Retirement Systems of Alabama increased its position in InterDigital, Inc. (NASDAQ:IDCC) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,711 shares of the Wireless communications provider’s stock after buying an additional 421 shares during the period. Retirement Systems of Alabama owned 0.29% of InterDigital worth $7,862,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IDCC. Tyers Asset Management LLC raised its position in InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock worth $101,000 after buying an additional 32 shares during the period. Elkfork Partners LLC raised 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 during the period. Nisa Investment Advisors LLC raised its position in InterDigital by 0.9% in the second quarter. Nisa Investment Advisors LLC now owns 5,760 shares of the Wireless communications provider’s stock worth $461,000 after buying an additional 50 shares during the period. Meadow Creek Investment Management LLC raised 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 during the period. Finally, Glen Harbor Capital Management LLC raised 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 during the period. Hedge funds and other institutional investors own 68.49% of the company’s stock.

InterDigital, Inc. (NASDAQ:IDCC) opened at 70.05 on Monday. InterDigital, Inc. has a 52 week low of $67.04 and a 52 week high of $102.30. The stock has a 50 day moving average price of $76.21 and a 200 day moving average price of $84.16. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 7.64 and a beta of 1.00.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.05. The business had revenue of $135.78 million for the quarter, compared to analysts’ expectations of $133.69 million. InterDigital had a return on equity of 44.58% and a net margin of 45.92%. The firm’s revenue was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. On average, equities analysts forecast that InterDigital, Inc. will post $3.59 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th were paid a $0.30 dividend. The ex-dividend date was Monday, July 10th. This represents a $1.20 dividend on an annualized basis and a yield of 1.71%. InterDigital’s dividend payout ratio is presently 13.00%.

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A number of equities analysts have commented on the company. B. Riley restated a “buy” rating and set a $100.00 price objective on shares of InterDigital in a research note on Tuesday, June 13th. ValuEngine lowered InterDigital from a “strong-buy” rating to a “buy” rating in a research note on Friday. Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research upgraded InterDigital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $92.50.

In related news, Director Jeffrey K. Belk sold 800 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $84.39, for a total value of $67,512.00. Following the transaction, the director now owns 17,801 shares of the company’s stock, valued at $1,502,226.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $79.15, for a total value of $39,575.00. Following the completion of the transaction, the executive vice president now directly owns 79,768 shares in the company, valued at approximately $6,313,637.20. The disclosure for this sale can be found here. In the last three months, insiders sold 3,594 shares of company stock worth $270,649. 1.90% of the stock is owned by insiders.

About InterDigital

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.

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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