TD Asset Management Inc Sells 6,100 Shares of InterDigital, Inc. (NASDAQ:IDCC)

TD Asset Management Inc trimmed its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 56.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,800 shares of the Wireless communications provider’s stock after selling 6,100 shares during the quarter. TD Asset Management Inc’s holdings in InterDigital were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of IDCC. Guidance Capital Inc. boosted its holdings in InterDigital by 9.2% in the 2nd quarter. Guidance Capital Inc. now owns 4,553 shares of the Wireless communications provider’s stock valued at $559,000 after purchasing an additional 382 shares during the period. Ritholtz Wealth Management lifted its stake in shares of InterDigital by 8.9% in the second quarter. Ritholtz Wealth Management now owns 20,941 shares of the Wireless communications provider’s stock valued at $2,441,000 after buying an additional 1,712 shares during the period. Arkadios Wealth Advisors grew its position in InterDigital by 46.6% during the second quarter. Arkadios Wealth Advisors now owns 2,868 shares of the Wireless communications provider’s stock worth $334,000 after buying an additional 912 shares in the last quarter. Burney Co. increased its stake in InterDigital by 7.2% during the second quarter. Burney Co. now owns 2,102 shares of the Wireless communications provider’s stock valued at $245,000 after acquiring an additional 141 shares during the period. Finally, Miller Howard Investments Inc. NY raised its holdings in InterDigital by 2.0% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock valued at $536,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Trading Up 2.7 %

Shares of IDCC opened at $135.99 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.42 billion, a PE ratio of 20.00, a PEG ratio of 0.84 and a beta of 1.39. InterDigital, Inc. has a 1 year low of $74.65 and a 1 year high of $140.60. The stock has a 50 day simple moving average of $130.71 and a 200-day simple moving average of $115.54.

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

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a $0.45 dividend. The ex-dividend date of this dividend 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 yield of 1.32%. InterDigital’s payout ratio is 23.53%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Roth Mkm boosted their price objective on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, August 22nd.

Insider Transactions at InterDigital

In other news, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the transaction, the director now directly owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

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.