Picton Mahoney Asset Management Buys 5,003 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Picton Mahoney Asset Management raised its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 2,764.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,184 shares of the Wireless communications provider's stock after purchasing an additional 5,003 shares during the period. Picton Mahoney Asset Management's holdings in InterDigital were worth $1,072,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IDCC. GAMMA Investing LLC boosted its position in shares of InterDigital by 31,724.6% in the first quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock valued at $619,810,000 after acquiring an additional 298,846 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of InterDigital by 1,451.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider's stock valued at $57,986,000 after acquiring an additional 280,030 shares during the period. Millennium Management LLC boosted its position in shares of InterDigital by 3,962.5% in the fourth quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider's stock valued at $24,947,000 after acquiring an additional 125,610 shares during the period. Bessemer Group Inc. boosted its position in shares of InterDigital by 152,729.3% in the first quarter. Bessemer Group Inc. now owns 114,622 shares of the Wireless communications provider's stock valued at $23,700,000 after acquiring an additional 114,547 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of InterDigital in the fourth quarter valued at about $19,572,000. Institutional investors own 99.83% of the company's stock.

Insider Buying and Selling at InterDigital

In related news, Director Derek K. Aberle sold 692 shares of the company's stock in a transaction dated 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 sale, the director owned 6,192 shares of the company's stock, valued at $1,401,930.72. This represents a 10.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 1,000 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $224.58, for a total transaction of $224,580.00. Following the sale, the chief technology officer directly owned 76,580 shares of the company's stock, valued at $17,198,336.40. This represents 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 three months. 2.80% of the stock is owned by insiders.

InterDigital Stock Performance

Shares of InterDigital stock traded down $5.40 during 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 business's 50-day moving average price is $225.71 and its 200-day moving average price is $210.98. The firm has a market cap of $6.56 billion, a PE ratio of 18.02, a P/E/G ratio of 1.57 and a beta of 1.37. InterDigital, Inc. has a 52 week low of $129.76 and a 52 week high of $277.95. The company has a quick ratio of 1.76, a current ratio of 1.96 and a debt-to-equity ratio of 0.07.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, beating 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 company had revenue of $300.60 million during the quarter, compared to analysts' expectations of $167.93 million. During the same quarter in the previous year, the business posted $4.57 earnings per share. InterDigital's quarterly revenue was up 34.5% on a year-over-year basis. Equities analysts forecast that InterDigital, Inc. will post 9.21 earnings per share for the current year.

InterDigital Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.9%. InterDigital's dividend payout ratio is currently 17.11%.

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.