InterDigital, Inc. (NASDAQ:IDCC) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 71.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,258 shares of the Wireless communications provider’s stock after acquiring an additional 1,779 shares during the period. DekaBank Deutsche Girozentrale’s holdings in InterDigital were worth $493,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. acquired a new stake in shares of InterDigital in the 4th quarter worth approximately $224,000. Quadrant Capital Group LLC lifted its position in InterDigital by 11.6% in the fourth 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. Norges Bank bought a new position in InterDigital during the 4th quarter valued at $18,987,000. PNC Financial Services Group Inc. increased its position in shares of InterDigital by 40.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,703 shares of the Wireless communications provider’s stock valued at $402,000 after purchasing an additional 1,069 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of InterDigital in the 4th quarter worth $1,779,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on IDCC shares. Roth Mkm raised their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd.

Insider Transactions at InterDigital

In related news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 approximately $1,026,681.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by insiders.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $138.55 on Friday. The company has a market capitalization of $3.50 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 0.84 and a beta of 1.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a fifty day moving average of $131.85 and a 200-day moving average of $116.22. InterDigital, Inc. has a one year low of $74.65 and a one year high of $140.86.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, beating the consensus estimate of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The business had revenue of $223.49 million during the quarter, compared to the consensus estimate of $95.63 million. As a group, equities analysts anticipate that InterDigital, Inc. will post 9.05 EPS for the current fiscal year.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.30%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is presently 26.47%.

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.