9,900 Shares in InterDigital, Inc. (NASDAQ:IDCC) Acquired by Strs Ohio

Strs Ohio acquired a new position in InterDigital, Inc. (NASDAQ:IDCC) in the 4th quarter, HoldingsChannel reports. The firm acquired 9,900 shares of the Wireless communications provider’s stock, valued at approximately $1,074,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IDCC. Pacer Advisors Inc. raised its stake 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 purchasing an additional 792,868 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of InterDigital in the fourth quarter worth approximately $9,012,000. Vanguard Group Inc. raised its stake in shares of InterDigital by 2.2% in the third quarter. Vanguard Group Inc. now owns 3,343,395 shares of the Wireless communications provider’s stock worth $268,274,000 after purchasing an additional 72,720 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of InterDigital by 7.4% in the third quarter. Boston Trust Walden Corp now owns 666,935 shares of the Wireless communications provider’s stock worth $53,515,000 after purchasing an additional 46,181 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of InterDigital by 125.2% in the third quarter. Qube Research & Technologies Ltd now owns 58,915 shares of the Wireless communications provider’s stock worth $4,727,000 after purchasing an additional 32,750 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the transaction, 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 is available through the SEC website. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the transaction, 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 is available through the SEC website. Also, 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 value of $66,943.23. Following the transaction, 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 Stock Performance

IDCC stock opened at $98.93 on Wednesday. The firm has a market cap of $2.52 billion, a PE ratio of 13.19, a P/E/G ratio of 0.79 and a beta of 1.34. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $103.50 and a 200-day moving average of $99.76. InterDigital, Inc. has a 12-month low of $66.82 and a 12-month high of $119.86.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share 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 business had revenue of $105.52 million during the quarter, compared to analyst estimates of $104.31 million. As a group, sell-side analysts expect that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders 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 yield of 1.62%. The ex-dividend date is Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is 21.33%.

Analyst Upgrades and Downgrades

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

InterDigital 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.