Canada Pension Plan Investment Board cut its stake in InterDigital, Inc. (NASDAQ:IDCC) by 24.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 205,984 shares of the Wireless communications provider’s stock after selling 66,516 shares during the period. Canada Pension Plan Investment Board owned approximately 0.59% of InterDigital worth $15,923,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of IDCC. Vanguard Group Inc. boosted its stake in shares of InterDigital by 3.3% in the first quarter. Vanguard Group Inc. now owns 2,825,391 shares of the Wireless communications provider’s stock valued at $243,831,000 after buying an additional 89,997 shares during the last quarter. State Street Corp boosted its stake in InterDigital by 2.0% in the first quarter. State Street Corp now owns 1,108,236 shares of the Wireless communications provider’s stock worth $95,642,000 after buying an additional 21,278 shares in the last quarter. AQR Capital Management LLC boosted its stake in InterDigital by 17.7% in the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock worth $56,834,000 after buying an additional 99,018 shares in the last quarter. Geode Capital Management LLC boosted its stake in InterDigital by 5.1% in the first quarter. Geode Capital Management LLC now owns 392,469 shares of the Wireless communications provider’s stock worth $33,870,000 after buying an additional 19,139 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its stake in InterDigital by 29.7% in the first quarter. Gotham Asset Management LLC now owns 371,155 shares of the Wireless communications provider’s stock worth $32,031,000 after buying an additional 84,884 shares in the last quarter. 68.49% of the stock is currently owned by institutional investors.

InterDigital, Inc. (IDCC) opened at 70.35 on Wednesday. The company has a market capitalization of $2.44 billion, a P/E ratio of 7.67 and a beta of 1.00. InterDigital, Inc. has a one year low of $67.05 and a one year high of $102.30. The stock’s 50 day moving average price is $75.62 and its 200-day moving average price is $83.72.

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

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

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A number of research analysts have recently issued reports on IDCC shares. Benchmark Co. started coverage on InterDigital in a report on Tuesday, April 25th. They set a “hold” rating on the stock. B. Riley reaffirmed a “buy” rating and set a $100.00 price target on shares of InterDigital in a report on Saturday, April 29th. Zacks Investment Research raised InterDigital from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine raised InterDigital from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 25th. Finally, BidaskClub downgraded InterDigital from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. InterDigital presently has an average rating of “Hold” and a consensus target price of $92.50.

In related news, EVP James J. Nolan sold 2,294 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $71.30, for a total transaction of $163,562.20. Following the transaction, the executive vice president now directly owns 54,042 shares in the company, valued at approximately $3,853,194.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey K. Belk sold 800 shares of the business’s 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 in the company, valued at $1,502,226.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,594 shares of company stock worth $270,649. 1.90% of the stock is owned by company insiders.

InterDigital Company Profile

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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Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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