Inspire Investing LLC Grows Stake in InterDigital, Inc. (NASDAQ:IDCC)

Inspire Investing LLC grew its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 19.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,884 shares of the Wireless communications provider’s stock after acquiring an additional 2,224 shares during the period. Inspire Investing LLC owned about 0.06% of InterDigital worth $1,618,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IDCC. 1620 Investment Advisors Inc. bought a new position in InterDigital during the second quarter valued at $29,000. Riverview Trust Co bought a new position in shares of InterDigital during the 1st quarter worth $31,000. GAMMA Investing LLC increased its holdings in InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after acquiring an additional 124 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 109 shares during the period. Finally, Palisade Asset Management LLC purchased a new stake in InterDigital during the first quarter valued at about $64,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Insider Buying and Selling

In related news, Director Derek K. Aberle sold 2,005 shares of the business’s 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 completion of the transaction, the director now directly owns 7,639 shares in the company, valued at $1,026,681.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.30% of the stock is currently owned by company insiders.

InterDigital Stock Up 2.0 %

IDCC stock opened at $137.83 on Friday. The stock has a 50-day simple moving average of $131.54 and a two-hundred day simple moving average of $116.07. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $140.60. The firm has a market capitalization of $3.48 billion, a PE ratio of 20.27, a PEG ratio of 0.84 and a beta of 1.39. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $3.77. The company had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. On average, equities analysts predict that InterDigital, Inc. will post 9.05 EPS for the current fiscal year.

InterDigital Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.31%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is presently 26.47%.

Wall Street Analyst Weigh In

IDCC has been the topic of several research reports. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd. Roth Mkm boosted their target price on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

InterDigital 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.