Teachers Advisors LLC increased its holdings in shares of InterDigital (NASDAQ:IDCC) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,329 shares of the Wireless communications provider’s stock after purchasing an additional 1,096 shares during the quarter. Teachers Advisors LLC’s holdings in InterDigital were worth $7,564,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Two Sigma Advisers LP increased its position in InterDigital by 65.7% during the 4th quarter. Two Sigma Advisers LP now owns 300,228 shares of the Wireless communications provider’s stock worth $22,862,000 after purchasing an additional 119,000 shares in the last quarter. Ellington Management Group LLC acquired a new stake in InterDigital during the 4th quarter worth approximately $274,000. Stone Ridge Asset Management LLC acquired a new stake in InterDigital during the 4th quarter worth approximately $579,000. Sapphire Star Partners LP acquired a new stake in InterDigital during the 4th quarter worth approximately $400,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in InterDigital during the 4th quarter worth approximately $245,000. 74.16% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. Zacks Investment Research cut InterDigital from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. BidaskClub cut InterDigital from a “sell” rating to a “strong sell” rating in a report on Thursday, January 25th. Dougherty & Co upgraded InterDigital from a “neutral” rating to a “buy” rating and set a $87.00 price target for the company in a report on Friday, February 23rd. Finally, B. Riley decreased their price target on InterDigital from $100.00 to $94.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $88.67.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, February 22nd. The Wireless communications provider reported $2.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $1.60. The firm had revenue of $205.30 million during the quarter, compared to analysts’ expectations of $191.42 million. InterDigital had a return on equity of 26.52% and a net margin of 32.70%. InterDigital’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.85 EPS. sell-side analysts forecast that InterDigital will post 1.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Monday, April 23rd will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, April 20th. InterDigital’s dividend payout ratio is presently 23.10%.
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InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.
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