Caprock Group LLC Buys New Shares in InterDigital, Inc. (NASDAQ:IDCC)

Caprock Group LLC bought a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,899 shares of the Wireless communications provider’s stock, valued at approximately $338,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in InterDigital during the 2nd quarter worth approximately $29,000. Riverview Trust Co purchased a new stake in InterDigital during the first quarter worth about $31,000. GAMMA Investing LLC boosted its holdings in InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 124 shares during the period. Nisa Investment Advisors LLC raised its position in shares of InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after acquiring an additional 109 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in InterDigital in the first quarter valued at $64,000. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Performance

NASDAQ:IDCC opened at $132.45 on Friday. The business has a 50 day moving average of $130.40 and a 200 day moving average of $115.23. InterDigital, Inc. has a 1-year low of $74.65 and a 1-year high of $140.60. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 0.84 and a beta of 1.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. The firm had revenue of $223.49 million during the quarter, compared to analysts’ expectations of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. On average, sell-side analysts predict that InterDigital, Inc. will post 9.05 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.36%. InterDigital’s dividend payout ratio (DPR) is 23.53%.

Insiders Place Their Bets

In other news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the transaction, the director now owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IDCC. Roth Mkm upped their price objective on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, August 22nd.

InterDigital Company 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.