Dimensional Fund Advisors LP grew its stake in InterDigital, Inc. (NASDAQ:IDCC) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,041,319 shares of the Wireless communications provider’s stock after acquiring an additional 20,284 shares during the period. Dimensional Fund Advisors LP owned about 2.99% of InterDigital worth $84,243,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of InterDigital by 79.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,740 shares of the Wireless communications provider’s stock valued at $128,000 after acquiring an additional 770 shares during the period. Sei Investments Co. raised its stake in shares of InterDigital by 3,235.1% in the 1st quarter. Sei Investments Co. now owns 1,901 shares of the Wireless communications provider’s stock valued at $140,000 after acquiring an additional 1,844 shares during the period. Element Capital Management LLC purchased a new stake in shares of InterDigital in the 1st quarter valued at approximately $202,000. Fox Run Management L.L.C. purchased a new stake in shares of InterDigital in the 2nd quarter valued at approximately $219,000. Finally, Hikari Power Ltd purchased a new stake in shares of InterDigital in the 2nd quarter valued at approximately $265,000. 74.46% of the stock is currently owned by institutional investors and hedge funds.
In other InterDigital news, EVP James J. Nolan sold 5,093 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $79.82, for a total value of $406,523.26. Following the sale, the executive vice president now directly owns 39,560 shares of the company’s stock, valued at approximately $3,157,679.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.
IDCC traded down $1.15 during trading hours on Friday, hitting $76.28. 242,630 shares of the company’s stock were exchanged, compared to its average volume of 263,404. InterDigital, Inc. has a 12-month low of $69.32 and a 12-month high of $85.85. The company has a market cap of $2.78 billion, a P/E ratio of 12.59, a PEG ratio of 3.09 and a beta of 0.98. The company has a quick ratio of 9.36, a current ratio of 9.36 and a debt-to-equity ratio of 0.28.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 2nd. The Wireless communications provider reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.08. InterDigital had a net margin of 27.99% and a return on equity of 19.85%. The company had revenue of $69.56 million for the quarter, compared to the consensus estimate of $64.39 million. During the same period in the prior year, the firm posted $1.46 EPS. The company’s quarterly revenue was down 48.8% compared to the same quarter last year. Research analysts forecast that InterDigital, Inc. will post 1.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Wednesday, October 10th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, October 9th. InterDigital’s dividend payout ratio is presently 23.10%.
A number of equities research analysts have recently issued reports on IDCC shares. BidaskClub downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Roth Capital assumed coverage on shares of InterDigital in a research note on Tuesday, June 12th. They set a “buy” rating and a $104.00 target price on the stock. National Securities assumed coverage on shares of InterDigital in a research note on Monday, July 23rd. They set a “buy” rating and a $103.00 target price on the stock. Zacks Investment Research downgraded shares of InterDigital from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, ValuEngine raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. InterDigital presently has an average rating of “Hold” and a consensus price target of $94.40.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.
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