Federated Hermes Inc. Has $21.28 Million Holdings in InterDigital, Inc. $IDCC

Federated Hermes Inc. trimmed its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 3.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,652 shares of the Wireless communications provider’s stock after selling 2,382 shares during the period. Federated Hermes Inc. owned 0.24% of InterDigital worth $21,284,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Moran Wealth Management LLC increased its stake in shares of InterDigital by 0.6% in the third quarter. Moran Wealth Management LLC now owns 4,751 shares of the Wireless communications provider’s stock valued at $1,640,000 after buying an additional 29 shares in the last quarter. CoreCap Advisors LLC lifted its position in InterDigital by 15.6% during the 3rd quarter. CoreCap Advisors LLC now owns 245 shares of the Wireless communications provider’s stock worth $85,000 after buying an additional 33 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in InterDigital by 0.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 11,388 shares of the Wireless communications provider’s stock worth $2,554,000 after acquiring an additional 41 shares during the last quarter. Creative Planning increased its position in InterDigital by 0.3% in the 2nd quarter. Creative Planning now owns 15,345 shares of the Wireless communications provider’s stock valued at $3,441,000 after acquiring an additional 46 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its stake in shares of InterDigital by 2.9% in the third quarter. Leavell Investment Management Inc. now owns 1,897 shares of the Wireless communications provider’s stock worth $655,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

InterDigital Trading Down 1.4%

NASDAQ IDCC opened at $326.44 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 12 month low of $177.00 and a 12 month high of $412.60. The company has a market capitalization of $8.41 billion, a PE ratio of 22.03 and a beta of 1.57. The stock has a 50-day simple moving average of $333.33 and a 200 day simple moving average of $319.44.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. InterDigital had a return on equity of 51.89% and a net margin of 53.50%.The company had revenue of $164.68 million during the quarter, compared to analysts’ expectations of $153.43 million. During the same period in the prior year, the business posted $1.14 EPS. InterDigital’s revenue was up 28.0% on a year-over-year basis. Research analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, January 14th. InterDigital’s dividend payout ratio (DPR) is currently 18.89%.

Insider Activity

In related news, CFO Richard Brezski sold 6,981 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $330.49, for a total value of $2,307,150.69. Following the completion of the sale, the chief financial officer owned 83,374 shares in the company, valued at $27,554,273.26. This represents a 7.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lawrence Liren Chen sold 5,958 shares of InterDigital stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $327.62, for a total value of $1,951,959.96. Following the transaction, the chief executive officer owned 153,077 shares in the company, valued at approximately $50,151,086.74. This represents a 3.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,307 shares of company stock valued at $12,280,908 in the last quarter. Company insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on IDCC. UBS Group set a $425.00 price target on shares of InterDigital in a research note on Monday, December 1st. Jefferies Financial Group set a $475.00 price objective on InterDigital and gave the stock a “buy” rating in a report on Thursday, October 30th. Roth Mkm reiterated a “buy” rating on shares of InterDigital in a research report on Tuesday, January 20th. Weiss Ratings cut InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, December 29th. Finally, Zacks Research lowered InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, InterDigital currently has a consensus rating of “Moderate Buy” and an average target price of $416.67.

InterDigital Profile

InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.

The company’s principal services include patent licensing, technology evaluation and consulting.