Capital Management Corp VA Purchases 25,601 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Capital Management Corp VA grew its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 237,654 shares of the Wireless communications provider's stock after purchasing an additional 25,601 shares during the quarter. InterDigital accounts for about 5.1% of Capital Management Corp VA's holdings, making the stock its 3rd biggest holding. Capital Management Corp VA owned about 0.92% of InterDigital worth $25,795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mackenzie Financial Corp purchased a new position in InterDigital in the fourth quarter worth approximately $1,782,000. Strs Ohio purchased a new position in InterDigital in the fourth quarter worth approximately $1,074,000. Louisiana State Employees Retirement System purchased a new position in InterDigital in the fourth quarter worth approximately $1,400,000. Allspring Global Investments Holdings LLC lifted its stake in InterDigital by 3.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,240 shares of the Wireless communications provider's stock worth $2,848,000 after acquiring an additional 815 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in InterDigital during the fourth quarter worth approximately $9,012,000. Hedge funds and other institutional investors own 99.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IDCC shares. StockNews.com cut shares of InterDigital from a "buy" rating to a "hold" rating in a report on Tuesday, March 19th. Bank of America reissued an "underperform" rating and set a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

Insider Activity

In other news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the transaction, the chief technology officer now directly owns 64,939 shares of the company's stock, valued at approximately $6,190,634.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the transaction, the chief technology officer now directly owns 64,939 shares in the company, valued at approximately $6,190,634.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eeva K. Hakoranta sold 699 shares of the business's stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the sale, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

InterDigital Stock Up 1.0 %

IDCC stock traded up $0.97 during midday trading on Friday, reaching $96.63. 407,477 shares of the company were exchanged, compared to its average volume of 520,358. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33. InterDigital, Inc. has a 1-year low of $66.82 and a 1-year high of $119.86. The stock's 50-day simple moving average is $103.69 and its 200 day simple moving average is $99.37. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.77 and a beta of 1.34.

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

InterDigital Dividend Announcement

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

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.