International Assets Investment Management LLC Acquires New Position in InterDigital, Inc. (NASDAQ:IDCC)

International Assets Investment Management LLC purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 83,033 shares of the Wireless communications provider's stock, valued at approximately $9,012,000. International Assets Investment Management LLC owned approximately 0.32% of InterDigital at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IDCC. Advisor Group Holdings Inc. boosted its position in InterDigital by 24.5% in the first quarter. Advisor Group Holdings Inc. now owns 5,751 shares of the Wireless communications provider's stock valued at $358,000 after buying an additional 1,133 shares in the last quarter. JPMorgan Chase & Co. boosted its position in InterDigital by 44.5% in the first quarter. JPMorgan Chase & Co. now owns 68,729 shares of the Wireless communications provider's stock valued at $4,385,000 after buying an additional 21,169 shares in the last quarter. MetLife Investment Management LLC boosted its position in InterDigital by 55.6% in the first quarter. MetLife Investment Management LLC now owns 16,043 shares of the Wireless communications provider's stock valued at $1,024,000 after buying an additional 5,731 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of InterDigital by 2.7% during the first quarter. Rhumbline Advisers now owns 91,875 shares of the Wireless communications provider's stock worth $5,862,000 after purchasing an additional 2,458 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of InterDigital by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,447 shares of the Wireless communications provider's stock worth $1,687,000 after purchasing an additional 3,260 shares during the period. Institutional investors and hedge funds own 99.83% of the company's stock.

InterDigital Stock Down 1.1 %

IDCC traded down $1.09 during midday trading on Friday, hitting $96.55. The company had a trading volume of 389,857 shares, compared to its average volume of 682,248. InterDigital, Inc. has a 52 week low of $66.82 and a 52 week high of $119.86. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.78 and a beta of 1.34. The stock's 50 day moving average price is $104.39 and its 200 day moving average price is $98.94.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. The company had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. On average, research analysts anticipate that InterDigital, Inc. will post 7.13 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, April 9th. InterDigital's payout ratio is 21.33%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America reiterated an "underperform" rating and set a $100.00 price target (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com lowered shares of InterDigital from a "buy" rating to a "hold" rating in a report on Tuesday, March 19th.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 336 shares of the business's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $107.74, for a total value of $36,200.64. Following the transaction, the insider now directly owns 18,267 shares in the company, valued at $1,968,086.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Eeva K. Hakoranta sold 699 shares of the business's stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total value of $66,943.23. Following the sale, the insider now owns 29,984 shares of the company's stock, valued at $2,871,567.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joshua D. Schmidt sold 336 shares of the business's stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $107.74, for a total transaction of $36,200.64. Following the completion of the sale, the insider now directly owns 18,267 shares in the company, valued at approximately $1,968,086.58. The disclosure for this sale can be found here. Insiders have sold a total of 1,685 shares of company stock worth $165,108 over the last three months. 1.50% of the stock is currently owned by insiders.

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.