Maridea Wealth Management LLC Invests $383,000 in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Maridea Wealth Management LLC has invested $383,000 in InterDigital, acquiring 1,854 shares during the first quarter.
• InterDigital recently announced a quarterly dividend of $0.60 per share, representing an annualized amount of $2.40 and a yield of 1.08%.
• The company's stock has demonstrated significant fluctuation, with a 1-year low of $120.18 and a high of $237.50, currently trading at $222.11.

Maridea Wealth Management LLC bought a new position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,854 shares of the Wireless communications provider's stock, valued at approximately $383,000.

A number of other institutional investors have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in InterDigital by 7.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider's stock valued at $928,000 after acquiring an additional 316 shares during the last quarter. Cerity Partners LLC lifted its holdings in InterDigital by 91.2% in the first quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider's stock valued at $533,000 after acquiring an additional 1,229 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in InterDigital by 8.5% in the first quarter. Envestnet Asset Management Inc. now owns 146,384 shares of the Wireless communications provider's stock valued at $30,265,000 after acquiring an additional 11,411 shares during the last quarter. CWM LLC raised its position in InterDigital by 24.0% in the first quarter. CWM LLC now owns 1,138 shares of the Wireless communications provider's stock valued at $235,000 after purchasing an additional 220 shares during the period. Finally, GAMMA Investing LLC raised its position in InterDigital by 53.9% in the first quarter. GAMMA Investing LLC now owns 1,450 shares of the Wireless communications provider's stock valued at $300,000 after purchasing an additional 508 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Trading Down 1.8%

NASDAQ IDCC traded down $4.66 on Friday, reaching $253.54. The stock had a trading volume of 230,392 shares, compared to its average volume of 334,753. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.57 and a beta of 1.36. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 12-month low of $129.76 and a 12-month high of $277.95. The stock has a fifty day moving average price of $224.90 and a two-hundred day moving average price of $210.46.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its earnings results 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. InterDigital had a net margin of 48.14% and a return on equity of 50.51%. The firm had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. During the same quarter in the previous year, the firm posted $4.57 earnings per share. The company's revenue was up 34.5% compared to the same quarter last year. As a group, sell-side analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were issued a dividend of $0.60 per share. 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 is currently 19.03%.

Insider Activity

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of the 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 transaction, the chief technology officer directly owned 76,580 shares of the company's stock, valued at approximately $17,198,336.40. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John A. Kritzmacher sold 519 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $226.65, for a total transaction of $117,631.35. Following the completion of the transaction, the director directly owned 19,774 shares of the company's stock, valued at approximately $4,481,777.10. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,062 shares of company stock valued at $920,853 over the last ninety days. 2.80% of the stock is currently 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.