Harvest Fund Management Co. Ltd Raises Position in InterDigital, Inc. (NASDAQ:IDCC)

Harvest Fund Management Co. Ltd lifted its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1,119.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,121 shares of the Wireless communications provider’s stock after buying an additional 1,947 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in InterDigital were worth $226,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new stake in shares of InterDigital during the fourth quarter valued at about $9,012,000. Qube Research & Technologies Ltd increased its holdings in InterDigital by 125.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 58,915 shares of the Wireless communications provider’s stock worth $4,727,000 after purchasing an additional 32,750 shares during the last quarter. Pacer Advisors Inc. increased its holdings in 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 purchasing an additional 792,868 shares during the last quarter. Hussman Strategic Advisors Inc. raised its position in shares of InterDigital by 69.4% in the 3rd quarter. Hussman Strategic Advisors Inc. now owns 26,250 shares of the Wireless communications provider’s stock valued at $2,106,000 after purchasing an additional 10,750 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of InterDigital by 59.2% during the 4th quarter. Ritholtz Wealth Management now owns 15,020 shares of the Wireless communications provider’s stock valued at $1,630,000 after buying an additional 5,588 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the sale, the chief technology officer now owns 64,939 shares in the company, valued at $6,190,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the transaction, the chief technology officer now owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total value of $66,943.23. Following the transaction, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America reaffirmed an “underperform” rating and set a $100.00 price target (down previously from $140.00) on shares of InterDigital in a research report on Monday, April 1st.

InterDigital Stock Performance

Shares of IDCC opened at $99.66 on Thursday. The stock has a market capitalization of $2.54 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 0.81 and a beta of 1.34. The business’s fifty day moving average price is $103.50 and its 200 day moving average price is $99.76. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33. InterDigital, Inc. has a 12-month low of $66.82 and a 12-month high of $119.86.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data 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. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. The firm had revenue of $105.52 million for the quarter, compared to analyst estimates of $104.31 million. Equities research analysts forecast that InterDigital, Inc. will post 7.02 EPS for the current year.

InterDigital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is 21.33%.

About InterDigital

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.