Mesirow Financial Investment Management Inc. Lowers Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Mesirow Financial Investment Management Inc. significantly cut its stake in InterDigital, Inc. by 51.1%, reducing its shares from 2,094 to 1,025, valued at approximately $212,000.
• Several institutional investors, including Wealth Enhancement Advisory Services LLC and Cerity Partners LLC, increased their holdings in InterDigital during the first quarter, highlighting a trend of investment interest.
• InterDigital reported strong quarterly earnings with $6.52 earnings per share, surpassing estimates and showing a 34.5% year-over-year revenue growth.

Mesirow Financial Investment Management Inc. lowered its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 51.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,025 shares of the Wireless communications provider's stock after selling 1,069 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in InterDigital were worth $212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IDCC. GAMMA Investing LLC grew its position 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 valued at $619,810,000 after acquiring an additional 298,846 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of InterDigital by 1,451.2% during the 4th 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 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 during the last quarter. Bessemer Group Inc. raised its stake in InterDigital by 152,729.3% in the 1st 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 InterDigital in the 4th quarter valued at about $19,572,000. Hedge funds and other institutional investors own 99.83% of the company's stock.

Insider Activity

In other InterDigital news, Director John A. Kritzmacher sold 519 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $226.65, for a total value of $117,631.35. Following the sale, the director directly owned 19,774 shares in the company, valued at $4,481,777.10. This represents a 2.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Samir Armaly sold 779 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $226.52, for a total value of $176,459.08. Following the transaction, the director owned 3,128 shares of the company's stock, valued at approximately $708,554.56. The trade was a 19.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,062 shares of company stock valued at $920,853. 2.30% of the stock is currently owned by insiders.

InterDigital Stock Performance

InterDigital stock traded up $1.74 during midday trading on Wednesday, reaching $271.34. The stock had a trading volume of 85,403 shares, compared to its average volume of 334,758. InterDigital, Inc. has a 12 month low of $129.76 and a 12 month high of $277.95. The firm's 50-day moving average price is $228.04 and its 200 day moving average price is $212.59. The firm has a market capitalization of $7.00 billion, a PE ratio of 19.33, a P/E/G ratio of 1.65 and a beta of 1.37. 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 announced its quarterly earnings data 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 return on equity of 53.44% and a net margin of 51.92%. The business had revenue of $300.60 million for the quarter, compared to analysts' expectations of $167.93 million. During the same period in the previous year, the business posted $4.57 EPS. The firm's quarterly revenue 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 business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were given a dividend of $0.60 per share. 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 currently 17.11%.

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.