InterDigital, Inc. (NASDAQ:IDCC) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 40.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,703 shares of the Wireless communications provider’s stock after buying an additional 1,069 shares during the quarter. PNC Financial Services Group Inc.’s holdings in InterDigital were worth $402,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its stake in shares of InterDigital by 11.6% during the 4th quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock worth $107,000 after purchasing an additional 103 shares during the period. Inceptionr LLC acquired a new position in InterDigital during the fourth quarter worth about $210,000. Meeder Asset Management Inc. purchased a new position in InterDigital in the fourth quarter valued at about $211,000. Human Investing LLC acquired a new stake in shares of InterDigital during the 4th quarter valued at approximately $217,000. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of InterDigital during the 4th quarter worth approximately $224,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IDCC shares. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Bank of America reiterated an “underperform” rating and issued a $100.00 price objective (down from $140.00) on shares of InterDigital in a research report on Monday, April 1st. Finally, Jefferies Financial Group restated a “hold” rating and set a $100.00 price objective (down from $106.00) on shares of InterDigital in a research report on Monday, May 13th.

Insider Transactions at InterDigital

In related news, 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 transaction, the director now directly owns 12,202 shares in the company, valued at $1,406,646.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the transaction, the insider now directly owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total value of $86,460.00. Following the sale, the director now directly owns 12,202 shares of the company’s stock, 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 worth $282,883 over the last quarter. 2.30% of the stock is currently owned by insiders.

InterDigital Trading Up 0.4 %

Shares of IDCC stock opened at $116.56 on Friday. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.00 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $110.29 and a 200 day moving average price of $106.77. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $119.86.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 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 the consensus estimate of $250.15 million. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. Research analysts forecast that InterDigital, Inc. will post 6.65 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The firm also recently declared 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Wednesday, July 10th. InterDigital’s dividend payout ratio 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.