LCM Capital Management Inc Buys Shares of 1,000 InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• LCM Capital Management Inc acquired 1,000 shares of InterDigital, Inc. during the first quarter, valued at approximately $207,000.
• InterDigital recently reported a significant earnings beat, with $6.52 earnings per share compared to analysts' expectations of $2.77, and revenues reaching $300.60 million, a 34.5% year-over-year increase.
• The company declared a quarterly dividend of $0.60 per share, equating to an annualized dividend of $2.40 and a yield of 0.9%.

LCM Capital Management Inc purchased a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,000 shares of the Wireless communications provider's stock, valued at approximately $207,000.

Several other hedge funds have also added to or reduced their stakes in IDCC. GAMMA Investing LLC boosted its position in shares of InterDigital by 31,724.6% in the first quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock valued at $619,810,000 after acquiring an additional 298,846 shares during the period. Price T Rowe Associates Inc. MD raised its stake in InterDigital by 1,451.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider's stock worth $57,986,000 after purchasing an additional 280,030 shares in the last quarter. Millennium Management LLC boosted its holdings in InterDigital by 3,962.5% in the 4th quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider's stock valued at $24,947,000 after purchasing an additional 125,610 shares during the period. Bessemer Group Inc. boosted its holdings in InterDigital by 152,729.3% in the 1st quarter. Bessemer Group Inc. now owns 114,622 shares of the Wireless communications provider's stock valued at $23,700,000 after purchasing an additional 114,547 shares during the period. Finally, Norges Bank acquired a new position in shares of InterDigital during the 4th quarter worth approximately $17,387,000. Institutional investors and hedge funds own 99.83% of the company's stock.

InterDigital Stock Performance

Shares of IDCC traded down $1.77 during mid-day trading on Friday, hitting $264.21. 178,637 shares of the company's stock were exchanged, compared to its average volume of 300,463. InterDigital, Inc. has a 52 week low of $129.76 and a 52 week high of $277.95. The stock's 50-day simple moving average is $231.18 and its 200-day simple moving average is $214.28. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.37. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, topping the consensus estimate of $2.77 by $3.75. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The company had revenue of $300.60 million for the quarter, compared to analysts' expectations of $167.93 million. During the same period last year, the firm earned $4.57 earnings per share. The business's revenue for the quarter was up 34.5% on a year-over-year basis. On average, equities research analysts expect that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a $0.60 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. InterDigital's dividend payout ratio (DPR) is presently 17.11%.

Insider Buying and Selling

In related news, Director John A. Kritzmacher sold 519 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $226.65, for a total value of $117,631.35. Following the transaction, the director owned 19,774 shares in the company, valued at approximately $4,481,777.10. This trade represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jean F. Rankin sold 606 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $226.47, for a total value of $137,240.82. Following the completion of the transaction, the director owned 27,353 shares in the company, valued at $6,194,633.91. The trade was a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,062 shares of company stock valued at $920,853 in the last ninety days. Insiders own 2.80% of the company's stock.

InterDigital Profile

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.