Allspring Global Investments Holdings LLC Has $2.85 Million Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Allspring Global Investments Holdings LLC grew its stake in InterDigital, Inc. (NASDAQ:IDCC) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,240 shares of the Wireless communications provider’s stock after buying an additional 815 shares during the period. Allspring Global Investments Holdings LLC’s holdings in InterDigital were worth $2,848,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IDCC. Pacer Advisors Inc. lifted its position in shares of InterDigital by 220.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after buying an additional 792,868 shares during the last quarter. Norges Bank acquired a new stake in shares of InterDigital in the fourth quarter worth about $14,439,000. Marshall Wace LLP acquired a new stake in shares of InterDigital in the second quarter worth about $16,076,000. Two Sigma Investments LP acquired a new stake in shares of InterDigital in the first quarter worth about $6,199,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of InterDigital in the fourth quarter worth about $9,012,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insider Activity at InterDigital

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Bank of America reaffirmed an “underperform” rating and issued a $100.00 price target (down previously from $140.00) on shares of InterDigital in a research report 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 Trading Up 1.0 %

InterDigital stock opened at $96.63 on Friday. 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 business’s 50-day simple moving average is $103.69 and its 200-day simple moving average is $99.37. The firm has a market capitalization of $2.46 billion, a PE ratio of 12.88, a PEG ratio of 0.77 and a beta of 1.34. InterDigital, Inc. has a 52 week low of $66.82 and a 52 week high of $119.86.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS 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 analyst estimates of $104.31 million. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. Equities research analysts forecast that InterDigital, Inc. will post 7.13 earnings per share for the current year.

InterDigital Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.66%. InterDigital’s dividend 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.