Bluestein R H & Co. Purchases New Stake in InterDigital, Inc. (IDCC)
Bluestein R H & Co. purchased a new position in InterDigital, Inc. (NASDAQ:IDCC) during the fourth quarter, Holdings Channel reports. The firm purchased 4,000 shares of the company’s stock, valued at approximately $365,000.
Several other hedge funds also recently bought and sold shares of IDCC. JPMorgan Chase & Co. raised its stake in InterDigital by 24.4% in the third quarter. JPMorgan Chase & Co. now owns 350,055 shares of the company’s stock worth $27,724,000 after buying an additional 68,612 shares during the period. LS Investment Advisors LLC raised its stake in InterDigital by 5.7% in the third quarter. LS Investment Advisors LLC now owns 2,203 shares of the company’s stock worth $174,000 after buying an additional 119 shares during the period. SECOR Capital Advisors LP bought a new stake in InterDigital during the third quarter worth about $1,946,000. DUPONT CAPITAL MANAGEMENT Corp raised its stake in InterDigital by 829.0% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 90,774 shares of the company’s stock worth $7,189,000 after buying an additional 81,003 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in InterDigital by 284.2% in the third quarter. Canada Pension Plan Investment Board now owns 138,300 shares of the company’s stock worth $10,953,000 after buying an additional 102,300 shares during the period. 69.84% of the stock is owned by institutional investors and hedge funds.
Shares of InterDigital, Inc. (NASDAQ:IDCC) traded down 0.55% during midday trading on Thursday, hitting $99.95. 688,052 shares of the stock traded hands. The company has a market capitalization of $3.43 billion, a PE ratio of 17.14 and a beta of 1.25. InterDigital, Inc. has a 12-month low of $46.40 and a 12-month high of $102.05. The firm’s 50 day moving average price is $92.49 and its 200 day moving average price is $80.13.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 11th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, January 9th. InterDigital’s dividend payout ratio is currently 20.55%.
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IDCC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Tuesday, November 1st. B. Riley reissued a “hold” rating and issued a $80.00 price target on shares of InterDigital in a research report on Tuesday, November 29th. Finally, Sidoti lowered shares of InterDigital from a “buy” rating to a “neutral” rating and set a $86.00 price target for the company. in a research report on Wednesday, December 7th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $82.63.
In related news, CEO William J. Merritt sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $88.32, for a total transaction of $794,880.00. Following the transaction, the chief executive officer now directly owns 123,156 shares of the company’s stock, valued at approximately $10,877,137.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey K. Belk sold 2,773 shares of the business’s stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $88.70, for a total value of $245,965.10. Following the transaction, the director now directly owns 17,784 shares in the company, valued at $1,577,440.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,930 shares of company stock worth $2,486,211. Company insiders own 1.50% of the company’s stock.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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