Louisiana State Employees Retirement System Purchases New Position in InterDigital, Inc. (NASDAQ:IDCC)

Louisiana State Employees Retirement System purchased a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,900 shares of the Wireless communications provider’s stock, valued at approximately $1,400,000.

A number of other institutional investors also recently modified their holdings of IDCC. Point72 Asset Management L.P. purchased a new stake in InterDigital in the 2nd quarter worth approximately $39,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in InterDigital in the 3rd quarter worth approximately $68,000. Parkside Financial Bank & Trust lifted its stake in InterDigital by 12.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after purchasing an additional 114 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in InterDigital by 12.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after purchasing an additional 143 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in InterDigital in the 2nd quarter worth approximately $132,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at InterDigital

In related news, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction 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 transaction, the insider now owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the sale, the chief technology officer now owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was 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 approximately $2,871,567.68. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $96.63 on Monday. The company’s fifty day moving average price is $103.69 and its 200-day moving average price is $99.50. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.78 and a beta of 1.34. InterDigital, Inc. has a one year low of $66.82 and a one year high of $119.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results 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. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. The firm had revenue of $105.52 million for the quarter, compared to analyst estimates of $104.31 million. On average, equities research analysts anticipate that InterDigital, Inc. will post 7.02 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, April 9th. InterDigital’s dividend payout ratio is currently 21.33%.

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.