Parametric Portfolio Associates LLC Has $5.73 Million Holdings in InterDigital, Inc. (IDCC)
Parametric Portfolio Associates LLC lowered its stake in InterDigital, Inc. (NASDAQ:IDCC) by 15.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,095 shares of the Wireless communications provider’s stock after selling 13,665 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.21% of InterDigital worth $5,728,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of IDCC. Schroder Investment Management Group boosted its stake in InterDigital by 1,149.0% in the 2nd quarter. Schroder Investment Management Group now owns 152,815 shares of the Wireless communications provider’s stock worth $12,103,000 after purchasing an additional 140,580 shares during the period. Vanguard Group Inc. boosted its stake in InterDigital by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 2,825,391 shares of the Wireless communications provider’s stock worth $243,831,000 after purchasing an additional 89,997 shares during the period. Strid Group LLC bought a new position in InterDigital in the 2nd quarter worth about $4,514,000. Meritage Portfolio Management bought a new position in InterDigital in the 2nd quarter worth about $4,426,000. Finally, Hussman Strategic Advisors Inc. bought a new position in InterDigital in the 2nd quarter worth about $3,865,000. Institutional investors and hedge funds own 71.01% of the company’s stock.
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In other 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 value of $163,562.20. Following the completion of the transaction, the executive vice president now owns 54,042 shares of the company’s stock, valued at $3,853,194.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $75.00, for a total value of $37,500.00. Following the completion of the transaction, the executive vice president now directly owns 79,319 shares of the company’s stock, valued at approximately $5,948,925. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Shares of InterDigital, Inc. (NASDAQ:IDCC) opened at 75.15 on Friday. The company has a market cap of $2.61 billion, a P/E ratio of 8.19 and a beta of 0.93. The stock’s 50 day moving average price is $73.23 and its 200-day moving average price is $78.05. InterDigital, Inc. has a 12 month low of $67.55 and a 12 month high of $102.30.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. The firm had revenue of $135.78 million during the quarter, compared to analyst estimates of $133.69 million. InterDigital had a return on equity of 44.58% and a net margin of 45.92%. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. Equities research analysts expect that InterDigital, Inc. will post $3.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be paid a $0.35 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, October 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.86%. InterDigital’s dividend payout ratio is 15.17%.
InterDigital declared that its board has authorized a share repurchase program on Thursday, September 14th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the Wireless communications provider to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Several research analysts have commented on IDCC shares. B. Riley restated a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research note on Monday, August 28th. Zacks Investment Research upgraded 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, August 18th. ValuEngine downgraded InterDigital from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, BidaskClub downgraded 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, two have assigned 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.
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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