Squarepoint Ops LLC Reduces Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Squarepoint Ops LLC reduced its stake in InterDigital, Inc. (NASDAQ:IDCC) by 17.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,958 shares of the Wireless communications provider’s stock after selling 4,496 shares during the period. Squarepoint Ops LLC owned 0.08% of InterDigital worth $2,443,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in IDCC. Pacer Advisors Inc. increased its stake in InterDigital by 51,337.0% in the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock valued at $86,635,000 after purchasing an additional 741,820 shares during the last quarter. Emerald Advisers LLC grew its position in shares of InterDigital by 127,997.9% during the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after acquiring an additional 120,318 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its position in shares of InterDigital by 473.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock worth $11,244,000 after acquiring an additional 79,648 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of InterDigital by 164.2% during the second quarter. Envestnet Asset Management Inc. now owns 117,826 shares of the Wireless communications provider’s stock worth $13,734,000 after acquiring an additional 73,227 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of InterDigital by 1,245.3% during the first quarter. Commonwealth Equity Services LLC now owns 61,735 shares of the Wireless communications provider’s stock worth $6,572,000 after acquiring an additional 57,146 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $144.83 on Thursday. 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 stock has a fifty day moving average price of $134.56 and a 200 day moving average price of $118.32. InterDigital, Inc. has a 1-year low of $74.65 and a 1-year high of $145.48. The company has a market cap of $3.65 billion, a PE ratio of 21.30, a P/E/G ratio of 0.88 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share 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 the consensus estimate of $95.63 million. Sell-side analysts forecast that InterDigital, Inc. will post 9.05 EPS for the current year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.24%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio (DPR) is 26.47%.

Insider Buying and Selling at InterDigital

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

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.