UBS Asset Management Americas Inc. lowered its position in InterDigital Inc. (NASDAQ:IDCC) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,738 shares of the company’s stock after selling 149 shares during the period. UBS Asset Management Americas Inc. owned about 0.06% of InterDigital worth $1,211,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in IDCC. State Street Corp raised its stake in shares of InterDigital by 0.7% in the first quarter. State Street Corp now owns 1,090,975 shares of the company’s stock worth $60,710,000 after buying an additional 7,093 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of InterDigital by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,034,062 shares of the company’s stock worth $57,546,000 after buying an additional 13,188 shares during the period. Ulysses Management LLC raised its stake in shares of InterDigital by 4.2% in the first quarter. Ulysses Management LLC now owns 495,000 shares of the company’s stock worth $27,547,000 after buying an additional 20,000 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of InterDigital by 208.0% in the second quarter. BNP Paribas Arbitrage SA now owns 271,756 shares of the company’s stock worth $15,131,000 after buying an additional 183,532 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of InterDigital by 48.0% in the first quarter. Renaissance Technologies LLC now owns 223,693 shares of the company’s stock worth $12,449,000 after buying an additional 72,500 shares during the period. 69.14% of the stock is currently owned by institutional investors.
InterDigital Inc. (NASDAQ:IDCC) traded down 0.61% on Friday, reaching $76.86. The company had a trading volume of 294,557 shares. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 21.74 and a beta of 0.73. The firm has a 50 day moving average price of $75.60 and a 200-day moving average price of $62.67. InterDigital Inc. has a 12 month low of $41.01 and a 12 month high of $79.97.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.83. The firm had revenue of $75.90 million for the quarter, compared to analyst estimates of $76.60 million. InterDigital had a return on equity of 20.08% and a net margin of 31.71%. The business’s quarterly revenue was down 36.0% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. Analysts forecast 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. Shareholders of record on Wednesday, October 12th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.56%. This is a positive change from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, October 7th. InterDigital’s dividend payout ratio (DPR) is presently 33.99%.
A number of equities research analysts have recently issued reports on IDCC shares. B. Riley reaffirmed a “neutral” rating and set a $80.00 target price on shares of InterDigital in a research report on Saturday, October 1st. Zacks Investment Research raised InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 price target on the stock in a research report on Saturday, August 6th. Dougherty & Co lowered InterDigital from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 5th. Finally, Barclays PLC reissued an “equal weight” rating and set a $80.00 price target (up from $75.00) on shares of InterDigital in a research report on Friday, September 23rd. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. InterDigital has a consensus rating of “Buy” and a consensus price target of $78.33.
In other InterDigital news, insider William J. Merritt sold 5,000 shares of the stock in a transaction on Monday, October 10th. The stock was sold at an average price of $78.35, for a total value of $391,750.00. Following the transaction, the insider now directly owns 136,072 shares in the company, valued at approximately $10,661,241.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert S. Roath sold 6,901 shares of the stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $77.34, for a total value of $533,723.34. Following the completion of the transaction, the director now owns 15,967 shares in the company, valued at $1,234,887.78. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
InterDigital Company Profile
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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