InterDigital, Inc. (IDCC) Shares Sold by New Amsterdam Partners LLC NY
New Amsterdam Partners LLC NY reduced its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,940 shares of the Wireless communications provider’s stock after selling 827 shares during the quarter. New Amsterdam Partners LLC NY owned 0.18% of InterDigital worth $4,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in IDCC. Koch Industries Inc. lifted its holdings in shares of InterDigital by 5,919.7% during the second quarter. Koch Industries Inc. now owns 473,089 shares of the Wireless communications provider’s stock valued at $467,000 after purchasing an additional 465,230 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of 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 purchasing an additional 140,580 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of InterDigital by 20.8% during the second quarter. Renaissance Technologies LLC now owns 574,574 shares of the Wireless communications provider’s stock valued at $44,415,000 after purchasing an additional 98,874 shares in the last quarter. State Street Corp lifted its holdings in shares of InterDigital by 8.2% during the second quarter. State Street Corp now owns 1,199,522 shares of the Wireless communications provider’s stock valued at $92,724,000 after purchasing an additional 91,286 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of InterDigital by 3.3% during the first quarter. Vanguard Group Inc. now owns 2,825,391 shares of the Wireless communications provider’s stock valued at $243,831,000 after purchasing an additional 89,997 shares in the last quarter. 74.90% of the stock is currently owned by hedge funds and other institutional investors.
In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $75.00, for a total value of $37,500.00. Following the completion of the sale, the executive vice president now owns 79,319 shares in the company, valued at $5,948,925. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jannie K. Lau sold 2,561 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $72.31, for a total value of $185,185.91. Following the completion of the sale, the executive vice president now owns 19,496 shares of the company’s stock, valued at approximately $1,409,755.76. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
InterDigital, Inc. (NASDAQ IDCC) traded down $0.25 during trading on Tuesday, reaching $72.95. The company had a trading volume of 92,950 shares, compared to its average volume of 280,777. The stock has a market capitalization of $2,530.00, a PE ratio of 10.03 and a beta of 0.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.22 and a current ratio of 3.22. InterDigital, Inc. has a 12 month low of $67.55 and a 12 month high of $102.30.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.34. The business had revenue of $97.30 million during the quarter, compared to analysts’ expectations of $94.13 million. InterDigital had a return on equity of 32.77% and a net margin of 42.94%. The business’s quarterly revenue was down 53.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.99 earnings per share. equities research analysts anticipate that InterDigital, Inc. will post 3.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th were given a $0.35 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, October 10th. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. InterDigital’s dividend payout ratio is presently 19.34%.
InterDigital announced that its Board of Directors has approved a share repurchase program on Thursday, September 14th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts have recently issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $100.00 price target on shares of InterDigital in a report on Monday, July 24th. BidaskClub cut InterDigital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut InterDigital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, ValuEngine cut InterDigital from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $89.00.
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.
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