New Amsterdam Partners LLC NY lessened its stake in InterDigital, Inc. (NASDAQ:IDCC) by 16.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,459 shares of the Wireless communications provider’s stock after selling 8,476 shares during the period. New Amsterdam Partners LLC NY owned approximately 0.12% of InterDigital worth $3,477,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in InterDigital by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,041,319 shares of the Wireless communications provider’s stock worth $84,243,000 after buying an additional 20,284 shares in the last quarter. Northern Trust Corp boosted its stake in shares of InterDigital by 2.5% in the 2nd quarter. Northern Trust Corp now owns 649,460 shares of the Wireless communications provider’s stock valued at $52,541,000 after purchasing an additional 15,994 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of InterDigital in the 2nd quarter valued at $23,853,000. Schwab Charles Investment Management Inc. boosted its stake in shares of InterDigital by 11.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 265,711 shares of the Wireless communications provider’s stock valued at $21,497,000 after purchasing an additional 26,580 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its stake in shares of InterDigital by 6.9% in the 2nd quarter. Nomura Holdings Inc. now owns 211,722 shares of the Wireless communications provider’s stock valued at $17,128,000 after purchasing an additional 13,747 shares in the last quarter. 74.13% of the stock is owned by institutional investors and hedge funds.
In related news, EVP James J. Nolan sold 5,093 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $79.82, for a total transaction of $406,523.26. Following the completion of the sale, the executive vice president now directly owns 39,560 shares in the company, valued at approximately $3,157,679.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.
Shares of InterDigital stock opened at $77.51 on Thursday. InterDigital, Inc. has a 52-week low of $68.22 and a 52-week high of $85.85. The firm has a market capitalization of $2.61 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 2.52 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.06 and a quick ratio of 4.06.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, November 1st. The Wireless communications provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.36. InterDigital had a net margin of 26.19% and a return on equity of 17.50%. The company had revenue of $75.08 million during the quarter, compared to analysts’ expectations of $72.59 million. During the same quarter in the prior year, the company earned $1.00 EPS. The firm’s revenue was down 22.9% on a year-over-year basis. As a group, equities research analysts forecast that InterDigital, Inc. will post 2.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Investors of record on Wednesday, October 10th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, October 9th. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. InterDigital’s dividend payout ratio is currently 23.10%.
A number of equities research analysts have recently issued reports on the stock. TheStreet cut shares of InterDigital from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. ValuEngine cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Zacks Investment Research cut shares of InterDigital from a “hold” rating to a “strong sell” rating in a research note on Monday, August 6th. National Securities assumed coverage on shares of InterDigital in a research note on Monday, July 23rd. They issued a “buy” rating and a $103.00 price objective for the company. Finally, BidaskClub cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $94.40.
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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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