HBK Investments L P Reduces Holdings in InterDigital (NASDAQ:IDCC)

HBK Investments L P decreased its position in InterDigital (NASDAQ:IDCC) by 38.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,920 shares of the Wireless communications provider’s stock after selling 29,980 shares during the quarter. HBK Investments L P owned about 0.14% of InterDigital worth $3,649,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IDCC. First Trust Advisors LP lifted its holdings in shares of InterDigital by 58.9% during the third quarter. First Trust Advisors LP now owns 62,460 shares of the Wireless communications provider’s stock valued at $4,606,000 after purchasing an additional 23,156 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of InterDigital during the third quarter valued at $518,000. Victory Capital Management Inc. lifted its holdings in shares of InterDigital by 52.2% during the third quarter. Victory Capital Management Inc. now owns 2,459 shares of the Wireless communications provider’s stock valued at $181,000 after purchasing an additional 843 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of InterDigital by 17.7% during the third quarter. Prudential Financial Inc. now owns 27,633 shares of the Wireless communications provider’s stock valued at $2,038,000 after purchasing an additional 4,160 shares during the last quarter. Finally, Boston Partners purchased a new stake in shares of InterDigital during the third quarter valued at $4,079,000. Institutional investors and hedge funds own 74.16% of the company’s stock.

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InterDigital stock traded down $0.70 during mid-day trading on Friday, hitting $75.40. The company’s stock had a trading volume of 207,218 shares, compared to its average volume of 219,526. The company has a market cap of $2,610.88, a P/E ratio of 12.44 and a beta of 0.93. 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 has a 52-week low of $67.55 and a 52-week high of $93.00.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, February 22nd. The Wireless communications provider reported $2.68 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $205.30 million during the quarter, compared to the consensus estimate of $191.42 million. During the same period in the prior year, the business earned $3.85 EPS. The business’s revenue for the quarter was down 25.0% on a year-over-year basis. equities analysts forecast that InterDigital will post 1.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Monday, April 23rd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, April 20th. InterDigital’s payout ratio is currently 23.10%.

Several brokerages have recently commented on IDCC. BidaskClub raised InterDigital from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research downgraded InterDigital from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. B. Riley reduced their price objective on InterDigital from $100.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Finally, Dougherty & Co raised InterDigital from a “neutral” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $88.67.

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InterDigital Profile

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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