Townsquare Capital LLC Has $4 Million Position in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Townsquare Capital LLC increased its holdings in InterDigital, Inc. by 16.9%, owning 19,338 shares valued at approximately $4 million following a recent acquisition of additional shares.
• InterDigital reported strong earnings of $6.52 EPS, significantly exceeding analysts' estimates, along with a revenue of $300.6 million for the last quarter.
• The company announced a quarterly dividend of $0.60 per share, reflecting a 0.9% dividend yield with a payout ratio of 17.11%.

Townsquare Capital LLC lifted its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 16.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,338 shares of the Wireless communications provider's stock after purchasing an additional 2,800 shares during the period. Townsquare Capital LLC owned 0.07% of InterDigital worth $3,998,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of IDCC. Fuller & Thaler Asset Management Inc. grew its holdings in InterDigital by 3.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 612,851 shares of the Wireless communications provider's stock valued at $118,722,000 after buying an additional 21,319 shares in the last quarter. Reinhart Partners LLC. raised its stake in InterDigital by 13.9% during the first quarter. Reinhart Partners LLC. now owns 410,442 shares of the Wireless communications provider's stock valued at $84,859,000 after purchasing an additional 50,204 shares in the last quarter. Congress Asset Management Co. lifted its position in InterDigital by 5.0% during the first quarter. Congress Asset Management Co. now owns 339,101 shares of the Wireless communications provider's stock valued at $70,109,000 after purchasing an additional 16,040 shares during the last quarter. Invesco Ltd. grew its stake in shares of InterDigital by 4.7% in the 4th quarter. Invesco Ltd. now owns 327,851 shares of the Wireless communications provider's stock worth $63,511,000 after buying an additional 14,809 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of InterDigital by 31,724.6% in the 1st quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock worth $619,810,000 after buying an additional 298,846 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other InterDigital news, Director John A. Kritzmacher sold 519 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $226.65, for a total value of $117,631.35. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Samir Armaly sold 779 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.52, for a total transaction of $176,459.08. Following the transaction, the director directly owned 3,128 shares of the company's stock, valued at $708,554.56. This trade represents a 19.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,062 shares of company stock valued at $920,853. 2.80% of the stock is owned by insiders.

InterDigital Stock Down 2.3%

Shares of IDCC stock traded down $6.36 during trading hours on Thursday, reaching $269.75. 154,883 shares of the company's stock were exchanged, compared to its average volume of 330,147. 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 cap of $6.96 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.67 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 stock's 50 day moving average is $234.28 and its 200-day moving average is $216.29.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, beating the consensus estimate of $2.77 by $3.75. The firm had revenue of $300.60 million during the quarter, compared to analyst estimates of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%. InterDigital's revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.57 EPS. Analysts predict that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were paid a $0.60 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. InterDigital's payout ratio is currently 17.11%.

InterDigital Company 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.