Great West Life Assurance Co. Can increased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 37,087 shares of the Wireless communications provider’s stock after buying an additional 405 shares during the period. Great West Life Assurance Co. Can owned approximately 0.11% of InterDigital worth $2,861,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its stake in InterDigital by 77.3% in the second quarter. Janney Montgomery Scott LLC now owns 5,182 shares of the Wireless communications provider’s stock valued at $401,000 after buying an additional 2,259 shares during the last quarter. Strs Ohio raised its stake in InterDigital by 2.4% in the second quarter. Strs Ohio now owns 17,100 shares of the Wireless communications provider’s stock valued at $1,321,000 after buying an additional 400 shares during the last quarter. Parkwood LLC acquired a new stake in InterDigital during the second quarter valued at approximately $217,000. Personal Capital Advisors Corp acquired a new stake in InterDigital during the second quarter valued at approximately $2,779,000. Finally, Meritage Portfolio Management acquired a new stake in InterDigital during the second quarter valued at approximately $4,426,000. Institutional investors and hedge funds own 68.49% of the company’s stock.
Shares of InterDigital, Inc. (NASDAQ IDCC) opened at 68.90 on Monday. InterDigital, Inc. has a 52-week low of $67.05 and a 52-week high of $102.30. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 7.51 and a beta of 1.00. The stock’s 50 day moving average is $74.74 and its 200 day moving average is $83.35.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $135.78 million during the quarter, compared to analysts’ expectations of $133.69 million. InterDigital had a return on equity of 44.58% and a net margin of 45.92%. InterDigital’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period last year, the business earned $1.14 earnings per share. On average, equities analysts predict that InterDigital, Inc. will post $3.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, July 10th. InterDigital’s dividend payout ratio is currently 13.00%.
Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Friday. ValuEngine lowered shares of InterDigital from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Sidoti raised shares of InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. B. Riley reaffirmed a “buy” rating and set a $100.00 price target on shares of InterDigital in a research report on Saturday, July 29th. Finally, BidaskClub lowered shares of InterDigital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $87.75.
In related news, EVP James J. Nolan sold 2,294 shares of InterDigital stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $71.30, for a total transaction of $163,562.20. Following the completion of the transaction, the executive vice president now directly owns 54,042 shares in the company, valued at $3,853,194.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey K. Belk sold 800 shares of InterDigital stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $84.39, for a total value of $67,512.00. Following the transaction, the director now owns 17,801 shares of the company’s stock, valued at $1,502,226.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,594 shares of company stock valued at $270,649. 1.90% of the stock is owned by company insiders.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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