Permit Capital LLC Has $6,425,000 Holdings in InterDigital, Inc. (IDCC)
Permit Capital LLC maintained its position in shares of InterDigital, Inc. (NASDAQ:IDCC) during the second quarter, according to the company in its most recent filing with the SEC. The firm owned 83,116 shares of the Wireless communications provider’s stock at the close of the second quarter. InterDigital accounts for 3.8% of Permit Capital LLC’s portfolio, making the stock its 6th biggest position. Permit Capital LLC owned 0.24% of InterDigital worth $6,425,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of IDCC. Financial Architects Inc increased its holdings in shares of InterDigital by 180.0% during the 2nd quarter. Financial Architects Inc now owns 1,400 shares of the Wireless communications provider’s stock worth $108,000 after purchasing an additional 900 shares during the period. Riverhead Capital Management LLC increased its holdings in shares of InterDigital by 74.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,397 shares of the Wireless communications provider’s stock worth $108,000 after purchasing an additional 597 shares during the period. Victory Capital Management Inc. increased its holdings in shares of InterDigital by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,616 shares of the Wireless communications provider’s stock worth $125,000 after purchasing an additional 241 shares during the period. Segantii Capital Management Ltd bought a new position in shares of InterDigital during the 1st quarter worth about $129,000. Finally, Advisor Group Inc. increased its holdings in shares of InterDigital by 29.5% during the 2nd quarter. Advisor Group Inc. now owns 2,342 shares of the Wireless communications provider’s stock worth $181,000 after purchasing an additional 534 shares during the period. Institutional investors own 70.97% of the company’s stock.
Several research analysts have recently issued reports on IDCC shares. B. Riley restated a “buy” rating and set a $100.00 price objective on shares of InterDigital in a report on Thursday, June 8th. BidaskClub downgraded shares of InterDigital from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Sidoti upgraded shares of InterDigital from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. ValuEngine downgraded shares of InterDigital from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Finally, Zacks Investment Research upgraded shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. InterDigital currently has a consensus rating of “Hold” and a consensus target price of $87.75.
In other InterDigital news, EVP James J. Nolan sold 2,294 shares of InterDigital stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $71.30, for a total value of $163,562.20. Following the completion of the sale, the executive vice president now owns 54,042 shares in the company, valued at approximately $3,853,194.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.
InterDigital, Inc. (IDCC) traded down 1.60% during mid-day trading on Friday, reaching $73.75. 235,147 shares of the company were exchanged. InterDigital, Inc. has a 12-month low of $67.55 and a 12-month high of $102.30. The company’s 50 day moving average price is $70.76 and its 200-day moving average price is $79.73. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 8.04 and a beta of 0.95.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.05. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. The business had revenue of $135.78 million during the quarter, compared to analysts’ expectations of $133.69 million. During the same quarter in the previous year, the company earned $1.14 EPS. The business’s revenue was up 78.8% on a year-over-year basis. On average, equities research analysts forecast that InterDigital, Inc. will post $3.61 earnings per share for the current fiscal year.
InterDigital announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 14th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the Wireless communications provider to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be paid a $0.35 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, October 10th. This represents a $1.40 annualized dividend and a yield of 1.90%. InterDigital’s payout ratio is 13.00%.
TRADEMARK VIOLATION WARNING: “Permit Capital LLC Has $6,425,000 Holdings in InterDigital, Inc. (IDCC)” was reported by Watch List News and is owned by of Watch List News. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.watchlistnews.com/permit-capital-llc-has-6425000-holdings-in-interdigital-inc-idcc/1601381.html.
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.
Want to see what other hedge funds are holding IDCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterDigital, Inc. (NASDAQ:IDCC).
Receive News & Ratings for InterDigital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.