InterDigital Inc. (IDCC) Shares Sold by Hays Advisory LLC
Hays Advisory LLC lowered its stake in InterDigital Inc. (NASDAQ:IDCC) by 9.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,207 shares of the company’s stock after selling 13,519 shares during the period. InterDigital accounts for approximately 1.7% of Hays Advisory LLC’s holdings, making the stock its 10th largest position. Hays Advisory LLC owned 0.37% of InterDigital worth $10,075,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new stake in InterDigital during the second quarter valued at approximately $10,714,000. Nomura Holdings Inc. boosted its stake in InterDigital by 1,495.2% in the second quarter. Nomura Holdings Inc. now owns 143,660 shares of the company’s stock valued at $8,024,000 after buying an additional 134,654 shares in the last quarter. Renaissance Technologies LLC boosted its stake in InterDigital by 48.0% in the first quarter. Renaissance Technologies LLC now owns 223,693 shares of the company’s stock valued at $12,449,000 after buying an additional 72,500 shares in the last quarter. Fort L.P. boosted its stake in InterDigital by 38.1% in the second quarter. Fort L.P. now owns 248,977 shares of the company’s stock valued at $13,863,000 after buying an additional 68,648 shares in the last quarter. Finally, Dean Investment Associates LLC bought a new stake in InterDigital during the second quarter valued at approximately $3,257,000. Institutional investors and hedge funds own 70.43% of the company’s stock.
InterDigital Inc. (NASDAQ:IDCC) traded up 1.03% during mid-day trading on Monday, reaching $78.35. 303,530 shares of the company’s stock were exchanged. The company has a market cap of $2.69 billion, a PE ratio of 13.44 and a beta of 1.07. The stock has a 50-day moving average price of $76.11 and a 200 day moving average price of $65.96. InterDigital Inc. has a 52-week low of $41.01 and a 52-week high of $81.30.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, October 27th. The company reported $2.99 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by $0.09. The company earned $208.30 million during the quarter, compared to the consensus estimate of $210.68 million. InterDigital had a net margin of 40.78% and a return on equity of 33.71%. The business’s revenue was up 107.5% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. Equities analysts predict that InterDigital Inc. will post $5.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, October 7th. This is a boost from InterDigital’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. InterDigital’s dividend payout ratio is 20.55%.
Several analysts recently commented on IDCC shares. Barclays PLC raised their price target on shares of InterDigital from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 9th. Dougherty & Co cut shares of InterDigital from a “buy” rating to a “neutral” rating in a report on Wednesday, October 5th. TheStreet upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 target price for the company in a research note on Saturday, August 6th. Finally, B. Riley reiterated a “neutral” rating and issued a $80.00 target price on shares of InterDigital in a research note on Saturday, October 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $79.67.
In other news, CFO Richard Brezski sold 6,807 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $70.00, for a total value of $476,490.00. Following the completion of the sale, the chief financial officer now directly owns 20,556 shares of the company’s stock, valued at approximately $1,438,920. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jannie K. Lau sold 2,010 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $78.35, for a total value of $157,483.50. Following the completion of the sale, the executive vice president now directly owns 14,244 shares of the company’s stock, valued at $1,116,017.40. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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