SG Americas Securities LLC Purchases Shares of 2,946 InterDigital, Inc. (NASDAQ:IDCC)

SG Americas Securities LLC purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,946 shares of the Wireless communications provider’s stock, valued at approximately $417,000.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of InterDigital by 16.1% during the 4th quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after buying an additional 10,926 shares during the last quarter. Duality Advisers LP lifted its stake in shares of InterDigital by 1,380.5% during the 1st quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock worth $3,441,000 after buying an additional 30,137 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of InterDigital by 35.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,503 shares of the Wireless communications provider’s stock worth $3,780,000 after buying an additional 9,263 shares during the last quarter. Edgestream Partners L.P. lifted its stake in shares of InterDigital by 118.5% during the 1st quarter. Edgestream Partners L.P. now owns 13,361 shares of the Wireless communications provider’s stock worth $1,422,000 after buying an additional 7,245 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of InterDigital by 294,025.0% during the 1st quarter. Russell Investments Group Ltd. now owns 11,765 shares of the Wireless communications provider’s stock worth $1,253,000 after buying an additional 11,761 shares during the last quarter. 99.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IDCC shares. 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 note on Wednesday, September 11th. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Tuesday.

InterDigital Price Performance

Shares of InterDigital stock opened at $155.69 on Friday. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $157.50. 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 company has a 50-day simple moving average of $139.52 and a two-hundred day simple moving average of $121.87. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 0.94 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data 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 net margin of 37.99% and a return on equity of 44.57%. The business had revenue of $223.49 million during the quarter, compared to analysts’ expectations of $95.63 million. Analysts forecast 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. Stockholders of record on Wednesday, October 9th will be given a $0.45 dividend. The ex-dividend date is Wednesday, October 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. InterDigital’s payout ratio is presently 26.47%.

Insider Activity

In other news, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the transaction, the director now directly owns 7,639 shares in the company, valued at approximately $1,026,681.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the transaction, the director now directly owns 7,639 shares in the company, valued at approximately $1,026,681.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is currently owned by corporate insiders.

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.