Maryland State Retirement & Pension System Has $1.01 Million Stake in InterDigital, Inc. (NASDAQ:IDCC)

Maryland State Retirement & Pension System cut its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,342 shares of the Wireless communications provider’s stock after selling 385 shares during the period. Maryland State Retirement & Pension System’s holdings in InterDigital were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IDCC. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of InterDigital in the third quarter valued at $68,000. Parkside Financial Bank & Trust raised its stake in shares of InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after purchasing an additional 114 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of InterDigital by 12.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after purchasing an additional 143 shares in the last quarter. Larson Financial Group LLC raised its position in InterDigital by 14.7% in the 3rd quarter. Larson Financial Group LLC now owns 2,165 shares of the Wireless communications provider’s stock valued at $174,000 after buying an additional 278 shares during the last quarter. Finally, Precision Wealth Strategies LLC bought a new stake in shares of InterDigital in the 3rd quarter worth $203,000. Institutional investors own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IDCC. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America reissued an “underperform” rating and issued a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a research report on Monday, April 1st.

Insiders Place Their Bets

In other news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $103.87, for a total value of $67,515.50. Following the sale, the chief technology officer now directly owns 64,517 shares of the company’s stock, valued at $6,701,380.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the transaction, the insider now owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $103.87, for a total transaction of $67,515.50. Following the sale, the chief technology officer now owns 64,517 shares of the company’s stock, valued at $6,701,380.79. The disclosure for this sale can be found here. Insiders have sold a total of 1,999 shares of company stock worth $196,423 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.

InterDigital Stock Down 0.2 %

IDCC opened at $105.56 on Friday. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $119.86. The company’s 50-day moving average price is $101.60 and its two-hundred day moving average price is $101.34. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.85 and a beta of 1.35. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. The company had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. As a group, equities analysts expect that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

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

InterDigital 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.