Vise Technologies Inc. Buys 3,547 Shares of InterDigital, Inc. $IDCC

Vise Technologies Inc. boosted its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 152.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,874 shares of the Wireless communications provider’s stock after buying an additional 3,547 shares during the quarter. Vise Technologies Inc.’s holdings in InterDigital were worth $1,915,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of IDCC. Keating Financial Advisory Services Inc. purchased a new stake in InterDigital in the 2nd quarter worth about $25,000. Anchor Investment Management LLC bought a new stake in shares of InterDigital during the first quarter valued at approximately $30,000. Polaris Financial Partners purchased a new stake in shares of InterDigital in the 3rd quarter worth $33,000. Root Financial Partners LLC bought a new position in InterDigital during the 3rd quarter worth about $39,000. Finally, Allworth Financial LP purchased a new position in InterDigital during the second quarter valued at approximately $95,000. Institutional investors own 99.83% of the company’s stock.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 1,500 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $334.32, for a total transaction of $501,480.00. Following the sale, the chief technology officer owned 63,516 shares in the company, valued at $21,234,669.12. This represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.50% of the stock is owned by insiders.

InterDigital Price Performance

Shares of IDCC opened at $286.53 on Friday. The firm has a 50-day simple moving average of $328.73 and a two-hundred day simple moving average of $318.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.90 and a quick ratio of 1.90. InterDigital, Inc. has a 1-year low of $249.14 and a 1-year high of $387.30. The stock has a market cap of $7.38 billion, a PE ratio of 31.56 and a beta of 1.50.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, October 29th. The Wireless communications provider reported $3.11 EPS for the quarter, topping the consensus estimate of $1.34 by $1.77. The business had revenue of $193.43 million during the quarter, compared to analyst estimates of $152.97 million. InterDigital had a return on equity of 28.34% and a net margin of 38.53%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business posted $1.93 earnings per share. As a group, analysts forecast that InterDigital, Inc. will post 10.44 EPS for the current year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Wednesday, October 14th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.0%. This is a boost from InterDigital’s previous quarterly dividend of $0.70. The ex-dividend date was Wednesday, October 14th. InterDigital’s dividend payout ratio (DPR) is 33.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Weiss Ratings downgraded shares of InterDigital from a “buy (b)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Zacks Research downgraded InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $425.00.

About InterDigital

InterDigital, Inc is a technology research and development company that creates advanced wireless, video and related connectivity technologies. Its work supports communications across cellular networks, including 4G and 5G, as well as Wi-Fi, the Internet of Things and other connected devices.

The company’s primary business is developing intellectual property and licensing its patented technologies to manufacturers and other industry participants. Its portfolio includes innovations related to wireless communications, radio access networks, signal processing, video compression and delivery, and connected-device functionality.