Arkadios Wealth Advisors Buys 912 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Arkadios Wealth Advisors increased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 46.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,868 shares of the Wireless communications provider’s stock after buying an additional 912 shares during the period. Arkadios Wealth Advisors’ holdings in InterDigital were worth $334,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Burney Co. raised its stake in InterDigital by 7.2% in the 2nd quarter. Burney Co. now owns 2,102 shares of the Wireless communications provider’s stock worth $245,000 after purchasing an additional 141 shares in the last quarter. Miller Howard Investments Inc. NY raised its stake 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 worth $536,000 after purchasing an additional 90 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in InterDigital in the 2nd quarter worth about $29,000. Oak Family Advisors LLC acquired a new stake in InterDigital in the 2nd quarter worth about $571,000. Finally, Nisa Investment Advisors LLC raised its stake in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IDCC shares. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, August 22nd. Jefferies Financial Group reiterated a “hold” rating and issued a $100.00 price objective (down previously from $106.00) on shares of InterDigital in a research note on Monday, May 13th.

Insider Activity

In related news, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total transaction of $86,460.00. Following the completion of the transaction, the director now directly owns 12,202 shares in the company, valued at approximately $1,406,646.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total transaction of $86,460.00. Following the completion of the transaction, the director now directly owns 12,202 shares in the company, valued at approximately $1,406,646.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of the company’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 transaction of $269,472.00. Following the transaction, the director now owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $138.56 on Friday. The firm has a 50 day moving average of $127.43 and a 200-day moving average of $113.79. The stock has a market capitalization of $3.50 billion, a PE ratio of 20.38, a PEG ratio of 1.18 and a beta of 1.42. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.11. InterDigital, Inc. has a 12 month low of $74.65 and a 12 month high of $140.60.

InterDigital (NASDAQ:IDCC) last issued its earnings results 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. The company had revenue of $223.49 million during the quarter, compared to analysts’ expectations of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. On average, equities research analysts predict that InterDigital, Inc. will post 6.64 EPS for the current fiscal year.

InterDigital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Wednesday, July 10th. InterDigital’s payout ratio is presently 23.53%.

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.