Vestcor Inc Has $1.03 Million Position in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Vestcor Inc increased its holdings in InterDigital, Inc. by 39.5% during the first quarter, owning 4,984 shares valued at approximately $1,030,000.
• InterDigital reported $6.52 earnings per share (EPS) for the last quarter, significantly exceeding analysts' expectations and marking a 34.5% year-over-year revenue increase.
• The company has announced a quarterly dividend of $0.60 per share, translating to an annualized dividend yield of 0.9%.

Vestcor Inc lifted its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 39.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,984 shares of the Wireless communications provider's stock after buying an additional 1,410 shares during the period. Vestcor Inc's holdings in InterDigital were worth $1,030,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Elequin Capital LP acquired a new position in shares of InterDigital during the 4th quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in shares of InterDigital during the first quarter worth about $32,000. Concord Wealth Partners acquired a new position in shares of InterDigital during the first quarter worth about $37,000. Versant Capital Management Inc lifted its stake in shares of InterDigital by 957.9% during the first quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock worth $42,000 after purchasing an additional 182 shares in the last quarter. Finally, Transce3nd LLC acquired a new position in shares of InterDigital during the fourth quarter worth about $110,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Stock Up 7.0%

NASDAQ:IDCC traded up $17.65 during mid-day trading on Monday, reaching $270.45. The stock had a trading volume of 388,661 shares, compared to its average volume of 295,443. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.54 and a beta of 1.37. InterDigital, Inc. has a 1-year low of $129.76 and a 1-year high of $277.95. The stock's 50 day simple moving average is $225.71 and its two-hundred day simple moving average is $211.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96.

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

InterDigital Announces Dividend

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

Insider Activity at InterDigital

In other InterDigital news, Director John A. Kritzmacher sold 519 shares of the business's stock in a transaction 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 sale, the director directly owned 19,774 shares of the company's stock, valued at $4,481,777.10. The trade was a 2.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Derek K. Aberle sold 692 shares of the business'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 sale, the director directly owned 6,192 shares in the company, valued at approximately $1,401,930.72. This trade represents a 10.05% 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 worth $920,853. Insiders own 2.30% of the company's stock.

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.