InterDigital, Inc. (NASDAQ:IDCC) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,128 shares of the Wireless communications provider’s stock after purchasing an additional 612 shares during the quarter. Los Angeles Capital Management LLC owned 0.13% of InterDigital worth $3,633,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its position in shares of InterDigital by 11.6% during the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock worth $107,000 after buying an additional 103 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in InterDigital by 12.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after acquiring an additional 114 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of InterDigital by 12.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after purchasing an additional 143 shares during the last quarter. Inceptionr LLC acquired a new stake in shares of InterDigital in the 4th quarter valued at $210,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of InterDigital during the 4th quarter worth $211,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Insider Activity

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the transaction, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the sale, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the transaction, the director now directly owns 12,202 shares in the company, valued at approximately $1,406,646.56. The disclosure for this sale can be found here. Insiders have sold 2,749 shares of company stock valued at $282,883 in the last ninety days. 2.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on IDCC. Bank of America restated an “underperform” rating and issued a $100.00 price target (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st. Jefferies Financial Group reissued a “hold” rating and set a $100.00 target price (down previously from $106.00) on shares of InterDigital in a research report on Monday, May 13th. Finally, StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th.

InterDigital Stock Performance

NASDAQ IDCC opened at $116.44 on Friday. The company has a fifty day moving average of $107.90 and a two-hundred day moving average of $106.29. The company has a market capitalization of $2.94 billion, a PE ratio of 17.12, a P/E/G ratio of 0.99 and a beta of 1.40. InterDigital, Inc. has a 1 year low of $74.65 and a 1 year high of $119.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.06. The firm had revenue of $263.54 million during the quarter, compared to analysts’ expectations of $250.15 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. As a group, analysts expect that InterDigital, Inc. will post 6.79 earnings per share for the current year.

InterDigital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.37%. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.