Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 15,134 InterDigital, Inc. (NASDAQ:IDCC)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,134 shares of the Wireless communications provider's stock, valued at approximately $3,129,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of InterDigital at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in IDCC. LPL Financial LLC increased its stake in InterDigital by 54.2% in the 4th quarter. LPL Financial LLC now owns 7,996 shares of the Wireless communications provider's stock worth $1,549,000 after buying an additional 2,810 shares during the period. Russell Investments Group Ltd. increased its position in InterDigital by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,932 shares of the Wireless communications provider's stock valued at $568,000 after purchasing an additional 51 shares during the period. Summit Investment Advisors Inc. increased its position in InterDigital by 3.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,646 shares of the Wireless communications provider's stock valued at $513,000 after purchasing an additional 83 shares during the period. EAM Investors LLC purchased a new position in InterDigital during the 4th quarter valued at about $5,504,000. Finally, NewEdge Advisors LLC increased its position in InterDigital by 488.4% during the 4th quarter. NewEdge Advisors LLC now owns 2,842 shares of the Wireless communications provider's stock valued at $551,000 after purchasing an additional 2,359 shares during the period. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Stock Down 0.4%

NASDAQ IDCC traded down $1.01 during trading on Friday, reaching $268.74. 157,015 shares of the company's stock traded hands, compared to its average volume of 295,869. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.64 and a beta of 1.37. The company's 50 day simple moving average is $235.97 and its two-hundred day simple moving average is $217.79. InterDigital, Inc. has a 12-month low of $129.76 and a 12-month high of $277.95.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, beating analysts' consensus estimates of $2.77 by $3.75. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The business had revenue of $300.60 million for the quarter, compared to analysts' expectations of $167.93 million. During the same period last year, the business earned $4.57 EPS. The company's revenue was up 34.5% compared to the same quarter last year. As a group, sell-side analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were paid a $0.60 dividend. 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 (DPR) is 17.11%.

Insider Buying and Selling

In related news, Director Samir Armaly sold 779 shares of InterDigital 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 sale, the director directly owned 3,128 shares in the company, valued at $708,554.56. This trade represents a 19.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Derek K. Aberle sold 692 shares of InterDigital stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.41, for a total transaction of $156,675.72. Following the completion of the sale, the director owned 6,192 shares of the company's stock, valued at $1,401,930.72. This trade represents a 10.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,062 shares of company stock worth $920,853 over the last ninety days. Company insiders own 2.80% of the company's stock.

About InterDigital

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.