AlphaMark Advisors LLC Decreases Holdings in InterDigital, Inc. (NASDAQ:IDCC)

AlphaMark Advisors LLC cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,805 shares of the Wireless communications provider’s stock after selling 233 shares during the quarter. AlphaMark Advisors LLC’s holdings in InterDigital were worth $299,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in IDCC. Hsbc Holdings PLC increased its stake in shares of InterDigital by 313.0% in the third quarter. Hsbc Holdings PLC now owns 9,015 shares of the Wireless communications provider’s stock worth $722,000 after buying an additional 6,832 shares during the period. O Shaughnessy Asset Management LLC increased its position in InterDigital by 49.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 22,860 shares of the Wireless communications provider’s stock valued at $1,834,000 after purchasing an additional 7,515 shares during the period. Qube Research & Technologies Ltd increased its position in InterDigital by 125.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 58,915 shares of the Wireless communications provider’s stock valued at $4,727,000 after purchasing an additional 32,750 shares during the period. Teza Capital Management LLC purchased a new position in InterDigital during the 3rd quarter valued at $500,000. Finally, EJF Capital LLC grew its position in shares of InterDigital by 32.5% in the 3rd quarter. EJF Capital LLC now owns 8,614 shares of the Wireless communications provider’s stock worth $691,000 after buying an additional 2,114 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on IDCC. Bank of America reaffirmed an “underperform” rating and issued a $100.00 target price (down from $140.00) on shares of InterDigital in a research report on Monday, April 1st. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $100.00 target price (down from $106.00) on shares of InterDigital in a research report on Monday, May 13th.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction that occurred 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 owns 64,939 shares in the company, valued at approximately $6,190,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Eeva K. Hakoranta sold 699 shares of the 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 sale, the insider now directly owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $6,190,634.87. The disclosure for this sale can be found here. Insiders have sold 2,749 shares of company stock worth $282,883 in the last quarter. Company insiders own 2.30% of the company’s stock.

InterDigital Price Performance

IDCC opened at $117.41 on Tuesday. The company’s 50-day simple moving average is $110.66 and its two-hundred day simple moving average is $106.84. InterDigital, Inc. has a 52-week low of $74.65 and a 52-week high of $119.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $2.96 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.01 and a beta of 1.42.

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

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Wednesday, July 10th. InterDigital’s dividend payout ratio (DPR) 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.