shares of InterDigital in a report on Wednesday, January 3rd. Zacks Investment Research raised InterDigital from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, February 27th. Dougherty & Co raised InterDigital from a “neutral” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Friday, February 23rd. Finally, BidaskClub raised InterDigital from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. InterDigital presently has an average rating of “Hold” and a consensus target price of $88.67.
In related news, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $76.50, for a total transaction of $38,250.00. Following the completion of the transaction, the executive vice president now owns 78,881 shares in the company, valued at approximately $6,034,396.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,272 shares of company stock valued at $95,594 in the last 90 days. 1.90% of the stock is owned by corporate insiders.
TRADEMARK VIOLATION WARNING: “InterDigital, Inc. (IDCC) Shares Sold by UBS Asset Management Americas Inc.” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international trademark and copyright legislation. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/03/21/interdigital-inc-idcc-shares-sold-by-ubs-asset-management-americas-inc.html.
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.
Want to see what other hedge funds are holding IDCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterDigital, Inc. (NASDAQ:IDCC).
Receive News & Ratings for InterDigital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital and related companies with MarketBeat.com's FREE daily email newsletter.