Prudential Financial Inc. boosted its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 17.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,633 shares of the Wireless communications provider’s stock after acquiring an additional 4,160 shares during the quarter. Prudential Financial Inc. owned 0.08% of InterDigital worth $2,038,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. State of Tennessee Treasury Department raised its position in InterDigital by 10.0% during the third quarter. State of Tennessee Treasury Department now owns 110,000 shares of the Wireless communications provider’s stock valued at $8,113,000 after acquiring an additional 10,000 shares in the last quarter. Empirical Finance LLC raised its position in InterDigital by 8.9% during the third quarter. Empirical Finance LLC now owns 27,580 shares of the Wireless communications provider’s stock valued at $2,035,000 after acquiring an additional 2,244 shares in the last quarter. SignalPoint Asset Management LLC purchased a new position in InterDigital during the third quarter valued at approximately $454,000. Parametrica Management Ltd purchased a new position in InterDigital during the third quarter valued at approximately $254,000. Finally, Victory Capital Management Inc. increased its position in shares of InterDigital by 52.2% in the third quarter. Victory Capital Management Inc. now owns 2,459 shares of the Wireless communications provider’s stock valued at $181,000 after buying an additional 843 shares in the last quarter. Institutional investors own 72.92% of the company’s stock.

In other InterDigital news, EVP Jannie K. Lau sold 2,561 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $72.31, for a total transaction of $185,185.91. Following the transaction, the executive vice president now owns 19,496 shares of the company’s stock, valued at $1,409,755.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James J. Nolan sold 5,020 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $75.00, for a total value of $376,500.00. Following the transaction, the executive vice president now directly owns 49,063 shares in the company, valued at approximately $3,679,725. The disclosure for this sale can be found here. Insiders have sold 8,081 shares of company stock worth $599,186 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

A number of analysts have recently commented on the company. B. Riley restated a “buy” rating and issued a $100.00 price objective on shares of InterDigital in a research report on Monday. Zacks Investment Research cut InterDigital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 24th. ValuEngine upgraded InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Finally, Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $89.00.

Shares of InterDigital, Inc. (IDCC) opened at $76.30 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.22 and a quick ratio of 3.22. The stock has a market capitalization of $2,573.85, a P/E ratio of 10.24 and a beta of 0.97. InterDigital, Inc. has a 12 month low of $67.55 and a 12 month high of $102.30.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.34. The company had revenue of $97.30 million for the quarter, compared to analyst estimates of $94.13 million. InterDigital had a return on equity of 32.77% and a net margin of 42.94%. The firm’s revenue for the quarter was down 53.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.99 earnings per share. research analysts predict that InterDigital, Inc. will post 4.04 EPS for the current fiscal year.

InterDigital declared that its Board of Directors has approved a stock buyback plan on Thursday, September 14th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the Wireless communications provider to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

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About InterDigital

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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