14,434 Shares in InterDigital, Inc. (IDCC) Acquired by Capital Fund Management S.A.
Capital Fund Management S.A. purchased a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,434 shares of the Wireless communications provider’s stock, valued at approximately $1,116,000.
A number of other large investors have also bought and sold shares of the stock. Schroder Investment Management Group raised its position in InterDigital by 1,149.0% during the second quarter. Schroder Investment Management Group now owns 152,815 shares of the Wireless communications provider’s stock valued at $12,103,000 after buying an additional 140,580 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in InterDigital during the second quarter valued at $256,000. Northwestern Mutual Investment Management Company LLC raised its position in InterDigital by 1.0% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 5,969 shares of the Wireless communications provider’s stock valued at $332,000 after buying an additional 57 shares during the period. Seizert Capital Partners LLC raised its position in InterDigital by 22.8% during the second quarter. Seizert Capital Partners LLC now owns 47,916 shares of the Wireless communications provider’s stock valued at $3,704,000 after buying an additional 8,890 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in InterDigital by 1.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,062 shares of the Wireless communications provider’s stock valued at $391,000 after buying an additional 51 shares during the period. 70.97% of the stock is currently owned by hedge funds and other institutional investors.
InterDigital, Inc. (IDCC) opened at 74.65 on Friday. The firm has a 50-day moving average price of $70.74 and a 200-day moving average price of $79.95. The stock has a market cap of $2.59 billion, a P/E ratio of 8.14 and a beta of 0.95. InterDigital, Inc. has a 52 week low of $67.55 and a 52 week high of $102.30.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share (EPS) for the quarter, beating 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 quarter last year, the business posted $1.14 EPS. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, equities research analysts predict that InterDigital, Inc. will post $3.61 EPS for the current year.
InterDigital announced that its board has initiated a stock buyback plan on Thursday, September 14th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the Wireless communications provider to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be paid a $0.35 dividend. This is an increase from InterDigital’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, October 10th. This represents a $1.40 annualized dividend and a dividend yield of 1.88%. InterDigital’s dividend payout ratio (DPR) is currently 13.00%.
Several research firms recently weighed in on IDCC. B. Riley reissued a “buy” rating and set a $100.00 price target on shares of InterDigital in a research report on Thursday, June 8th. ValuEngine raised InterDigital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 25th. Zacks Investment Research raised InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Friday, August 18th. Sidoti raised InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, BidaskClub downgraded InterDigital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $87.75.
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In other InterDigital news, EVP James J. Nolan sold 2,294 shares of InterDigital stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.30, for a total value of $163,562.20. Following the sale, the executive vice president now owns 54,042 shares of the company’s stock, valued at approximately $3,853,194.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott A. Mcquilkin sold 500 shares of InterDigital stock in a transaction dated 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 sale, 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. Company insiders own 1.90% of the company’s stock.
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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