Neumeier Poma Investment Counsel LLC Sells 35,934 Shares of 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 lessened its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 16.5% during the 1st quarter, according to its most recent filing 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 period. InterDigital accounts for about 4.0% of Neumeier Poma Investment Counsel LLC's portfolio, making the stock its 4th largest position. Neumeier Poma Investment Counsel LLC owned 0.70% of InterDigital worth $37,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of InterDigital by 31,724.6% during the 1st quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock worth $619,810,000 after acquiring an additional 298,846 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in InterDigital by 1,451.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider's stock worth $57,986,000 after acquiring an additional 280,030 shares in the last quarter. Millennium Management LLC increased its holdings in InterDigital by 3,962.5% in the 4th quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider's stock worth $24,947,000 after acquiring an additional 125,610 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of InterDigital by 152,729.3% during the first quarter. Bessemer Group Inc. now owns 114,622 shares of the Wireless communications provider's stock worth $23,700,000 after buying an additional 114,547 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of InterDigital by 1,470.7% during the fourth quarter. Hsbc Holdings PLC now owns 86,106 shares of the Wireless communications provider's stock worth $16,784,000 after buying an additional 80,624 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Price Performance

Shares of InterDigital stock traded down $1.77 during trading hours on Friday, reaching $264.21. 178,637 shares of the company's stock were exchanged, compared to its average volume of 300,463. InterDigital, Inc. has a 1 year low of $129.76 and a 1 year high of $277.95. The company has a market capitalization of $6.82 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.37. The business has a fifty day moving average of $231.18 and a two-hundred day moving average of $214.28. 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 (NASDAQ:IDCC - Get Free Report) last released its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $167.93 million. During the same quarter in the prior year, the firm earned $4.57 earnings per share. The company's revenue for the quarter was up 34.5% compared to the same quarter last year. As a group, research analysts predict that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The firm also recently announced 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 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 is presently 17.11%.

Insider Buying and Selling at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $224.58, for a total value of $224,580.00. Following the completion of the sale, the chief technology officer owned 76,580 shares of the company's stock, valued at approximately $17,198,336.40. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Samir Armaly sold 779 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $226.52, for a total transaction of $176,459.08. Following the completion of the sale, the director directly owned 3,128 shares of the company's stock, valued at $708,554.56. This represents a 19.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,062 shares of company stock valued at $920,853. 2.80% of the stock is owned by company insiders.

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.