InterDigital, Inc. (NASDAQ:IDCC) Holdings Raised by Federated Hermes Inc.

Federated Hermes Inc. grew its position in InterDigital, Inc. (NASDAQ:IDCC) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,925 shares of the Wireless communications provider’s stock after acquiring an additional 877 shares during the quarter. Federated Hermes Inc. owned approximately 0.29% of InterDigital worth $8,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its holdings in shares of InterDigital by 71.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,258 shares of the Wireless communications provider’s stock valued at $493,000 after acquiring an additional 1,779 shares during the last quarter. BOKF NA grew its stake in InterDigital by 78.8% during the 2nd quarter. BOKF NA now owns 5,272 shares of the Wireless communications provider’s stock worth $615,000 after buying an additional 2,323 shares during the last quarter. AdvisorShares Investments LLC grew its stake in InterDigital by 17.2% during the 2nd quarter. AdvisorShares Investments LLC now owns 4,688 shares of the Wireless communications provider’s stock worth $545,000 after buying an additional 688 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in InterDigital by 2.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 23,154 shares of the Wireless communications provider’s stock worth $2,699,000 after buying an additional 659 shares during the last quarter. Finally, Choreo LLC bought a new position in InterDigital during the 2nd quarter worth $214,000. 99.83% of the stock is currently owned by institutional investors.

InterDigital Trading Up 0.3 %

Shares of IDCC stock opened at $135.69 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. InterDigital, Inc. has a 1 year low of $74.65 and a 1 year high of $140.60. The stock has a fifty day moving average of $130.99 and a two-hundred day moving average of $115.74. The firm has a market capitalization of $3.42 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 0.84 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The company had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. As a group, research analysts expect that InterDigital, Inc. will post 9.05 EPS 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 issued a $0.45 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.33%. InterDigital’s dividend payout ratio is 26.47%.

Analyst Ratings Changes

A number of research analysts recently commented on IDCC shares. Roth Mkm upped their price objective on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, August 22nd.

Insider Activity

In other news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares in the company, valued at $1,026,681.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.30% of the company’s stock.

About InterDigital

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.