Teacher Retirement System of Texas reduced its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,745 shares of the Wireless communications provider’s stock after selling 7 shares during the period. Teacher Retirement System of Texas’ holdings in InterDigital were worth $212,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Great West Life Assurance Co. Can raised its stake in InterDigital by 9.5% in the first quarter. Great West Life Assurance Co. Can now owns 36,682 shares of the Wireless communications provider’s stock worth $3,165,000 after buying an additional 3,185 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in InterDigital by 26.9% in the first quarter. Canada Pension Plan Investment Board now owns 272,500 shares of the Wireless communications provider’s stock worth $23,517,000 after buying an additional 57,800 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in InterDigital by 1.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,070 shares of the Wireless communications provider’s stock worth $1,042,000 after buying an additional 200 shares in the last quarter. Russell Investments Group Ltd. raised its stake in InterDigital by 131.1% in the first quarter. Russell Investments Group Ltd. now owns 22,983 shares of the Wireless communications provider’s stock worth $1,984,000 after buying an additional 13,037 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in InterDigital by 17.0% in the first quarter. Janney Montgomery Scott LLC now owns 2,923 shares of the Wireless communications provider’s stock worth $252,000 after buying an additional 425 shares in the last quarter. 70.97% of the stock is currently owned by institutional investors.

InterDigital, Inc. (NASDAQ IDCC) opened at 70.10 on Wednesday. The company’s 50-day moving average is $73.83 and its 200 day moving average is $82.51. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 7.64 and a beta of 1.00. InterDigital, Inc. has a 52 week low of $67.55 and a 52 week high of $102.30.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $135.78 million during the quarter, compared to analysts’ expectations of $133.69 million. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. On average, analysts forecast that InterDigital, Inc. will post $3.61 EPS for the current fiscal year.

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A number of research firms have recently commented on IDCC. Zacks Investment Research raised shares of InterDigital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. B. Riley reaffirmed a “buy” rating and issued a $100.00 price objective on shares of InterDigital in a research note on Thursday, May 4th. ValuEngine raised shares of InterDigital from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 25th. BidaskClub lowered shares of InterDigital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. InterDigital presently has an average rating of “Hold” and an average target price of $87.75.

In other news, Director Jeffrey K. Belk sold 800 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $84.39, for a total value of $67,512.00. Following the completion of the transaction, the director now directly owns 17,801 shares in the company, valued at approximately $1,502,226.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James J. Nolan sold 2,294 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.30, for a total transaction of $163,562.20. Following the completion of the transaction, the executive vice president now owns 54,042 shares of the company’s stock, valued at $3,853,194.60. The disclosure for this sale can be found here. Insiders sold a total of 3,594 shares of company stock valued at $270,649 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

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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