International Assets Investment Management LLC Makes New Investment in InterDigital, Inc. (NASDAQ:IDCC)

International Assets Investment Management LLC acquired a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 83,033 shares of the Wireless communications provider’s stock, valued at approximately $9,012,000. International Assets Investment Management LLC owned about 0.32% of InterDigital at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in shares of InterDigital during the 2nd quarter worth about $39,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of InterDigital during the 3rd quarter worth about $68,000. Parkside Financial Bank & Trust grew its position in shares of InterDigital by 12.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after buying an additional 114 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of InterDigital by 12.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after buying an additional 143 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of InterDigital during the 2nd quarter worth about $132,000. 99.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IDCC has been the subject of several analyst reports. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America restated an “underperform” rating and set a $100.00 target price (down from $140.00) on shares of InterDigital in a research report on Monday, April 1st.

Insider Transactions at InterDigital

In other news, insider Joshua D. Schmidt sold 336 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $107.74, for a total transaction of $36,200.64. Following the completion of the transaction, the insider now directly owns 18,267 shares of the company’s stock, valued at approximately $1,968,086.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the transaction, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joshua D. Schmidt sold 336 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $107.74, for a total transaction of $36,200.64. Following the transaction, the insider now directly owns 18,267 shares of the company’s stock, valued at $1,968,086.58. The disclosure for this sale can be found here. Insiders sold 1,685 shares of company stock valued at $165,108 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

InterDigital Price Performance

NASDAQ IDCC opened at $96.55 on Friday. The business has a 50 day simple moving average of $104.39 and a 200 day simple moving average of $98.81. InterDigital, Inc. has a 52-week low of $66.82 and a 52-week high of $119.86. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.79 and a beta of 1.34.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The business had revenue of $105.52 million during the quarter, compared to analysts’ expectations of $104.31 million. Analysts anticipate that InterDigital, Inc. will post 7.13 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.66%. InterDigital’s payout ratio is 21.33%.

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.