InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC – Get Rating) by 31.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,626 shares of the Wireless communications provider’s stock after selling 2,535 shares during the period. Hsbc Holdings PLC’s holdings in InterDigital were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Huntington National Bank increased its stake in InterDigital by 602,700.0% during the 3rd quarter. Huntington National Bank now owns 6,028 shares of the Wireless communications provider’s stock valued at $244,000 after buying an additional 6,027 shares during the period. Boston Trust Walden Corp increased its stake in shares of InterDigital by 33.6% during the third quarter. Boston Trust Walden Corp now owns 543,536 shares of the Wireless communications provider’s stock valued at $21,970,000 after acquiring an additional 136,772 shares during the period. SG Americas Securities LLC raised its holdings in InterDigital by 89.8% during the third quarter. SG Americas Securities LLC now owns 22,207 shares of the Wireless communications provider’s stock worth $898,000 after purchasing an additional 10,505 shares in the last quarter. Lazard Asset Management LLC boosted its stake in InterDigital by 49.0% during the 2nd quarter. Lazard Asset Management LLC now owns 1,998 shares of the Wireless communications provider’s stock valued at $121,000 after purchasing an additional 657 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of InterDigital by 382,036.4% during the 3rd quarter. Pacer Advisors Inc. now owns 84,070 shares of the Wireless communications provider’s stock valued at $3,398,000 after purchasing an additional 84,048 shares during the period. 83.97% of the stock is currently owned by institutional investors.

InterDigital Trading Down 0.4 %

Shares of NASDAQ IDCC opened at $73.60 on Friday. InterDigital, Inc. has a 12 month low of $40.23 and a 12 month high of $75.74. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 23.82, a P/E/G ratio of 2.48 and a beta of 1.21. The company has a quick ratio of 4.96, a current ratio of 4.96 and a debt-to-equity ratio of 0.83. The business has a fifty day simple moving average of $68.05 and a 200-day simple moving average of $55.06.

InterDigital (NASDAQ:IDCC – Get Rating) last announced its earnings results on Wednesday, February 15th. The Wireless communications provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.92 by $0.16. InterDigital had a return on equity of 13.02% and a net margin of 20.47%. The business had revenue of $117.10 million during the quarter, compared to the consensus estimate of $113.93 million. During the same period in the prior year, the business posted $0.70 earnings per share. InterDigital’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that InterDigital, Inc. will post 2.61 EPS for the current year.

Insider Activity

In related news, insider Eeva K. Hakoranta sold 766 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $73.05, for a total transaction of $55,956.30. Following the transaction, the insider now directly owns 20,200 shares of the company’s stock, valued at $1,475,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John D. Jr. Markley sold 4,274 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $73.86, for a total transaction of $315,677.64. Following the transaction, the director now directly owns 10,079 shares of the company’s stock, valued at $744,434.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eeva K. Hakoranta sold 766 shares of the company’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $73.05, for a total value of $55,956.30. Following the transaction, the insider now directly owns 20,200 shares in the company, valued at $1,475,610. The disclosure for this sale can be found here. Insiders sold a total of 15,426 shares of company stock valued at $1,137,809 over the last three months. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

IDCC has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on InterDigital in a report on Friday, December 9th. They issued a “buy” rating and a $80.00 price objective for the company. TheStreet upgraded InterDigital from a “c+” rating to a “b” rating in a report on Monday, January 23rd. Finally, William Blair initiated coverage on InterDigital in a report on Thursday, January 26th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, InterDigital presently has an average rating of “Hold” and an average target price of $70.00.

InterDigital Company Profile

(Get Rating)

InterDigital, Inc engages in the design and development of technologies that enable and enhance wireless communications, and capabilities. It focuses on mobile technology and devices, which includes cellular wireless technology, Internet of Things, technology, video coding & transmission, sensor and sensor fusion technology.