Harvest Fund Management Co. Ltd Lowers Position in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Harvest Fund Management Co. Ltd reduced its stake in InterDigital, Inc. by 50.4% in Q1, now holding 3,934 shares valued at $813,000.
• InterDigital has announced a quarterly dividend of $0.60 per share, with an annualized rate of $2.40 and a dividend yield of 0.98%.
• Insider transactions include significant sales by directors, with a total of 4,062 shares sold in the last ninety days, representing a 10.05% decrease in one director's ownership.

Harvest Fund Management Co. Ltd reduced its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 50.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,934 shares of the Wireless communications provider's stock after selling 3,991 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in InterDigital were worth $813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elequin Capital LP bought a new position in shares of InterDigital in the fourth quarter valued at $29,000. Wayfinding Financial LLC purchased a new position in InterDigital during the first quarter valued at approximately $32,000. Concord Wealth Partners purchased a new position in InterDigital during the first quarter valued at approximately $37,000. Versant Capital Management Inc lifted 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 valued at $42,000 after purchasing an additional 182 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in InterDigital during the fourth quarter valued at approximately $110,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Trading Down 2.1%

Shares of IDCC traded down $5.40 during mid-day trading on Friday, reaching $252.80. The company's stock had a trading volume of 426,779 shares, compared to its average volume of 274,102. The stock has a market cap of $6.56 billion, a PE ratio of 18.02, a P/E/G ratio of 1.54 and a beta of 1.37. The company's fifty day moving average price is $225.71 and its two-hundred day moving average price is $211.23. InterDigital, Inc. has a 52 week low of $129.76 and a 52 week high of $277.95. The company has a current ratio of 1.96, a quick ratio of 1.76 and a debt-to-equity ratio of 0.07.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued 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. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The business had revenue of $300.60 million during the quarter, compared to analyst estimates of $167.93 million. During the same period in the prior year, the business earned $4.57 EPS. The company's revenue for the quarter was up 34.5% on a year-over-year basis. On average, analysts predict that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. InterDigital's dividend payout ratio (DPR) is presently 17.11%.

Insider Buying and Selling

In other InterDigital news, Director Samir Armaly sold 779 shares of the firm'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 sale, the director owned 3,128 shares in the company, valued at approximately $708,554.56. This trade represents a 19.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Derek K. Aberle sold 692 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $226.41, for a total transaction of $156,675.72. Following the completion of the transaction, the director directly owned 6,192 shares of the company's stock, valued at approximately $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 have sold a total of 4,062 shares of company stock valued at $920,853 in the last 90 days. 2.80% of the stock is owned by 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.