Public Employees Retirement Association of Colorado Sells 271 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Public Employees Retirement Association of Colorado lessened its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 8.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,812 shares of the Wireless communications provider’s stock after selling 271 shares during the period. Public Employees Retirement Association of Colorado’s holdings in InterDigital were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in IDCC. Intech Investment Management LLC bought a new position in InterDigital in the 2nd quarter worth approximately $457,000. Inspire Investing LLC lifted its position in InterDigital by 19.1% during the second quarter. Inspire Investing LLC now owns 13,884 shares of the Wireless communications provider’s stock valued at $1,618,000 after purchasing an additional 2,224 shares during the last quarter. Hsbc Holdings PLC lifted its position in InterDigital by 2.0% during the second quarter. Hsbc Holdings PLC now owns 8,461 shares of the Wireless communications provider’s stock valued at $988,000 after purchasing an additional 168 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of InterDigital by 38.7% in the 2nd quarter. Edgestream Partners L.P. now owns 18,533 shares of the Wireless communications provider’s stock worth $2,160,000 after buying an additional 5,172 shares in the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of InterDigital in the 2nd quarter worth about $2,510,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Insiders Place Their Bets

In other news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the transaction, the director now directly owns 7,639 shares in the company, valued at $1,026,681.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the sale, the director now owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares in the company, valued at $2,813,102.88. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

InterDigital Stock Up 1.9 %

Shares of NASDAQ IDCC opened at $141.05 on Friday. The company has a market cap of $3.56 billion, a P/E ratio of 20.74, a PEG ratio of 0.88 and a beta of 1.39. The firm has a 50-day simple moving average of $133.81 and a two-hundred day simple moving average of $117.59. InterDigital, Inc. has a 1 year low of $74.65 and a 1 year high of $141.76. 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 posted its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, topping the consensus estimate of $0.43 by $3.77. The company had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. Research analysts anticipate that InterDigital, Inc. will post 9.05 earnings per share for the current year.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be paid 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 1.28%. InterDigital’s dividend payout ratio is 26.47%.

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.