Savant Capital LLC Takes Position in InterDigital, Inc. (NASDAQ:IDCC)

Savant Capital LLC purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,080 shares of the Wireless communications provider’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of InterDigital during the 3rd quarter worth about $68,000. Parkside Financial Bank & Trust boosted its position in InterDigital by 12.2% during the third 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 grew its holdings in InterDigital by 12.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after purchasing an additional 143 shares during the period. Larson Financial Group LLC increased its position 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 valued at $174,000 after buying an additional 278 shares in the last quarter. Finally, Precision Wealth Strategies LLC acquired a new position in shares of InterDigital during the 3rd quarter worth approximately $203,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

IDCC has been the subject of several recent analyst reports. 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 cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction that occurred 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 transaction, the chief technology officer now owns 64,939 shares in the company, valued at $6,190,634.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value 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 approximately $6,190,634.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $66,943.23. Following the transaction, 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. Insiders have sold a total of 1,999 shares of company stock worth $196,423 in the last ninety days. Insiders own 2.30% of the company’s stock.

InterDigital Stock Performance

Shares of NASDAQ:IDCC opened at $105.43 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. InterDigital, Inc. has a 1 year low of $74.65 and a 1 year high of $119.86. The firm has a market capitalization of $2.66 billion, a PE ratio of 15.50, a P/E/G ratio of 0.85 and a beta of 1.35. The business’s 50 day moving average price is $101.64 and its 200-day moving average price is $101.28.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. The company had revenue of $105.52 million for the quarter, compared to analysts’ expectations of $104.31 million. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. As a group, equities research analysts expect 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 was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is 23.53%.

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.