PFG Investments LLC Has $2.03 Million Stake in InterDigital, Inc. (NASDAQ:IDCC)

PFG Investments LLC reduced its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 18.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,307 shares of the Wireless communications provider’s stock after selling 3,268 shares during the quarter. PFG Investments LLC’s holdings in InterDigital were worth $2,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in InterDigital during the 3rd quarter worth approximately $26,000. 1620 Investment Advisors Inc. bought a new position in shares of InterDigital during the second quarter worth $29,000. GAMMA Investing LLC grew its holdings in shares of InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 124 shares during the period. Nisa Investment Advisors LLC raised its stake in InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 109 shares during the period. Finally, Palisade Asset Management LLC acquired a new stake in InterDigital during the 1st quarter worth $64,000. 99.83% of the stock is owned by institutional investors.

InterDigital Stock Performance

IDCC opened at $147.29 on Friday. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 0.97 and a beta of 1.39. The business’s 50-day moving average price is $141.18 and its two-hundred day moving average price is $124.35. InterDigital, Inc. has a 1 year low of $74.65 and a 1 year high of $157.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The business had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. Equities analysts expect that InterDigital, Inc. will post 9.06 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a dividend of $0.45 per share. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 1.22%. InterDigital’s dividend payout ratio is presently 18.11%.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the sale, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the transaction, the director now directly owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,205 shares of company stock valued at $716,218. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on IDCC shares. Roth Mkm increased their price target on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th.

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.