Hennion & Walsh Asset Management Inc. Has $834,000 Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Hennion & Walsh Asset Management Inc. cut its position in InterDigital, Inc. (NASDAQ:IDCC) by 29.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,836 shares of the Wireless communications provider’s stock after selling 3,221 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in InterDigital were worth $834,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position 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 valued at $268,274,000 after purchasing an additional 72,720 shares during the last quarter. Pacer Advisors Inc. grew its holdings in InterDigital by 220.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock valued at $125,014,000 after buying an additional 792,868 shares during the last quarter. Capital Management Corp VA grew its holdings in InterDigital by 12.1% in the 4th quarter. Capital Management Corp VA now owns 237,654 shares of the Wireless communications provider’s stock valued at $25,795,000 after buying an additional 25,601 shares during the last quarter. Norges Bank bought a new position in InterDigital in the 4th quarter worth approximately $18,987,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of InterDigital during the fourth quarter worth approximately $13,309,000. Institutional investors own 99.83% of the company’s stock.

InterDigital Trading Down 0.2 %

Shares of IDCC stock opened at $116.28 on Tuesday. The firm has a fifty day moving average of $110.66 and a 200-day moving average of $106.84. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.01 and a beta of 1.42. InterDigital, Inc. has a 52-week low of $74.65 and a 52-week high of $119.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.06. The firm had revenue of $263.54 million during the quarter, compared to analyst estimates of $250.15 million. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. On average, equities research analysts forecast that InterDigital, Inc. will post 6.65 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The business 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 of this dividend is Wednesday, July 10th. This represents a $1.60 annualized dividend and a yield of 1.38%. InterDigital’s dividend payout ratio is currently 23.53%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America reaffirmed an “underperform” rating and set a $100.00 target price (down previously from $140.00) on shares of InterDigital in a research report on Monday, April 1st. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $100.00 target price (down from $106.00) on shares of InterDigital in a research report on Monday, May 13th.

Insider Transactions at InterDigital

In other InterDigital news, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction 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 owns 12,202 shares of the company’s stock, valued at $1,406,646.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director John D. Jr. Markley sold 750 shares of the company’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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 2,749 shares of company stock valued at $282,883. 2.30% of the stock is owned by insiders.

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.