Burney Co. cut its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,627 shares of the Wireless communications provider’s stock after selling 2,089 shares during the period. Burney Co. owned 0.19% of InterDigital worth $5,277,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Tyers Asset Management LLC boosted 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 valued at $101,000 after buying an additional 32 shares in the last quarter. State Treasurer State of Michigan boosted its position in InterDigital by 0.7% in the first quarter. State Treasurer State of Michigan now owns 13,900 shares of the Wireless communications provider’s stock worth $1,200,000 after buying an additional 100 shares during the period. Great West Life Assurance Co. Can boosted its position 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 during the period. Oregon Public Employees Retirement Fund boosted its position 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 during the period. Finally, Russell Investments Group Ltd. boosted its position 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 during the period. 70.97% of the stock is owned by institutional investors and hedge funds.

InterDigital, Inc. (NASDAQ IDCC) opened at 70.70 on Friday. InterDigital, Inc. has a 52-week low of $67.55 and a 52-week high of $102.30. The firm’s 50-day moving average is $72.93 and its 200-day moving average is $81.60. The company has a market capitalization of $2.45 billion, a PE ratio of 7.71 and a beta of 0.96.

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

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A number of equities analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and set a $100.00 price objective on shares of InterDigital in a research report on Tuesday, June 13th. ValuEngine raised shares of InterDigital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 25th. BidaskClub cut shares of InterDigital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $87.75.

In other news, EVP Scott A. Mcquilkin sold 500 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $79.15, for a total transaction of $39,575.00. Following the completion of the transaction, the executive vice president now owns 79,768 shares in the company, valued at approximately $6,313,637.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James J. Nolan sold 2,294 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $71.30, for a total value of $163,562.20. Following the transaction, the executive vice president now owns 54,042 shares of the company’s stock, valued at approximately $3,853,194.60. The disclosure for this sale can be found here. Insiders have sold a total of 3,594 shares of company stock valued at $270,649 in the last quarter. 1.90% of the stock is owned by corporate 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.

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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