Handelsbanken Fonder AB Purchases 1,600 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Handelsbanken Fonder AB grew its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 29.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,030 shares of the Wireless communications provider’s stock after purchasing an additional 1,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in InterDigital were worth $996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of InterDigital by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock worth $344,370,000 after purchasing an additional 17,238 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in InterDigital by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider’s stock valued at $127,392,000 after purchasing an additional 10,532 shares during the period. Pacer Advisors Inc. lifted its position in shares of 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 acquiring an additional 741,820 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of InterDigital by 1.2% in the first quarter. Principal Financial Group Inc. now owns 151,173 shares of the Wireless communications provider’s stock valued at $16,094,000 after acquiring an additional 1,758 shares in the last quarter. Finally, Emerald Advisers LLC lifted its position in shares of InterDigital by 127,997.9% in the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock valued at $14,035,000 after acquiring an additional 120,318 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

InterDigital Stock Up 2.3 %

Shares of NASDAQ:IDCC opened at $155.32 on Friday. InterDigital, Inc. has a 52-week low of $74.65 and a 52-week high of $155.64. The stock has a market cap of $3.92 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 0.94 and a beta of 1.39. The business’s 50 day moving average is $138.06 and its 200 day moving average is $120.60. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. The company had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. Sell-side analysts predict that InterDigital, Inc. will post 9.04 EPS for the current year.

InterDigital Increases Dividend

The company also recently announced 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. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. 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 1.16%. InterDigital’s dividend payout ratio (DPR) is 26.47%.

Insider Buying and Selling

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction dated 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 directly owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the transaction, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of the firm’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 directly owns 7,639 shares in the company, valued at $1,026,681.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,205 shares of company stock worth $716,218 in the last 90 days. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on IDCC. 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 cut InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, October 7th.

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.