Prelude Capital Management LLC Takes $293,000 Position in InterDigital, Inc. (NASDAQ:IDCC)

Prelude Capital Management LLC purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,026 shares of the Wireless communications provider’s stock, valued at approximately $293,000.

Other large investors have also recently bought and sold shares of the company. Ronald Blue Trust Inc. increased its holdings in shares of InterDigital by 17.6% during the first quarter. Ronald Blue Trust Inc. now owns 1,174 shares of the Wireless communications provider’s stock worth $58,000 after purchasing an additional 176 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of InterDigital by 1.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,909 shares of the Wireless communications provider’s stock worth $967,000 after acquiring an additional 214 shares in the last quarter. Arizona State Retirement System boosted its position in shares of InterDigital by 2.7% during the 1st quarter. Arizona State Retirement System now owns 8,595 shares of the Wireless communications provider’s stock worth $627,000 after acquiring an additional 226 shares in the last quarter. Creative Planning boosted its position in shares of InterDigital by 2.3% during the 4th quarter. Creative Planning now owns 10,087 shares of the Wireless communications provider’s stock worth $499,000 after acquiring an additional 229 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of InterDigital by 8.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,852 shares of the Wireless communications provider’s stock worth $141,000 after acquiring an additional 234 shares in the last quarter. 94.98% of the stock is owned by institutional investors.

Insider Transactions at InterDigital

In related news, insider Eric Cohen sold 4,329 shares of InterDigital stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $96.13, for a total transaction of $416,146.77. Following the completion of the transaction, the insider now owns 25,959 shares of the company’s stock, valued at $2,495,438.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Eric Cohen sold 4,329 shares of InterDigital stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $96.13, for a total transaction of $416,146.77. Following the completion of the transaction, the insider now owns 25,959 shares of the company’s stock, valued at $2,495,438.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $85.33, for a total transaction of $55,464.50. Following the transaction, the chief technology officer now directly owns 58,834 shares of the company’s stock, valued at approximately $5,020,305.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,343 shares of company stock worth $502,013. Company insiders own 1.50% of the company’s stock.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $82.47 on Tuesday. The firm has a market cap of $2.18 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.87 and a beta of 1.24. The firm’s fifty day moving average is $87.20 and its 200-day moving average is $82.65. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.67 and a current ratio of 2.67. InterDigital, Inc. has a 52 week low of $40.23 and a 52 week high of $98.69.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.12. The company had revenue of $101.59 million for the quarter, compared to analyst estimates of $101.22 million. InterDigital had a net margin of 33.91% and a return on equity of 30.22%. Sell-side analysts predict that InterDigital, Inc. will post 6.84 earnings per share for the current year.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, October 10th. This is a positive change from InterDigital’s previous quarterly dividend of $0.35. InterDigital’s payout ratio is 22.62%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IDCC. William Blair began coverage on shares of InterDigital in a research report on Tuesday, August 22nd. They issued an “outperform” rating on the stock. StockNews.com began coverage on shares of InterDigital in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, InterDigital currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

InterDigital Profile

InterDigital, Inc, together with its subsidiaries, designs and develops technologies that enable and enhance wireless communications in the United States, China, South Korea, Japan, Taiwan, and Europe. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.