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.

WARNING: “14,434 Shares in InterDigital, Inc. (IDCC) Acquired by Capital Fund Management S.A.” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/09/16/14434-shares-in-interdigital-inc-idcc-acquired-by-capital-fund-management-s-a.html.

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 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)

Receive News & Stock Ratings for InterDigital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital Inc. and related stocks with our FREE daily email newsletter.