Vanguard Group Inc. Lowers Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Vanguard Group Inc. reduced its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,217,502 shares of the Wireless communications provider’s stock after selling 125,893 shares during the quarter. Vanguard Group Inc. owned 0.13% of InterDigital worth $349,228,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IDCC. Pacer Advisors Inc. lifted its stake in shares of InterDigital by 220.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock valued at $125,014,000 after purchasing an additional 792,868 shares during the period. Capital Management Corp VA raised its position in shares of InterDigital by 12.1% in the fourth quarter. Capital Management Corp VA now owns 237,654 shares of the Wireless communications provider’s stock worth $25,795,000 after acquiring an additional 25,601 shares during the period. Norges Bank purchased a new stake in shares of InterDigital during the 4th quarter worth about $18,987,000. Crossmark Global Holdings Inc. acquired a new stake in shares of InterDigital during the 4th quarter valued at about $13,309,000. Finally, Penserra Capital Management LLC increased its stake in shares of InterDigital by 29.0% in the 3rd quarter. Penserra Capital Management LLC now owns 93,106 shares of the Wireless communications provider’s stock valued at $7,470,000 after purchasing an additional 20,906 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Insider Buying and Selling at InterDigital

In other news, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total transaction of $86,460.00. Following the transaction, the director now directly owns 12,202 shares in the company, valued at approximately $1,406,646.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director John D. Jr. Markley sold 750 shares of InterDigital stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total transaction of $86,460.00. Following the transaction, the director now owns 12,202 shares in the company, valued at approximately $1,406,646.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the sale, the chief technology officer now directly owns 64,517 shares of the company’s stock, valued at approximately $6,701,380.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,749 shares of company stock worth $282,883. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on IDCC. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Bank of America reissued an “underperform” rating and issued a $100.00 price target (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. Finally, Jefferies Financial Group restated a “hold” rating and set a $100.00 price objective (down from $106.00) on shares of InterDigital in a research report on Monday, May 13th.

InterDigital Stock Performance

NASDAQ IDCC opened at $116.56 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. The stock’s 50 day simple moving average is $110.29 and its 200-day simple moving average is $106.77. The company has a market cap of $2.94 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.00 and a beta of 1.40. InterDigital, Inc. has a 1-year low of $74.65 and a 1-year high of $119.86.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $0.06. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. The company had revenue of $263.54 million for the quarter, compared to analyst estimates of $250.15 million. As a group, equities research analysts anticipate that InterDigital, Inc. will post 6.65 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.60 annualized dividend and a yield of 1.37%. InterDigital’s dividend payout ratio is presently 23.53%.

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.