Neumeier Poma Investment Counsel LLC Has $37.53 Million Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Neumeier Poma Investment Counsel LLC has reduced its stake in InterDigital, Inc. by 16.5%, now holding approximately 4.0% of the company with a value of $37.5 million.
• InterDigital reported a significant earnings surprise with $6.52 EPS for the latest quarter, exceeding expectations by $3.75 and showing a 34.5% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.60 per share, resulting in an annual yield of 0.9% and a payout ratio of 17.11%.

Neumeier Poma Investment Counsel LLC cut its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 181,510 shares of the Wireless communications provider's stock after selling 35,934 shares during the quarter. InterDigital accounts for approximately 4.0% of Neumeier Poma Investment Counsel LLC's holdings, making the stock its 4th biggest position. Neumeier Poma Investment Counsel LLC owned approximately 0.70% of InterDigital worth $37,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Elequin Capital LP purchased a new stake in shares of InterDigital during the 4th quarter worth about $29,000. Wayfinding Financial LLC acquired a new stake in shares of InterDigital during the 1st quarter valued at approximately $32,000. Headlands Technologies LLC bought a new position in InterDigital during the 1st quarter worth $35,000. Concord Wealth Partners bought a new position in InterDigital during the 1st quarter worth $37,000. Finally, Versant Capital Management Inc grew its stake 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 worth $42,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

Insider Buying and Selling at InterDigital

In related news, insider Joshua D. Schmidt sold 466 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $232.33, for a total value of $108,265.78. Following the completion of the sale, the insider directly owned 28,804 shares of the company's stock, valued at $6,692,033.32. The trade was a 1.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Rajesh Pankaj sold 1,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $224.58, for a total value of $224,580.00. Following the completion of the transaction, the chief technology officer owned 76,580 shares in the company, valued at $17,198,336.40. The trade was a 1.29% 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 valued at $920,853 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

InterDigital Stock Performance

Shares of NASDAQ:IDCC traded up $4.60 on Monday, hitting $268.81. The company's stock had a trading volume of 83,001 shares, compared to its average volume of 331,705. The stock's 50-day moving average is $231.18 and its two-hundred day moving average is $214.85. InterDigital, Inc. has a 12 month low of $129.76 and a 12 month high of $277.95. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 1.61 and a beta of 1.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $3.75. The company had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%. The company's quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter last year, the company earned $4.57 EPS. On average, equities research analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Dividend Announcement

The business 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 of this dividend 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 currently 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.