Arizona State Retirement System Sells 233 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Arizona State Retirement System lessened its position in InterDigital, Inc. (NASDAQ:IDCC) by 3.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,382 shares of the Wireless communications provider’s stock after selling 233 shares during the period. Arizona State Retirement System’s holdings in InterDigital were worth $801,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of InterDigital in the second quarter worth approximately $39,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of InterDigital in the third quarter worth approximately $68,000. Parkside Financial Bank & Trust lifted its stake in shares of InterDigital by 12.2% in the third 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 in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of InterDigital by 12.6% in the third 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 in the last quarter. Finally, Cohen Klingenstein LLC bought a new position in shares of InterDigital in the fourth quarter worth approximately $230,000. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Down 0.8 %

Shares of InterDigital stock opened at $96.01 on Thursday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34. The company’s 50 day moving average is $104.01 and its 200 day moving average is $99.15. InterDigital, Inc. has a twelve month low of $66.82 and a twelve month high of $119.86. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The company 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%. Research analysts anticipate that InterDigital, Inc. will post 7.13 EPS for the current year.

InterDigital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors 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 1.67%. InterDigital’s dividend payout ratio (DPR) is 21.33%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at InterDigital

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

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.