Leuthold Group LLC Purchases Shares of 3,515 InterDigital, Inc. (NASDAQ:IDCC)

Leuthold Group LLC bought a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,515 shares of the Wireless communications provider’s stock, valued at approximately $382,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDCC. Pacer Advisors Inc. grew its holdings in shares of InterDigital by 220.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after acquiring an additional 792,868 shares during the period. International Assets Investment Management LLC purchased a new stake in InterDigital in the fourth quarter worth $9,012,000. Vanguard Group Inc. raised its holdings in InterDigital by 2.2% in the third quarter. Vanguard Group Inc. now owns 3,343,395 shares of the Wireless communications provider’s stock worth $268,274,000 after purchasing an additional 72,720 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in InterDigital by 125.2% during the third quarter. Qube Research & Technologies Ltd now owns 58,915 shares of the Wireless communications provider’s stock valued at $4,727,000 after buying an additional 32,750 shares during the period. Finally, Capital Management Corp VA boosted its holdings in shares of InterDigital by 12.1% during the 4th quarter. Capital Management Corp VA now owns 237,654 shares of the Wireless communications provider’s stock valued at $25,795,000 after buying an additional 25,601 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

InterDigital Price Performance

Shares of IDCC stock traded up $1.66 during mid-day trading on Monday, hitting $105.30. The company had a trading volume of 559,256 shares, compared to its average volume of 501,887. The company has a market capitalization of $2.66 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.85 and a beta of 1.35. The stock’s 50 day moving average price is $101.75 and its 200-day moving average price is $100.89. InterDigital, Inc. has a 52-week low of $74.65 and a 52-week high of $119.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. Equities research analysts forecast that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.52%. InterDigital’s dividend payout ratio is currently 23.53%.

Insider Activity at InterDigital

In related news, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the transaction, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the sale, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the sale, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on IDCC shares. Bank of America reiterated an “underperform” rating and issued a $100.00 price target (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Monday, April 29th.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.