InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC cut its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 20.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,885 shares of the Wireless communications provider’s stock after selling 10,888 shares during the quarter. AQR Capital Management LLC owned about 0.17% of InterDigital worth $4,876,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Public Sector Pension Investment Board raised its stake in shares of InterDigital by 5.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 55,514 shares of the Wireless communications provider’s stock valued at $6,471,000 after acquiring an additional 2,830 shares during the period. Hancock Whitney Corp increased its holdings in InterDigital by 15.8% in the 2nd quarter. Hancock Whitney Corp now owns 16,287 shares of the Wireless communications provider’s stock valued at $1,898,000 after purchasing an additional 2,226 shares in the last quarter. Pacer Advisors Inc. raised its position in InterDigital by 51,337.0% in the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock valued at $86,635,000 after purchasing an additional 741,820 shares during the period. Intech Investment Management LLC acquired a new position in shares of InterDigital during the second quarter worth about $457,000. Finally, Inspire Investing LLC boosted its position in shares of InterDigital by 19.1% in the second quarter. Inspire Investing LLC now owns 13,884 shares of the Wireless communications provider’s stock worth $1,618,000 after buying an additional 2,224 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now owns 20,279 shares in the company, valued at approximately $2,813,102.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Derek K. Aberle sold 2,005 shares of the firm’s stock in a transaction on 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 in the company, valued at $1,026,681.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the sale, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

InterDigital Stock Down 0.3 %

Shares of InterDigital stock opened at $143.38 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. InterDigital, Inc. has a 1-year low of $74.65 and a 1-year high of $145.49. The business has a 50-day moving average of $135.96 and a 200-day moving average of $118.95. The company has a market capitalization of $3.62 billion, a PE ratio of 21.09, a P/E/G ratio of 0.88 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating 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 firm had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. As a group, equities analysts forecast that InterDigital, Inc. will post 9.05 EPS for the current fiscal year.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.26%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 9th. InterDigital’s dividend payout ratio is 26.47%.

Wall Street Analyst Weigh In

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

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.