Baader Bank Aktiengesellschaft Increases Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Baader Bank Aktiengesellschaft increased its stake in InterDigital, Inc. by 114% in the first quarter, holding a total of 3,253 shares worth $668,000 after acquiring an additional 1,733 shares.
• InterDigital recently announced a quarterly dividend of $0.60 per share, which is part of an annualized yield of 0.98% and reflects a dividend payout ratio of 19.03%.
• InterDigital's stock is currently trading at $245.18, showing a significant increase of 10.8%, with a market cap of $6.36 billion and a PE ratio of 19.44.

Baader Bank Aktiengesellschaft increased its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 114.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,253 shares of the Wireless communications provider's stock after purchasing an additional 1,733 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in InterDigital were worth $668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. raised its position in shares of InterDigital by 3.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 612,851 shares of the Wireless communications provider's stock valued at $118,722,000 after purchasing an additional 21,319 shares during the period. Geode Capital Management LLC raised its position in shares of InterDigital by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider's stock valued at $115,240,000 after purchasing an additional 1,991 shares during the period. Reinhart Partners LLC. raised its position in shares of InterDigital by 13.9% in the first quarter. Reinhart Partners LLC. now owns 410,442 shares of the Wireless communications provider's stock valued at $84,859,000 after purchasing an additional 50,204 shares during the period. Congress Asset Management Co. raised its position in shares of InterDigital by 5.0% in the first quarter. Congress Asset Management Co. now owns 339,101 shares of the Wireless communications provider's stock valued at $70,109,000 after purchasing an additional 16,040 shares during the period. Finally, Invesco Ltd. raised its position in shares of InterDigital by 4.7% in the fourth quarter. Invesco Ltd. now owns 327,851 shares of the Wireless communications provider's stock valued at $63,511,000 after purchasing an additional 14,809 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other InterDigital news, Director Samir Armaly sold 779 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $226.52, for a total value of $176,459.08. Following the completion of the transaction, the director owned 3,128 shares of the company's stock, valued at $708,554.56. The trade was a 19.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Rajesh Pankaj sold 1,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $224.58, for a total transaction of $224,580.00. Following the completion of the transaction, the chief technology officer directly owned 76,580 shares of the company's stock, valued at approximately $17,198,336.40. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,062 shares of company stock worth $920,853. 2.80% of the stock is owned by corporate insiders.

InterDigital Stock Performance

Shares of NASDAQ IDCC traded down $5.40 during midday trading on Friday, hitting $252.80. The company's stock had a trading volume of 426,779 shares, compared to its average volume of 274,102. The stock has a fifty day moving average price of $225.71 and a 200 day moving average price of $210.98. InterDigital, Inc. has a one year low of $129.76 and a one year high of $277.95. The company has a current ratio of 1.96, a quick ratio of 1.76 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.57 and a beta of 1.37.

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

InterDigital Dividend Announcement

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

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.