Mirae Asset Global Investments Co. Ltd. Decreases Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Mirae Asset Global Investments Co. Ltd. reduced its position in InterDigital, Inc. (NASDAQ:IDCC) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,931 shares of the Wireless communications provider’s stock after selling 3,418 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.25% of InterDigital worth $7,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of IDCC. New York State Teachers Retirement System boosted its holdings in shares of InterDigital by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 28,896 shares of the Wireless communications provider’s stock worth $3,136,000 after acquiring an additional 262 shares during the period. International Assets Investment Management LLC bought a new position in shares of InterDigital in the fourth quarter worth $9,012,000. Asset Management One Co. Ltd. boosted its holdings in shares of InterDigital by 13.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 35,089 shares of the Wireless communications provider’s stock worth $3,840,000 after acquiring an additional 4,180 shares during the period. Claro Advisors LLC boosted its holdings in shares of InterDigital by 10.3% in the fourth quarter. Claro Advisors LLC now owns 11,030 shares of the Wireless communications provider’s stock worth $1,197,000 after acquiring an additional 1,030 shares during the period. Finally, AlphaMark Advisors LLC boosted its holdings in shares of InterDigital by 4.3% in the fourth quarter. AlphaMark Advisors LLC now owns 3,038 shares of the Wireless communications provider’s stock worth $330,000 after acquiring an additional 125 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on IDCC. Bank of America reissued an “underperform” rating and set a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th.

InterDigital Price Performance

NASDAQ:IDCC opened at $96.55 on Friday. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.79 and a beta of 1.34. InterDigital, Inc. has a 52-week low of $66.82 and a 52-week high of $119.86. The stock has a fifty day moving average of $104.39 and a 200 day moving average of $98.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The company had revenue of $105.52 million during the quarter, compared to analyst estimates of $104.31 million. On average, research analysts expect that InterDigital, Inc. will post 7.13 EPS for the current fiscal year.

InterDigital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be given 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%.

Insider Buying and Selling at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the sale, the chief technology officer now owns 64,939 shares in the company, valued at $6,190,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the transaction, the chief technology officer now owns 64,939 shares in the company, valued at $6,190,634.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the transaction, the insider now owns 29,984 shares in the company, valued at approximately $2,871,567.68. The disclosure for this sale can be found here. Insiders have sold 1,685 shares of company stock worth $165,108 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

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.