PFG Investments LLC Purchases New Holdings in InterDigital, Inc. (NASDAQ:IDCC)

PFG Investments LLC acquired a new position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,755 shares of the Wireless communications provider's stock, valued at approximately $1,784,000. PFG Investments LLC owned 0.07% of InterDigital as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Riverwater Partners LLC grew its stake in shares of InterDigital by 0.7% in the 4th quarter. Riverwater Partners LLC now owns 13,555 shares of the Wireless communications provider's stock worth $1,471,000 after buying an additional 96 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of InterDigital by 11.6% in the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider's stock worth $107,000 after acquiring an additional 103 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of InterDigital by 12.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider's stock valued at $84,000 after acquiring an additional 114 shares in the last quarter. AlphaMark Advisors LLC raised its position in shares of InterDigital by 4.3% in the 4th quarter. AlphaMark Advisors LLC now owns 3,038 shares of the Wireless communications provider's stock worth $330,000 after purchasing an additional 125 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in InterDigital by 12.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider's stock valued at $104,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 99.83% of the company's stock.

Insider Buying and Selling

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

InterDigital Stock Performance

NASDAQ:IDCC traded up $0.80 during mid-day trading on Friday, reaching $100.71. The company's stock had a trading volume of 360,766 shares, compared to its average volume of 556,761. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.56 billion, a P/E ratio of 13.43, a PEG ratio of 0.82 and a beta of 1.34. The firm's fifty day moving average price is $102.74 and its two-hundred day moving average price is $100.03. InterDigital, Inc. has a 12-month low of $66.82 and a 12-month high of $119.86.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. The firm had revenue of $105.52 million during the quarter, compared to analyst estimates 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 7.02 EPS for the current fiscal year.

InterDigital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were paid a $0.40 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. InterDigital's dividend payout ratio (DPR) is currently 21.33%.

Analyst Ratings Changes

Several research analysts have issued reports on IDCC shares. Bank of America reaffirmed an "underperform" rating and issued a $100.00 target price (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com cut InterDigital from a "buy" rating to a "hold" rating in a research report on Tuesday, March 19th.

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.

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