Castellan Group Buys New Stake in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Castellan Group acquired a new stake of 60,808 shares in InterDigital, Inc., valued at approximately $12.57 million, making it the company's fourth-largest holding.
• Recent insider transactions include Director John A. Kritzmacher selling 519 shares and Joshua D. Schmidt selling 466 shares, indicating a decrease in their ownership percentages.
• InterDigital announced a quarterly dividend of $0.60, representing an annualized yield of 0.9% and a payout ratio of 19.03%.

Castellan Group purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 60,808 shares of the Wireless communications provider's stock, valued at approximately $12,572,000. InterDigital accounts for approximately 3.5% of Castellan Group's holdings, making the stock its 4th largest position. Castellan Group owned 0.23% of InterDigital as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in IDCC. Elequin Capital LP acquired a new position in shares of InterDigital in the 4th quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in InterDigital in the first quarter valued at approximately $32,000. Concord Wealth Partners acquired a new position in InterDigital during the first quarter worth $37,000. Versant Capital Management Inc boosted its position in shares of InterDigital by 957.9% during the first quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock worth $42,000 after buying an additional 182 shares during the period. Finally, Harbour Investments Inc. boosted its position in shares of InterDigital by 237.5% during the first quarter. Harbour Investments Inc. now owns 378 shares of the Wireless communications provider's stock worth $78,000 after buying an additional 266 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $224.58, for a total transaction of $224,580.00. Following the sale, the chief technology officer owned 76,580 shares in the company, valued at $17,198,336.40. This represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Samir Armaly sold 779 shares of InterDigital stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 4,062 shares of company stock worth $920,853 over the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

InterDigital Trading Down 2.1%

Shares of IDCC stock traded down $5.40 on Friday, hitting $252.80. The stock had a trading volume of 426,779 shares, compared to its average volume of 274,102. The company's 50 day moving average price is $225.71 and its 200-day moving average price is $211.23. InterDigital, Inc. has a 1 year low of $129.76 and a 1 year high of $277.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 1.76. The firm has a market capitalization of $6.56 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.54 and a beta of 1.37.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, beating the consensus estimate of $2.77 by $3.75. The company had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%. InterDigital's revenue was up 34.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.57 EPS. Analysts anticipate that InterDigital, Inc. will post 9.21 earnings per share for the current year.

InterDigital Dividend Announcement

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