Pacer Advisors Inc. Boosts Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Pacer Advisors Inc. increased its stake in InterDigital, Inc. by 396.1% during the 1st quarter, holding 2,922 shares valued at $604,000.
• InterDigital reported a significant earnings increase, with a net margin of 51.92% and revenue of $300.6 million for the quarter, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.60 per share, contributing to a dividend yield of 0.9% and a payout ratio of 17.11%.

Pacer Advisors Inc. grew its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 396.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,922 shares of the Wireless communications provider's stock after purchasing an additional 2,333 shares during the period. Pacer Advisors Inc.'s holdings in InterDigital were worth $604,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDCC. Assetmark Inc. lifted its stake in InterDigital by 16.0% in the first quarter. Assetmark Inc. now owns 21,030 shares of the Wireless communications provider's stock worth $4,348,000 after purchasing an additional 2,906 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of InterDigital by 58.6% during the 1st quarter. Cetera Investment Advisers now owns 4,604 shares of the Wireless communications provider's stock worth $952,000 after acquiring an additional 1,702 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in InterDigital by 7.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,959 shares of the Wireless communications provider's stock valued at $405,000 after acquiring an additional 140 shares during the period. Pinnacle Associates Ltd. bought a new position in InterDigital in the 1st quarter valued at $320,000. Finally, Allianz Asset Management GmbH increased its stake in InterDigital by 3,293.9% in the first quarter. Allianz Asset Management GmbH now owns 68,761 shares of the Wireless communications provider's stock worth $14,216,000 after purchasing an additional 66,735 shares during the period. Hedge funds and other institutional investors own 99.83% of the company's stock.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 1,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief technology officer owned 76,580 shares of the company's stock, valued at approximately $17,198,336.40. This represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the director directly owned 19,774 shares in the company, valued at approximately $4,481,777.10. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,062 shares of company stock worth $920,853. Insiders own 2.80% of the company's stock.

InterDigital Trading Down 2.1%

Shares of NASDAQ:IDCC traded down $5.40 on Friday, hitting $252.80. 426,779 shares of the company's stock were exchanged, compared to its average volume of 274,102. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.54 and a beta of 1.37. InterDigital, Inc. has a 12 month low of $129.76 and a 12 month high of $277.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 1.76. The business's 50 day simple moving average is $225.71 and its two-hundred day simple moving average is $211.23.

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 51.92% and a return on equity of 53.44%. The business had revenue of $300.60 million for the quarter, compared to the consensus estimate of $167.93 million. During the same period in the prior year, the firm earned $4.57 EPS. The company's revenue for the quarter was up 34.5% compared to the same quarter last year. Analysts anticipate that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Dividend Announcement

The company 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 of this dividend was Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. InterDigital's dividend payout ratio is presently 17.11%.

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.