Victory Capital Management Inc. Has $3.24 Million Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Victory Capital Management Inc. grew its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,757 shares of the Wireless communications provider’s stock after purchasing an additional 2,595 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of InterDigital worth $3,235,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IDCC. Avantax Advisory Services Inc. acquired a new position in shares of InterDigital during the 4th quarter worth approximately $224,000. Quadrant Capital Group LLC lifted its position in shares of InterDigital by 11.6% during the 4th quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock worth $107,000 after buying an additional 103 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of InterDigital by 13.8% during the 4th quarter. Brown Advisory Inc. now owns 41,922 shares of the Wireless communications provider’s stock worth $4,550,000 after buying an additional 5,083 shares during the last quarter. Norges Bank acquired a new position in InterDigital in the 4th quarter worth about $18,987,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in InterDigital in the 4th quarter valued at approximately $912,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Trading Down 0.5 %

IDCC opened at $135.30 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market capitalization of $3.41 billion, a PE ratio of 19.90, a P/E/G ratio of 0.84 and a beta of 1.39. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $140.60. The company’s 50-day moving average is $130.99 and its 200 day moving average is $115.74.

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

InterDigital Increases Dividend

The business 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. This is an increase from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Wednesday, October 9th. InterDigital’s dividend payout ratio is currently 26.47%.

Insider Activity

In related news, Director Derek K. Aberle sold 2,005 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the transaction, the director now directly owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, August 22nd. Roth Mkm lifted their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

InterDigital 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.