Mackenzie Financial Corp Acquires Shares of 16,416 InterDigital, Inc. (NASDAQ:IDCC)

Mackenzie Financial Corp acquired a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 16,416 shares of the Wireless communications provider’s stock, valued at approximately $1,782,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in InterDigital during the third quarter valued at about $68,000. Parkside Financial Bank & Trust lifted its holdings 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 holdings 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. Larson Financial Group LLC lifted its holdings in shares of InterDigital by 14.7% in the third quarter. Larson Financial Group LLC now owns 2,165 shares of the Wireless communications provider’s stock worth $174,000 after buying an additional 278 shares in the last quarter. Finally, Precision Wealth Strategies LLC purchased a new stake in shares of InterDigital in the third quarter worth about $203,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the 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 transaction, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The sale was disclosed in a document filed 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 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 transaction, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The sale was disclosed in a document filed 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 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 transaction, the chief technology officer now owns 64,939 shares in the company, valued at $6,190,634.87. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

InterDigital Trading Up 1.1 %

Shares of IDCC opened at $98.93 on Wednesday. The firm’s 50 day simple moving average is $103.50 and its 200 day simple moving average is $99.76. The company has a market capitalization of $2.52 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.79 and a beta of 1.34. 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, Inc. has a 1-year low of $66.82 and a 1-year high of $119.86.

InterDigital (NASDAQ:IDCC) last announced its earnings results 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 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%. Sell-side analysts forecast that InterDigital, Inc. will post 7.02 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Tuesday, April 9th. InterDigital’s dividend payout ratio is currently 21.33%.

Wall Street Analyst Weigh In

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

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.