Northwestern Mutual Investment Management Company LLC grew its stake in InterDigital, Inc. (NASDAQ:IDCC) by 1.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,969 shares of the Wireless communications provider’s stock after purchasing an additional 57 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in InterDigital were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of IDCC. Financial Architects Inc grew its position in shares of InterDigital by 180.0% in the second quarter. Financial Architects Inc now owns 1,400 shares of the Wireless communications provider’s stock valued at $108,000 after purchasing an additional 900 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of InterDigital by 17.5% in the second quarter. Victory Capital Management Inc. now owns 1,616 shares of the Wireless communications provider’s stock valued at $125,000 after purchasing an additional 241 shares in the last quarter. Segantii Capital Management Ltd purchased a new stake in shares of InterDigital in the first quarter valued at approximately $129,000. Elkfork Partners LLC grew its position in shares of InterDigital by 2.8% in the first quarter. Elkfork Partners LLC now owns 1,606 shares of the Wireless communications provider’s stock valued at $139,000 after purchasing an additional 44 shares in the last quarter. Finally, Meadow Creek Investment Management LLC grew its position in shares of InterDigital by 2.8% in the first quarter. Meadow Creek Investment Management LLC now owns 2,044 shares of the Wireless communications provider’s stock valued at $176,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 70.97% of the company’s stock.

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

A number of equities research analysts have recently issued reports on IDCC shares. ValuEngine upgraded InterDigital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 25th. BidaskClub lowered InterDigital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. B. Riley restated a “buy” rating and issued a $100.00 price target on shares of InterDigital in a research report on Wednesday, August 23rd. Zacks Investment Research upgraded InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Friday, August 18th. Finally, Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a research report 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 stock. The stock has a consensus rating of “Hold” and a consensus price target of $87.75.

InterDigital, Inc. (IDCC) opened at 74.65 on Monday. The company has a 50-day moving average price of $70.74 and a 200-day moving average price of $79.95. The firm has a market capitalization of $2.59 billion, a PE ratio of 8.14 and a beta of 0.95. InterDigital, Inc. has a 12-month low of $67.55 and a 12-month high of $102.30.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.05. The firm 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%. InterDigital’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 EPS. On average, analysts predict that InterDigital, Inc. will post $3.61 earnings per share for the current year.

The company also recently announced 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 a boost from InterDigital’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, October 10th. InterDigital’s payout ratio is presently 13.00%.

InterDigital announced that its board has approved a stock buyback program on Thursday, September 14th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the Wireless communications provider to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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)

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