InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 30.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 28,187 shares of the Wireless communications provider’s stock after selling 12,427 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in InterDigital were worth $3,285,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of InterDigital by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock worth $344,370,000 after acquiring an additional 17,238 shares in the last quarter. Norges Bank purchased a new stake in shares of InterDigital during the fourth quarter valued at $18,987,000. Principal Financial Group Inc. boosted its holdings 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 worth $16,094,000 after buying an additional 1,758 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of InterDigital in the fourth quarter worth approximately $13,309,000. Finally, Emerald Advisers LLC raised its holdings 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 valued at $14,035,000 after acquiring an additional 120,318 shares during the period. Institutional investors own 99.83% of the company’s stock.

InterDigital Trading Up 0.5 %

InterDigital stock opened at $138.55 on Friday. InterDigital, Inc. has a 12 month low of $74.65 and a 12 month high of $140.86. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.50 billion, a P/E ratio of 20.38, a P/E/G ratio of 0.84 and a beta of 1.39. The company’s fifty day simple moving average is $132.20 and its 200-day simple moving average is $116.52.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. As a group, sell-side analysts forecast that InterDigital, Inc. will post 9.05 EPS for the current fiscal 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 given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.30%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 9th. InterDigital’s dividend payout ratio is presently 26.47%.

Insider Buying and Selling at InterDigital

In other 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 transaction, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

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

InterDigital Company 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.