New York State Common Retirement Fund Has $1.60 Million Position in InterDigital, Inc. (NASDAQ:IDCC)

New York State Common Retirement Fund reduced its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 6.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,761 shares of the Wireless communications provider’s stock after selling 991 shares during the quarter. New York State Common Retirement Fund’s holdings in InterDigital were worth $1,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IDCC. International Assets Investment Management LLC acquired a new position in shares of InterDigital in the fourth quarter valued at approximately $9,012,000. Qube Research & Technologies Ltd increased its position in InterDigital by 125.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 58,915 shares of the Wireless communications provider’s stock worth $4,727,000 after buying an additional 32,750 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of InterDigital by 220.9% during 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 in the last quarter. Hussman Strategic Advisors Inc. lifted its holdings in shares of InterDigital by 69.4% during the third quarter. Hussman Strategic Advisors Inc. now owns 26,250 shares of the Wireless communications provider’s stock worth $2,106,000 after buying an additional 10,750 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of InterDigital by 59.2% in the fourth quarter. Ritholtz Wealth Management now owns 15,020 shares of the Wireless communications provider’s stock valued at $1,630,000 after acquiring an additional 5,588 shares during the period. 99.83% of the stock is owned by institutional investors.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $103.87, for a total value of $67,515.50. Following the completion of the transaction, the chief technology officer now owns 64,517 shares of the company’s stock, valued at $6,701,380.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the transaction, the chief technology officer now directly owns 64,517 shares in the company, valued at $6,701,380.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eeva K. Hakoranta sold 699 shares of the firm’s 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 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. Insiders have sold a total of 1,999 shares of company stock worth $196,423 over the last 90 days. Insiders own 2.30% of the company’s stock.

InterDigital Price Performance

IDCC stock opened at $105.56 on Friday. The company’s 50-day moving average price is $101.60 and its two-hundred day moving average price is $101.34. The firm has a market cap of $2.66 billion, a P/E ratio of 15.52, a P/E/G ratio of 0.85 and a beta of 1.35. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04. InterDigital, Inc. has a 12 month low of $74.65 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The business had revenue of $105.52 million for the quarter, compared to analysts’ expectations of $104.31 million. On average, analysts anticipate that InterDigital, Inc. will post 7.02 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Analyst Ratings Changes

Several brokerages have weighed in on IDCC. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday. Bank of America reiterated an “underperform” rating and issued a $100.00 price target (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st.

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.