Public Sector Pension Investment Board Has $19.23 Million Position in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• The Public Sector Pension Investment Board increased its stake in InterDigital, Inc. by 47.3% during Q1, owning approximately $19.23 million worth of shares.
• InterDigital reported $6.52 earnings per share for the last quarter, significantly surpassing analysts' expectations and achieving a 34.5% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.60, representing an annualized dividend yield of 0.9%, with a payout ratio of 17.11%.

Public Sector Pension Investment Board increased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 47.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,016 shares of the Wireless communications provider's stock after buying an additional 29,858 shares during the quarter. Public Sector Pension Investment Board owned about 0.36% of InterDigital worth $19,231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Elequin Capital LP acquired a new stake in shares of InterDigital in the 4th quarter valued at $29,000. Wayfinding Financial LLC acquired a new stake in shares of InterDigital in the 1st quarter valued at $32,000. Headlands Technologies LLC acquired a new stake in shares of InterDigital in the 1st quarter valued at $35,000. Concord Wealth Partners acquired a new stake in shares of InterDigital in the 1st quarter valued at $37,000. Finally, Versant Capital Management Inc boosted its holdings in shares of InterDigital by 957.9% in the 1st 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 in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction on Monday, July 7th. The stock was 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 in the company, valued at approximately $17,198,336.40. This represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Samir Armaly sold 779 shares of the 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 owned 3,128 shares of the company's stock, valued at $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. Insiders sold 4,062 shares of company stock worth $920,853 in the last ninety days. Insiders own 2.30% of the company's stock.

InterDigital Trading Up 0.8%

Shares of IDCC stock opened at $266.31 on Tuesday. The stock's fifty day moving average price is $232.18 and its two-hundred day moving average price is $215.47. The company has a market cap of $6.87 billion, a PE ratio of 18.98, a P/E/G ratio of 1.61 and a beta of 1.37. InterDigital, Inc. has a fifty-two week low of $129.76 and a fifty-two week high of $277.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, beating analysts' consensus estimates of $2.77 by $3.75. The firm had revenue of $300.60 million for the quarter, compared to the consensus estimate of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%. The company's revenue was up 34.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.57 EPS. Equities analysts predict 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 paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, July 9th. 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.

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