InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in InterDigital, Inc. (NASDAQ:IDCC) by 32.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,913 shares of the Wireless communications provider’s stock after selling 8,097 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of InterDigital worth $1,971,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. AdvisorShares Investments LLC raised its position in shares of InterDigital by 17.2% in the second quarter. AdvisorShares Investments LLC now owns 4,688 shares of the Wireless communications provider’s stock worth $545,000 after acquiring an additional 688 shares during the period. Texas Permanent School Fund Corp raised its position in shares of InterDigital by 2.9% in the second quarter. Texas Permanent School Fund Corp now owns 23,154 shares of the Wireless communications provider’s stock worth $2,699,000 after acquiring an additional 659 shares during the period. Choreo LLC acquired a new position in shares of InterDigital in the second quarter worth about $214,000. PFG Investments LLC raised its position in shares of InterDigital by 4.9% in the second quarter. PFG Investments LLC now owns 17,575 shares of the Wireless communications provider’s stock worth $2,048,000 after acquiring an additional 820 shares during the period. Finally, Quest Partners LLC raised its position in shares of InterDigital by 326.2% in the second quarter. Quest Partners LLC now owns 19,470 shares of the Wireless communications provider’s stock worth $2,269,000 after acquiring an additional 14,902 shares during the period. Institutional investors and hedge funds own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

IDCC has been the subject of a number of analyst reports. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd. Roth Mkm upped their price target 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.

InterDigital Stock Up 0.5 %

IDCC opened at $138.55 on Friday. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $140.86. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $132.20 and a 200 day moving average price of $116.52. The company has a market cap of $3.50 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 0.84 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results 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. The firm had revenue of $223.49 million during the quarter, compared to the consensus estimate of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. Sell-side analysts expect that InterDigital, Inc. will post 9.05 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The firm also recently disclosed 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 is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.30%. InterDigital’s dividend payout ratio is presently 26.47%.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

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.