XTX Topco Ltd Cuts Stake in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• XTX Topco Ltd significantly reduced its holdings in InterDigital, Inc. by 88.2%, selling 9,344 shares during the first quarter, leaving them with only 1,251 shares valued at approximately $259,000.
• InterDigital reported impressive earnings, with an EPS of $6.52 for the last quarter, exceeding analyst expectations and reflecting a 34.5% revenue growth compared to the previous year.
• The company announced a quarterly dividend of $0.60, representing an annualized dividend yield of 0.9%, with a low payout ratio of 17.11%.

XTX Topco Ltd reduced its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 88.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,251 shares of the Wireless communications provider's stock after selling 9,344 shares during the period. XTX Topco Ltd's holdings in InterDigital were worth $259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Elequin Capital LP bought a new stake in InterDigital in the 4th quarter valued at about $29,000. Wayfinding Financial LLC bought a new stake in shares of InterDigital during the first quarter valued at about $32,000. Concord Wealth Partners bought a new stake in shares of InterDigital during the first quarter valued at about $37,000. Versant Capital Management Inc increased its position 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 valued at $42,000 after buying an additional 182 shares during the period. Finally, Transce3nd LLC bought a new stake in shares of InterDigital during the fourth quarter valued at about $110,000. 99.83% of the stock is currently owned by institutional investors.

InterDigital Price Performance

Shares of IDCC traded down $1.01 during midday trading on Friday, hitting $268.74. 157,015 shares of the company traded hands, compared to its average volume of 295,869. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96. The stock has a 50-day moving average of $235.97 and a 200-day moving average of $217.79. The firm has a market cap of $6.93 billion, a P/E ratio of 19.15, a PEG ratio of 1.64 and a beta of 1.37. InterDigital, Inc. has a one year low of $129.76 and a one year high of $277.95.

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

InterDigital Dividend Announcement

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 $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 annualized dividend and a yield of 0.9%. InterDigital's dividend payout ratio is currently 17.11%.

Insiders Place Their Bets

In other InterDigital news, 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 value of $176,459.08. Following the completion of the sale, the director owned 3,128 shares of the company's stock, valued at $708,554.56. This represents a 19.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Kritzmacher sold 519 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.65, for a total value of $117,631.35. Following the completion of the sale, the director directly owned 19,774 shares of the company's stock, valued at approximately $4,481,777.10. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,062 shares of company stock valued at $920,853 over the last 90 days. Company insiders own 2.80% of the company's stock.

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.