Empirical Finance LLC Has $1.96 Million Stake in InterDigital, Inc. (IDCC)

Empirical Finance LLC grew its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 0.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,336 shares of the Wireless communications provider’s stock after purchasing an additional 9 shares during the quarter. InterDigital makes up approximately 0.8% of Empirical Finance LLC’s portfolio, making the stock its 23rd biggest position. Empirical Finance LLC owned 0.07% of InterDigital worth $1,959,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of InterDigital by 3.3% during the first quarter. Vanguard Group Inc. now owns 2,825,391 shares of the Wireless communications provider’s stock valued at $243,831,000 after acquiring an additional 89,997 shares in the last quarter. State Street Corp raised its holdings in shares of InterDigital by 2.0% during the first quarter. State Street Corp now owns 1,108,236 shares of the Wireless communications provider’s stock valued at $95,642,000 after acquiring an additional 21,278 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of InterDigital by 17.7% during the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock valued at $56,834,000 after acquiring an additional 99,018 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of InterDigital by 5.1% during the first quarter. Geode Capital Management LLC now owns 392,469 shares of the Wireless communications provider’s stock valued at $33,870,000 after acquiring an additional 19,139 shares in the last quarter. Finally, Gotham Asset Management LLC raised its holdings in shares of InterDigital by 29.7% during the first quarter. Gotham Asset Management LLC now owns 371,155 shares of the Wireless communications provider’s stock valued at $32,031,000 after acquiring an additional 84,884 shares in the last quarter. 70.97% of the stock is owned by hedge funds and other institutional investors.

Shares of InterDigital, Inc. (IDCC) traded up 0.22% during trading on Tuesday, hitting $69.90. The stock had a trading volume of 41,050 shares. The company has a market cap of $2.43 billion, a P/E ratio of 7.62 and a beta of 0.95. InterDigital, Inc. has a 12 month low of $67.55 and a 12 month high of $102.30. The stock has a 50-day moving average price of $71.59 and a 200 day moving average price of $80.37.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.05. InterDigital had a return on equity of 44.58% and a net margin of 45.92%. The company had revenue of $135.78 million for the quarter, compared to analyst estimates of $133.69 million. During the same period in the prior year, the company posted $1.14 EPS. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. Equities analysts expect that InterDigital, Inc. will post $3.61 EPS for the current fiscal year.

A number of equities analysts recently commented on the company. B. Riley restated a “buy” rating and set a $100.00 target price on shares of InterDigital in a report on Monday, August 28th. Zacks Investment Research upgraded InterDigital from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Friday, August 18th. ValuEngine downgraded InterDigital from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, BidaskClub downgraded InterDigital from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $87.75.

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In related news, EVP James J. Nolan sold 2,294 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.30, for a total transaction of $163,562.20. Following the transaction, the executive vice president now directly owns 54,042 shares of the company’s stock, valued at approximately $3,853,194.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $79.15, for a total value of $39,575.00. Following the transaction, the executive vice president now directly owns 79,768 shares in the company, valued at $6,313,637.20. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

About InterDigital

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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Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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