Arkadios Wealth Advisors Has $3.12 Million Stock Holdings in InterDigital, Inc. $IDCC

Arkadios Wealth Advisors lessened its position in InterDigital, Inc. (NASDAQ:IDCC) by 22.0% during the second quarter, Holdings Channel reports. The institutional investor owned 13,894 shares of the Wireless communications provider’s stock after selling 3,914 shares during the quarter. Arkadios Wealth Advisors’ holdings in InterDigital were worth $3,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in InterDigital in the 1st quarter valued at approximately $32,000. Global Wealth Strategies & Associates acquired a new stake in InterDigital in the 2nd quarter valued at approximately $38,000. Headlands Technologies LLC acquired a new stake in InterDigital in the 1st quarter valued at approximately $35,000. Banque Transatlantique SA acquired a new stake in InterDigital in the 1st quarter valued at approximately $33,000. Finally, Concord Wealth Partners acquired a new stake in InterDigital in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IDCC shares. Roth Capital lifted their target price on InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 12th. William Blair reissued an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Jefferies Financial Group raised InterDigital from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Monday. Finally, Weiss Ratings upgraded InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, InterDigital currently has a consensus rating of “Buy” and a consensus target price of $400.00.

InterDigital Stock Performance

IDCC opened at $382.87 on Thursday. The business has a fifty day simple moving average of $329.66 and a 200 day simple moving average of $261.67. The company has a market capitalization of $9.88 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44. InterDigital, Inc. has a 1 year low of $145.29 and a 1 year high of $393.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, beating the consensus estimate of $2.77 by $3.75. The firm had revenue of $300.60 million during the quarter, compared to analysts’ expectations of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The company’s quarterly revenue was up 34.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.57 EPS. Research analysts expect that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $2.80 annualized dividend and a yield of 0.7%. This is a boost from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s payout ratio is presently 19.96%.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 466 shares of InterDigital stock in a transaction on Friday, August 29th. The stock was sold at an average price of $273.12, for a total value of $127,273.92. Following the completion of the transaction, the insider directly owned 28,370 shares of the company’s stock, valued at $7,748,414.40. The trade was a 1.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $261.03, for a total value of $261,030.00. Following the completion of the transaction, the chief technology officer directly owned 67,122 shares of the company’s stock, valued at $17,520,855.66. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,466 shares of company stock valued at $1,016,164 over the last ninety days. Insiders own 2.80% of the company’s stock.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.