Texas Permanent School Fund Corp Raises Stake in InterDigital, Inc. (NASDAQ:IDCC)

Texas Permanent School Fund Corp lifted its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 2.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 23,154 shares of the Wireless communications provider’s stock after buying an additional 659 shares during the period. Texas Permanent School Fund Corp owned 0.09% of InterDigital worth $2,699,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of InterDigital by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock valued at $344,370,000 after acquiring an additional 17,238 shares during the last quarter. Norges Bank purchased a new position in InterDigital during the fourth quarter worth approximately $18,987,000. Principal Financial Group Inc. boosted its holdings in shares of InterDigital by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 151,173 shares of the Wireless communications provider’s stock valued at $16,094,000 after purchasing an additional 1,758 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of InterDigital during the 4th quarter valued at $13,309,000. Finally, Emerald Advisers LLC increased its holdings in shares of InterDigital by 127,997.9% during the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after buying an additional 120,318 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Roth Mkm increased their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, August 22nd.

InterDigital Stock Down 0.5 %

Shares of InterDigital stock opened at $135.30 on Tuesday. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 0.84 and a beta of 1.39. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $140.60. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $130.99 and its 200-day simple moving average is $115.74.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The business had revenue of $223.49 million during the quarter, compared to the consensus estimate of $95.63 million. Equities research analysts forecast that InterDigital, Inc. will post 9.05 earnings per share for the current year.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Wednesday, October 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s payout ratio is currently 26.47%.

Insider Activity

In related news, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the transaction, the director now directly owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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.