InterDigital, Inc. (NASDAQ:IDCC) Stake Raised by Acadian Asset Management LLC
Acadian Asset Management LLC raised its position in InterDigital, Inc. (NASDAQ:IDCC) by 67.8% during the second quarter, Holdings Channel reports. The fund owned 8,991 shares of the Wireless communications provider’s stock after buying an additional 3,633 shares during the period. Acadian Asset Management LLC’s holdings in InterDigital were worth $695,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Tyers Asset Management LLC increased its stake in shares of InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock worth $101,000 after buying an additional 32 shares during the last quarter. Financial Architects Inc increased its stake 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 worth $108,000 after buying an additional 900 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in shares of InterDigital by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the Wireless communications provider’s stock worth $117,000 after buying an additional 640 shares during the last quarter. Segantii Capital Management Ltd acquired a new stake in shares of InterDigital during the first quarter worth about $129,000. Finally, Elkfork Partners LLC increased its stake 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 worth $139,000 after buying an additional 44 shares during the last quarter. 69.33% of the stock is owned by hedge funds and other institutional investors.
InterDigital, Inc. (NASDAQ IDCC) traded up 0.57% during trading on Friday, reaching $70.05. The company’s stock had a trading volume of 271,113 shares. The company has a market capitalization of $2.43 billion, a P/E ratio of 7.64 and a beta of 1.00. InterDigital, Inc. has a 1-year low of $67.04 and a 1-year high of $102.30. The company’s 50-day moving average is $76.21 and its 200-day moving average is $84.16.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. The company had revenue of $135.78 million for the quarter, compared to the consensus estimate of $133.69 million. InterDigital had a return on equity of 44.58% and a net margin of 45.92%. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. Equities analysts anticipate that InterDigital, Inc. will post $3.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 12th were issued a $0.30 dividend. The ex-dividend date was Monday, July 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.71%. InterDigital’s dividend payout ratio (DPR) is 13.00%.
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A number of analysts recently issued reports on IDCC shares. B. Riley raised InterDigital from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $100.00 in a research report on Monday, April 24th. Sidoti raised InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday. ValuEngine downgraded InterDigital from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Zacks Investment Research raised InterDigital from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $92.50.
In other news, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $79.15, for a total value of $39,575.00. Following the transaction, the executive vice president now directly owns 79,768 shares in the company, valued at approximately $6,313,637.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James J. Nolan sold 2,294 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.30, for a total value of $163,562.20. Following the completion of the transaction, the executive vice president now owns 54,042 shares in the company, valued at $3,853,194.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,594 shares of company stock worth $270,649. Company insiders own 1.90% of the company’s stock.
InterDigital Company 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.
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