Wellington Management Group LLP Has $8.54 Million Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Wellington Management Group LLP boosted its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 16.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,669 shares of the Wireless communications provider’s stock after acquiring an additional 10,926 shares during the period. Wellington Management Group LLP owned 0.31% of InterDigital worth $8,539,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of InterDigital by 2.2% in the third quarter. Vanguard Group Inc. now owns 3,343,395 shares of the Wireless communications provider’s stock worth $268,274,000 after purchasing an additional 72,720 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of InterDigital by 220.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after buying an additional 792,868 shares during the last quarter. Capital Management Corp VA boosted its position in shares of InterDigital by 12.1% in the fourth quarter. Capital Management Corp VA now owns 237,654 shares of the Wireless communications provider’s stock valued at $25,795,000 after acquiring an additional 25,601 shares during the period. Norges Bank acquired a new stake in shares of InterDigital in the fourth quarter worth $18,987,000. Finally, Crossmark Global Holdings Inc. bought a new position in InterDigital during the fourth quarter worth $13,309,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Stock Performance

NASDAQ IDCC opened at $116.04 on Friday. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $119.86. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.93 billion, a P/E ratio of 17.06, a PEG ratio of 1.00 and a beta of 1.40. The company’s 50-day simple moving average is $109.89 and its 200 day simple moving average is $106.70.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.06. The business 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, research analysts forecast that InterDigital, Inc. will post 6.65 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.60 annualized dividend and a yield of 1.38%. InterDigital’s dividend payout ratio is 23.53%.

Analyst Upgrades and Downgrades

IDCC has been the topic of several research analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $100.00 price target (down from $106.00) on shares of InterDigital in a research report on Monday, May 13th. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $100.00 price target (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

Insider Transactions at InterDigital

In other news, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the transaction, the director now directly owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction dated 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 owns 64,939 shares in the company, valued at approximately $6,190,634.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John D. Jr. Markley sold 750 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total transaction of $86,460.00. Following the sale, 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. Over the last 90 days, insiders sold 2,749 shares of company stock valued at $282,883. Corporate insiders own 2.30% of the company’s stock.

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.