Informed Momentum Co LLC Sells 11,257 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Informed Momentum Co LLC has reduced its stake in InterDigital, Inc. by 39.6%, holding 17,153 shares valued at approximately $3.5 million following the sale of 11,257 shares.
• InterDigital reported earnings of $6.52 per share for the last quarter, significantly beating estimates, with revenues of $300.60 million, up 34.5% year-over-year.
• The company recently declared a quarterly dividend of $0.60 per share, representing an annualized yield of 0.9% and a dividend payout ratio of 17.11%.

Informed Momentum Co LLC decreased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 39.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,153 shares of the Wireless communications provider's stock after selling 11,257 shares during the period. Informed Momentum Co LLC owned 0.07% of InterDigital worth $3,546,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of IDCC. LPL Financial LLC boosted its holdings in shares of InterDigital by 54.2% during the 4th quarter. LPL Financial LLC now owns 7,996 shares of the Wireless communications provider's stock worth $1,549,000 after buying an additional 2,810 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of InterDigital by 10.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 134,973 shares of the Wireless communications provider's stock worth $26,147,000 after buying an additional 12,816 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of InterDigital by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,932 shares of the Wireless communications provider's stock worth $568,000 after buying an additional 51 shares during the period. Invesco Ltd. boosted its holdings in shares of InterDigital by 4.7% during the 4th quarter. Invesco Ltd. now owns 327,851 shares of the Wireless communications provider's stock worth $63,511,000 after buying an additional 14,809 shares during the period. Finally, Townsquare Capital LLC bought a new stake in shares of InterDigital during the 4th quarter worth about $3,204,000. Institutional investors own 99.83% of the company's stock.

InterDigital Stock Performance

Shares of IDCC stock traded down $6.36 during midday trading on Thursday, hitting $269.75. 154,885 shares of the company were exchanged, compared to its average volume of 330,451. The firm has a market capitalization of $6.96 billion, a P/E ratio of 19.23, a PEG ratio of 1.67 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. The firm's 50 day moving average price is $234.28 and its two-hundred day moving average price is $216.29. InterDigital, Inc. has a 52 week low of $129.76 and a 52 week high of $277.95.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share 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 analysts' expectations of $167.93 million. During the same quarter in the previous year, the company earned $4.57 EPS. The business's revenue was up 34.5% on a year-over-year basis. As a group, equities research analysts anticipate that InterDigital, Inc. will post 9.21 earnings per share for the current year.

InterDigital Dividend Announcement

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

Insider Transactions at InterDigital

In related news, Director John A. Kritzmacher sold 519 shares of InterDigital stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $226.65, for a total transaction of $117,631.35. Following the sale, the director directly owned 19,774 shares of the company's stock, valued at approximately $4,481,777.10. The trade was a 2.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Samir Armaly sold 779 shares of InterDigital 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 directly owned 3,128 shares in the company, valued at $708,554.56. This trade represents a 19.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,062 shares of company stock worth $920,853. Corporate insiders own 2.80% of the company's stock.

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.