Charles Schwab Investment Management Inc. Cuts Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in InterDigital, Inc. by 3.9% in the first quarter, now owning 296,761 shares valued at about $61.35 million.
• InterDigital's latest earnings report showed a significant profit, with $6.52 earnings per share, surpassing estimates by nearly $3.75 and reflecting a 34.5% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.60 per share, resulting in an annualized yield of 0.9% with a payout ratio of 17.11%.

Charles Schwab Investment Management Inc. decreased its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 296,761 shares of the Wireless communications provider's stock after selling 12,176 shares during the period. Charles Schwab Investment Management Inc. owned about 1.14% of InterDigital worth $61,355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elequin Capital LP acquired a new stake in shares of InterDigital in the fourth quarter valued at about $29,000. Wayfinding Financial LLC acquired a new stake in shares of InterDigital in the first quarter valued at about $32,000. Concord Wealth Partners acquired a new stake in shares of InterDigital in the first quarter valued at about $37,000. Versant Capital Management Inc grew its position 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 purchasing an additional 182 shares during the period. Finally, Harbour Investments Inc. grew its position in shares of InterDigital by 237.5% in the first quarter. Harbour Investments Inc. now owns 378 shares of the Wireless communications provider's stock valued at $78,000 after purchasing an additional 266 shares during the period. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Stock Performance

IDCC opened at $268.74 on Friday. 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 firm's 50-day moving average price is $235.97 and its 200 day moving average price is $217.53. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly 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 firm 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 quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.57 earnings per share. As a group, sell-side analysts expect that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given 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 payout ratio is presently 17.11%.

Insider Activity

In related news, CTO Rajesh Pankaj sold 1,000 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $224.58, for a total transaction of $224,580.00. Following the transaction, the chief technology officer directly owned 76,580 shares in the company, valued at approximately $17,198,336.40. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John A. Kritzmacher sold 519 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $226.65, for a total transaction of $117,631.35. Following the transaction, the director owned 19,774 shares in the company, valued at $4,481,777.10. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,062 shares of company stock valued at $920,853 in the last ninety days. 2.80% of the stock is currently owned by corporate insiders.

InterDigital Company 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.

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