InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in InterDigital, Inc. by 7.0% during the first quarter, holding 63,705 shares worth approximately $13.17 million after selling 4,822 shares.
• InterDigital reported $6.52 earnings per share for the quarter, significantly exceeding analysts' expectations of $2.77, and experienced a 34.5% year-over-year increase in revenue, totaling $300.6 million.
• The company declared a quarterly dividend of $0.60 per share, with a dividend yield of 0.9% and a payout ratio of 19.03%.

Federated Hermes Inc. lessened its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,705 shares of the Wireless communications provider's stock after selling 4,822 shares during the period. Federated Hermes Inc. owned about 0.25% of InterDigital worth $13,171,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Elequin Capital LP acquired a new position in shares of InterDigital in the fourth quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new stake in InterDigital in the first quarter valued at approximately $32,000. Concord Wealth Partners purchased a new stake in InterDigital in the first quarter valued at approximately $37,000. Versant Capital Management Inc grew its holdings in InterDigital by 957.9% in 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 period. Finally, Transce3nd LLC purchased a new stake in InterDigital in the fourth quarter valued at approximately $110,000. Institutional investors and hedge funds own 99.83% of the company's stock.

InterDigital Trading Up 7.0%

IDCC traded up $17.65 during trading on Monday, hitting $270.45. 388,661 shares of the company's stock were exchanged, compared to its average volume of 295,443. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 1 year low of $129.76 and a 1 year high of $277.95. The stock has a 50 day moving average price of $225.71 and a 200 day moving average price of $211.50. The firm has a market cap of $6.98 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.54 and a beta of 1.37.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (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 company had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. During the same period in the previous year, the firm earned $4.57 earnings per share. InterDigital's revenue for the quarter was up 34.5% on a year-over-year basis. As a group, analysts expect that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Announces Dividend

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

Insiders Place Their Bets

In other news, Director Samir Armaly sold 779 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $226.52, for a total value of $176,459.08. Following the completion of the transaction, the director directly owned 3,128 shares in the company, valued at approximately $708,554.56. This represents a 19.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Derek K. Aberle sold 692 shares of the company'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 owned 6,192 shares of the company's stock, valued at $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. In the last ninety days, insiders sold 4,062 shares of company stock valued at $920,853. Corporate insiders own 2.30% of the company's stock.

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.