Entropy Technologies LP Invests $1.96 Million in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Entropy Technologies LP has acquired a new position in InterDigital, Inc., purchasing 9,463 shares valued at approximately $1.96 million.
• Multiple institutional investors have increased their stakes in InterDigital, with several firms boosting their holdings significantly during the first quarter of this year.
• InterDigital recently reported $6.52 earnings per share for the last quarter, surpassing the consensus estimate by $3.75, alongside a revenue of $300.60 million.

Entropy Technologies LP acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,463 shares of the Wireless communications provider's stock, valued at approximately $1,956,000.

Other large investors also recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new stake in InterDigital in the 4th quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in InterDigital during the first quarter valued at approximately $32,000. Headlands Technologies LLC purchased a new position in InterDigital during the first quarter valued at approximately $35,000. Concord Wealth Partners purchased a new position in InterDigital during the first quarter valued at approximately $37,000. Finally, Versant Capital Management Inc increased its holdings in InterDigital by 957.9% during the first quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock valued at $42,000 after buying an additional 182 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director John A. Kritzmacher sold 519 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were 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 approximately $4,481,777.10. This represents a 2.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Samir Armaly sold 779 shares of the company'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 transaction of $176,459.08. Following the transaction, the director owned 3,128 shares in the company, 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 have sold a total of 4,062 shares of company stock worth $920,853 in the last three months. 2.80% of the stock is owned by company insiders.

InterDigital Stock Down 0.1%

IDCC stock traded down $0.16 during trading on Friday, hitting $269.60. 54,783 shares of the company's stock traded hands, compared to its average volume of 328,660. The firm has a market capitalization of $6.96 billion, a P/E ratio of 19.22, a PEG ratio of 1.68 and a beta of 1.37. The business has a fifty day simple moving average of $235.14 and a two-hundred day simple moving average of $216.93. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 1 year low of $129.76 and a 1 year high of $277.95.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $300.60 million during 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 previous year, the business posted $4.57 EPS. Sell-side analysts anticipate that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Announces Dividend

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 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 presently 17.11%.

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.