InterDigital, Inc. (NASDAQ:IDCC) Position Boosted by New York State Teachers Retirement System

New York State Teachers Retirement System increased its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,896 shares of the Wireless communications provider’s stock after buying an additional 262 shares during the quarter. New York State Teachers Retirement System’s holdings in InterDigital were worth $3,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in InterDigital in the fourth quarter worth approximately $9,012,000. Qube Research & Technologies Ltd lifted its position in shares of InterDigital by 125.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 58,915 shares of the Wireless communications provider’s stock valued at $4,727,000 after acquiring an additional 32,750 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of InterDigital by 220.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock valued at $125,014,000 after acquiring an additional 792,868 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its position in shares of InterDigital by 69.4% during the 3rd quarter. Hussman Strategic Advisors Inc. now owns 26,250 shares of the Wireless communications provider’s stock valued at $2,106,000 after acquiring an additional 10,750 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of InterDigital by 59.2% during the 4th quarter. Ritholtz Wealth Management now owns 15,020 shares of the Wireless communications provider’s stock valued at $1,630,000 after acquiring an additional 5,588 shares during the last quarter. 99.83% of the stock is owned by institutional investors.

InterDigital Trading Down 0.1 %

NASDAQ IDCC opened at $96.42 on Tuesday. InterDigital, Inc. has a 1-year low of $66.82 and a 1-year high of $119.86. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.46 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34. The firm’s fifty day simple moving average is $104.26 and its 200-day simple moving average is $99.05.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $105.52 million for the quarter, compared to the consensus estimate of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. As a group, sell-side 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. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, April 9th. InterDigital’s payout ratio is 21.33%.

Insiders Place Their Bets

In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the sale, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the sale, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction dated 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 sale, the chief technology officer now owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.