InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 52.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,600 shares of the Wireless communications provider’s stock after selling 66,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.24% of InterDigital worth $7,064,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Miller Howard Investments Inc. NY grew its stake in InterDigital by 2.0% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock valued at $536,000 after purchasing an additional 90 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of InterDigital by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 109 shares during the period. GAMMA Investing LLC boosted its position in InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 124 shares during the last quarter. Juncture Wealth Strategies LLC increased its holdings in InterDigital by 1.4% in the 2nd quarter. Juncture Wealth Strategies LLC now owns 9,943 shares of the Wireless communications provider’s stock worth $1,159,000 after buying an additional 134 shares during the period. Finally, Burney Co. increased its holdings in InterDigital by 7.2% in the 2nd quarter. Burney Co. now owns 2,102 shares of the Wireless communications provider’s stock worth $245,000 after buying an additional 141 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at InterDigital

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction that occurred 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 owns 7,639 shares in the company, valued at $1,026,681.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

InterDigital Trading Up 0.5 %

Shares of NASDAQ:IDCC opened at $138.55 on Friday. The company has a market capitalization of $3.50 billion, a PE ratio of 20.38, a PEG ratio of 0.84 and a beta of 1.39. InterDigital, Inc. has a 12-month low of $74.65 and a 12-month high of $140.86. The business has a 50 day moving average of $132.20 and a two-hundred day moving average of $116.52. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03.

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

InterDigital Increases Dividend

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

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.