InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Boston Partners

Key Points

• Boston Partners reduced its stake in InterDigital, Inc. by 25%, selling 405,070 shares during the first quarter, leaving them with 1,214,475 shares valued at approximately $249.9 million.
• InterDigital reported a strong earnings performance with $6.52 EPS for the quarter, significantly exceeding analysts' expectations of $2.77, and a 34.5% revenue increase year-over-year.
• The company also declared a quarterly dividend of $0.60 per share, with an annualized dividend yield of 0.9%, and maintains a dividend payout ratio of 17.11%.

Boston Partners cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 25.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,214,475 shares of the Wireless communications provider's stock after selling 405,070 shares during the period. Boston Partners owned about 4.68% of InterDigital worth $249,906,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Elequin Capital LP acquired a new position in InterDigital in the fourth quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new position in InterDigital in the first quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in shares of InterDigital in the first quarter valued at approximately $35,000. Concord Wealth Partners acquired a new stake in shares of InterDigital in the first quarter valued at approximately $37,000. Finally, Versant Capital Management Inc boosted its holdings in shares of InterDigital by 957.9% in the first quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock valued at $42,000 after acquiring an additional 182 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Performance

Shares of IDCC stock traded down $1.01 during trading hours on Friday, hitting $268.74. The stock had a trading volume of 157,015 shares, compared to its average volume of 295,869. The firm has a market capitalization of $6.93 billion, a PE ratio of 19.15, a PEG ratio of 1.64 and a beta of 1.37. InterDigital, Inc. has a twelve month low of $129.76 and a twelve month high of $277.95. The stock's 50 day moving average is $235.97 and its 200 day moving average is $217.79. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly 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 return on equity of 53.44% and a net margin of 51.92%. The business had revenue of $300.60 million during the quarter, compared to analysts' expectations of $167.93 million. During the same quarter in the prior year, the business earned $4.57 earnings per share. The company's quarterly revenue was up 34.5% compared to the same quarter last year. As a group, research analysts forecast that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders 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 annualized dividend and a yield of 0.9%. InterDigital's dividend payout ratio is presently 17.11%.

Insider Transactions at InterDigital

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