InterDigital, Inc. (NASDAQ:IDCC) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its stake in shares of InterDigital, Inc. (NASDAQ:IDCCFree Report) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,107 shares of the Wireless communications provider’s stock after acquiring an additional 3,775 shares during the period. Allianz Asset Management GmbH owned approximately 0.16% of InterDigital worth $4,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Trexquant Investment LP acquired a new stake in InterDigital in the 4th quarter valued at approximately $1,779,000. Norges Bank acquired a new position in InterDigital during the 4th quarter worth about $18,987,000. International Assets Investment Management LLC acquired a new position in InterDigital during the 4th quarter worth about $9,012,000. Qube Research & Technologies Ltd boosted its holdings 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 valued at $4,727,000 after acquiring an additional 32,750 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its position in InterDigital by 1,119.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,121 shares of the Wireless communications provider’s stock valued at $226,000 after acquiring an additional 1,947 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IDCC has been the topic of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating and set a $100.00 price target (down from $106.00) on shares of InterDigital in a research note on Monday, May 13th. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Bank of America reiterated an “underperform” rating and set a $100.00 price target (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st.

Read Our Latest Analysis on IDCC

Insider Buying and Selling

In related news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was 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 directly owns 64,517 shares of the company’s stock, valued at $6,701,380.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was 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 directly owns 64,517 shares of the company’s stock, valued at $6,701,380.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eeva K. Hakoranta sold 699 shares of the company’s stock in a transaction that occurred 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 completion of 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. Over the last ninety days, insiders have sold 1,999 shares of company stock worth $196,423. Company insiders own 2.30% of the company’s stock.

InterDigital Stock Up 1.7 %

IDCC stock opened at $116.85 on Thursday. The company’s 50 day moving average price is $103.56 and its 200 day moving average price is $104.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $119.86. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.97 and a beta of 1.40.

InterDigital (NASDAQ:IDCCGet Free Report) last released its earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.06. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The firm had revenue of $263.54 million for the quarter, compared to analyst estimates of $250.15 million. On average, equities research analysts anticipate that InterDigital, Inc. will post 6.79 EPS 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 dividend of $0.40 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.37%. InterDigital’s payout ratio is 23.53%.

About InterDigital

(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.

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Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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