PNC Financial Services Group Inc. Has $402,000 Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

PNC Financial Services Group Inc. boosted its holdings in shares of InterDigital, Inc. (NASDAQ:IDCCFree Report) by 40.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,703 shares of the Wireless communications provider’s stock after buying an additional 1,069 shares during the period. PNC Financial Services Group Inc.’s holdings in InterDigital were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of InterDigital in the 4th quarter valued at about $912,000. Norges Bank purchased a new stake in InterDigital in the 4th quarter worth approximately $18,987,000. NDVR Inc. acquired a new stake in shares of InterDigital during the 4th quarter valued at $255,000. Brown Advisory Inc. grew its holdings in shares of InterDigital by 13.8% during the 4th quarter. Brown Advisory Inc. now owns 41,922 shares of the Wireless communications provider’s stock valued at $4,550,000 after acquiring an additional 5,083 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of InterDigital by 11.6% in the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock worth $107,000 after acquiring an additional 103 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Price Performance

NASDAQ IDCC opened at $114.52 on Tuesday. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $119.86. The stock’s 50-day moving average is $103.38 and its two-hundred day moving average is $104.80. The firm has a market cap of $2.89 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40. 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 (NASDAQ:IDCCGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $0.06. The business had revenue of $263.54 million for the quarter, compared to the consensus estimate of $250.15 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. On average, analysts anticipate that InterDigital, Inc. will post 6.79 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.40%. InterDigital’s payout ratio is presently 23.53%.

Insider Buying and Selling

In other news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the sale, 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 document filed with the SEC, which is available at the SEC website. In related news, insider Eeva K. Hakoranta sold 699 shares of the company’s 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 completion of the transaction, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $61,964.50. Following the completion of the sale, 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. Insiders have sold 1,999 shares of company stock worth $196,423 in the last quarter. 2.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IDCC. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Jefferies Financial Group reissued a “hold” rating and issued a $100.00 price target (down previously from $106.00) on shares of InterDigital in a research note on Monday, May 13th. Finally, Bank of America reaffirmed an “underperform” rating and set a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a research report on Monday, April 1st.

Check Out Our Latest Stock Report on InterDigital

InterDigital Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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