Exencial Wealth Advisors LLC Invests $207,000 in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Exencial Wealth Advisors LLC has acquired a stake of 1,003 shares in InterDigital, Inc. valued at approximately $207,000 during the first quarter.
• InterDigital reported a remarkable increase in earnings per share to $6.52, significantly surpassing analysts' expectations of $2.77 for the last quarter.
• The company announced a quarterly dividend of $0.60 per share, which translates to an annualized dividend yield of 0.9% for shareholders.

Exencial Wealth Advisors LLC purchased a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,003 shares of the Wireless communications provider's stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDCC. Elequin Capital LP bought a new stake in shares of InterDigital in the fourth quarter valued at about $29,000. Wayfinding Financial LLC acquired a new position in InterDigital during the first quarter worth approximately $32,000. Concord Wealth Partners acquired a new position in InterDigital during the first quarter worth approximately $37,000. Versant Capital Management Inc increased its position in 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 last quarter. Finally, Harbour Investments Inc. boosted its holdings 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 acquiring an additional 266 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at InterDigital

In related news, Director Jean F. Rankin sold 606 shares of the stock in a transaction on Monday, June 9th. The stock was 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 represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Kritzmacher sold 519 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $226.65, for a total value of $117,631.35. Following the completion of the sale, the director owned 19,774 shares of the company's stock, 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. In the last ninety days, insiders sold 4,062 shares of company stock valued at $920,853. 2.30% of the stock is owned by company insiders.

InterDigital Stock Performance

Shares of NASDAQ:IDCC traded up $1.82 during trading on Wednesday, reaching $275.44. 49,009 shares of the stock were exchanged, compared to its average volume of 330,764. InterDigital, Inc. has a 12 month low of $129.76 and a 12 month high of $277.95. The firm has a market cap of $7.11 billion, a PE ratio of 19.63, a PEG ratio of 1.62 and a beta of 1.37. The stock has a 50-day moving average price of $233.22 and a 200-day moving average price of $215.88. 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 issued its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $3.75. The business had revenue of $300.60 million during the quarter, compared to analysts' expectations of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%. The firm's revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.57 earnings per share. Research analysts expect that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders 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 annualized dividend and a dividend 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.