One Capital Management LLC grew its holdings in InterDigital, Inc. (NASDAQ:IDCC – Free Report) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,015 shares of the Wireless communications provider’s stock after purchasing an additional 2,324 shares during the period. One Capital Management LLC’s holdings in InterDigital were worth $2,552,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Leonteq Securities AG acquired a new stake in shares of InterDigital in the fourth quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd raised its holdings in shares of InterDigital by 186.8% in the third quarter. Aster Capital Management DIFC Ltd now owns 109 shares of the Wireless communications provider’s stock valued at $38,000 after purchasing an additional 71 shares during the last quarter. Financial Consulate Inc. acquired a new stake in shares of InterDigital in the fourth quarter valued at approximately $41,000. Hantz Financial Services Inc. increased its holdings in InterDigital by 219.0% during the fourth quarter. Hantz Financial Services Inc. now owns 134 shares of the Wireless communications provider’s stock worth $43,000 after buying an additional 92 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in InterDigital by 47.9% during the second quarter. Headlands Technologies LLC now owns 250 shares of the Wireless communications provider’s stock worth $56,000 after buying an additional 81 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.
InterDigital Stock Performance
Shares of IDCC stock opened at $259.00 on Wednesday. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 24.39 and a beta of 1.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.88 and a current ratio of 1.88. The company has a 50-day simple moving average of $308.28 and a 200 day simple moving average of $331.16. InterDigital, Inc. has a 52 week low of $213.06 and a 52 week high of $412.60.
InterDigital Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, April 8th. This represents a $2.80 annualized dividend and a yield of 1.1%. InterDigital’s dividend payout ratio (DPR) is 26.37%.
Insider Activity at InterDigital
In other InterDigital news, CTO Rajesh Pankaj sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $313.30, for a total transaction of $469,950.00. Following the completion of the sale, the chief technology officer directly owned 72,449 shares in the company, valued at $22,698,271.70. This trade represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joshua D. Schmidt sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $348.21, for a total transaction of $2,089,260.00. Following the sale, the insider owned 25,889 shares of the company’s stock, valued at $9,014,808.69. This trade represents a 18.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,500 shares of company stock valued at $2,927,310 over the last 90 days. Company insiders own 2.30% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on IDCC. Wall Street Zen upgraded shares of InterDigital from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Jefferies Financial Group restated a “buy” rating on shares of InterDigital in a report on Wednesday, March 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of InterDigital in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $416.67.
Read Our Latest Research Report on IDCC
About InterDigital
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.
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