Capital Fund Management S.A. cut its stake in shares of InterDigital Inc. (NASDAQ:IDCC) by 77.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,845 shares of the company’s stock after selling 70,500 shares during the period. Capital Fund Management S.A.’s holdings in InterDigital were worth $1,161,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. LS Investment Advisors LLC raised its stake in InterDigital by 73.8% in the second quarter. LS Investment Advisors LLC now owns 2,084 shares of the company’s stock valued at $116,000 after buying an additional 885 shares during the period. Smith Asset Management Group LP raised its stake in InterDigital by 8,400.0% in the second quarter. Smith Asset Management Group LP now owns 2,125 shares of the company’s stock valued at $118,000 after buying an additional 2,100 shares during the period. Bank of Montreal Can purchased a new stake in InterDigital during the second quarter valued at approximately $189,000. Aperio Group LLC purchased a new stake in InterDigital during the first quarter valued at approximately $255,000. Finally, HL Financial Services LLC raised its stake in InterDigital by 0.6% in the second quarter. HL Financial Services LLC now owns 4,755 shares of the company’s stock valued at $265,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 69.14% of the company’s stock.
InterDigital Inc. (NASDAQ:IDCC) traded down 0.24% during midday trading on Friday, hitting $78.35. The stock had a trading volume of 397,931 shares. The firm has a market cap of $2.68 billion, a P/E ratio of 22.16 and a beta of 0.73. InterDigital Inc. has a 12-month low of $41.01 and a 12-month high of $79.97. The stock has a 50-day moving average price of $74.39 and a 200 day moving average price of $61.87.
InterDigital (NASDAQ:IDCC) last announced its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.83. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The business earned $75.90 million during the quarter, compared to the consensus estimate of $76.60 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The business’s quarterly revenue was down 36.0% compared to the same quarter last year. On average, equities analysts anticipate that InterDigital Inc. will post $5.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be given a $0.30 dividend. The ex-dividend date is Friday, October 7th. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. This is an increase from InterDigital’s previous quarterly dividend of $0.20. InterDigital’s dividend payout ratio (DPR) is presently 22.66%.
Several research firms have commented on IDCC. Barclays PLC reiterated an “equal weight” rating and set a $80.00 price objective (up from $75.00) on shares of InterDigital in a research note on Friday, September 23rd. B. Riley reiterated a “neutral” rating and set a $80.00 price objective on shares of InterDigital in a research note on Saturday, October 1st. Dougherty & Co lowered InterDigital from a “buy” rating to a “neutral” rating in a research note on Wednesday. Zacks Investment Research upgraded InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 price objective for the company in a research note on Saturday, August 6th. Finally, TheStreet upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $78.33.
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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