Louisiana State Employees Retirement System Acquires Shares of 12,900 InterDigital, Inc. (NASDAQ:IDCC)

Louisiana State Employees Retirement System purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,900 shares of the Wireless communications provider's stock, valued at approximately $1,400,000. Louisiana State Employees Retirement System owned about 0.05% of InterDigital as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ritholtz Wealth Management grew its position in InterDigital by 26.1% during the third quarter. Ritholtz Wealth Management now owns 9,432 shares of the Wireless communications provider's stock worth $757,000 after buying an additional 1,955 shares in the last quarter. Essex LLC acquired a new stake in InterDigital during the third quarter worth about $307,000. 1900 Wealth Management LLC acquired a new stake in InterDigital during the third quarter worth about $391,000. Boston Trust Walden Corp grew its position in InterDigital by 7.4% during the third quarter. Boston Trust Walden Corp now owns 666,935 shares of the Wireless communications provider's stock worth $53,515,000 after buying an additional 46,181 shares in the last quarter. Finally, Riverwater Partners LLC grew its position in InterDigital by 147.0% during the third quarter. Riverwater Partners LLC now owns 13,459 shares of the Wireless communications provider's stock worth $1,080,000 after buying an additional 8,011 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on IDCC. StockNews.com cut shares of InterDigital from a "buy" rating to a "hold" rating in a research note on Tuesday, March 19th. Bank of America restated an "underperform" rating and set a $100.00 price target (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st.

InterDigital Price Performance

Shares of NASDAQ:IDCC traded up $1.27 during trading on Monday, reaching $97.90. The stock had a trading volume of 672,085 shares, compared to its average volume of 498,286. InterDigital, Inc. has a 52 week low of $66.82 and a 52 week high of $119.86. The business's 50-day moving average price is $103.57 and its 200 day moving average price is $99.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $2.50 billion, a PE ratio of 13.05, a P/E/G ratio of 0.79 and a beta of 1.34.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $104.31 million. As a group, equities analysts predict that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, April 9th. InterDigital's dividend payout ratio (DPR) is presently 21.33%.

Insider Buying and Selling

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