Texas Permanent School Fund boosted its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,322 shares of the Wireless communications provider’s stock after buying an additional 483 shares during the period. Texas Permanent School Fund’s holdings in InterDigital were worth $1,957,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in IDCC. Tyers Asset Management LLC boosted 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 valued at $101,000 after buying an additional 32 shares during the last quarter. TrimTabs Asset Management LLC boosted 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 valued at $117,000 after buying an additional 640 shares during the last quarter. Financial Architects Inc boosted 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 valued at $108,000 after buying an additional 900 shares during the last quarter. Segantii Capital Management Ltd purchased a new stake in shares of InterDigital during the first quarter valued at $129,000. Finally, Elkfork Partners LLC boosted 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 valued at $139,000 after buying an additional 44 shares during the last quarter. 69.33% of the stock is owned by institutional investors and hedge funds.

Shares of InterDigital, Inc. (NASDAQ:IDCC) opened at 70.05 on Friday. The stock has a 50 day moving average of $76.21 and a 200 day moving average of $84.16. InterDigital, Inc. has a 52-week low of $67.04 and a 52-week high of $102.30. The stock has a market capitalization of $2.43 billion, a PE ratio of 7.64 and a beta of 1.00.

InterDigital (NASDAQ:IDCC) last issued 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 business had revenue of $135.78 million for the quarter, compared to analysts’ expectations of $133.69 million. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. The business’s revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS. Analysts forecast that InterDigital, Inc. will post $3.59 earnings per share 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 paid a dividend of $0.30 per share. 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 payout ratio is 13.00%.

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Several equities research analysts have weighed in on the stock. ValuEngine cut shares of InterDigital from a “strong-buy” rating to a “buy” rating in a research report on Friday. B. Riley reissued a “buy” rating and set a $100.00 price target on shares of InterDigital in a research report on Thursday, May 4th. Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday. Benchmark Co. assumed coverage on shares of InterDigital in a research report on Tuesday, April 25th. They set a “hold” rating for the company. Finally, Zacks Investment Research raised shares of InterDigital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 26th. One 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. The company presently has a consensus 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 that occurred on Friday, June 30th. The shares were sold at an average price of $79.15, for a total transaction of $39,575.00. Following the sale, the executive vice president now owns 79,768 shares of the company’s stock, valued at approximately $6,313,637.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James J. Nolan sold 2,294 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $71.30, for a total transaction of $163,562.20. Following the sale, the executive vice president now directly owns 54,042 shares in the company, valued at approximately $3,853,194.60. The disclosure for this sale can be found here. Insiders have sold a total of 3,594 shares of company stock worth $270,649 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

About InterDigital

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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Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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