National Bank of Canada FI Acquires Shares of 31,941 InterDigital, Inc. (NASDAQ:IDCC)

National Bank of Canada FI purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,941 shares of the Wireless communications provider's stock, valued at approximately $6,603,000. National Bank of Canada FI owned approximately 0.12% of InterDigital as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Elequin Capital LP purchased a new stake in shares of InterDigital in the 4th quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of InterDigital in the 1st quarter valued at approximately $32,000. Headlands Technologies LLC purchased a new stake in InterDigital in the 1st quarter worth approximately $35,000. Concord Wealth Partners purchased a new stake in InterDigital in the 1st quarter worth approximately $37,000. Finally, Versant Capital Management Inc lifted its position in InterDigital by 957.9% in the 1st quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock worth $42,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

Insider Activity at InterDigital

In related news, Director Jean F. Rankin sold 606 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $226.47, for a total value of $137,240.82. Following the transaction, the director directly owned 27,353 shares in the company, valued at approximately $6,194,633.91. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Derek K. Aberle sold 692 shares of the firm'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 in the company, valued at $1,401,930.72. The trade was a 10.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,062 shares of company stock worth $920,853 over the last quarter. 2.80% of the stock is currently owned by corporate insiders.

InterDigital Stock Down 0.4%

IDCC stock traded down $1.01 during midday trading on Friday, reaching $268.74. The company had a trading volume of 157,015 shares, compared to its average volume of 295,869. InterDigital, Inc. has a 1 year low of $129.76 and a 1 year high of $277.95. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $6.93 billion, a P/E ratio of 19.15, a PEG ratio of 1.64 and a beta of 1.37. The company has a 50 day moving average of $235.97 and a two-hundred day moving average of $217.79.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $167.93 million. During the same quarter in the prior year, the firm earned $4.57 EPS. The company's revenue was up 34.5% compared to the same quarter last year. On average, equities research analysts expect that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were paid 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 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.