LPL Financial LLC Buys 6,249 Shares of InterDigital, Inc. (NASDAQ:IDCC)

LPL Financial LLC lifted its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 78.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,245 shares of the Wireless communications provider’s stock after buying an additional 6,249 shares during the quarter. LPL Financial LLC owned about 0.05% of InterDigital worth $2,945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IDCC. Russell Investments Group Ltd. raised its position in shares of InterDigital by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,932 shares of the Wireless communications provider’s stock valued at $568,000 after buying an additional 51 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of InterDigital by 3.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,646 shares of the Wireless communications provider’s stock valued at $513,000 after purchasing an additional 83 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of InterDigital by 488.4% during the 4th quarter. NewEdge Advisors LLC now owns 2,842 shares of the Wireless communications provider’s stock valued at $551,000 after purchasing an additional 2,359 shares in the last quarter. First Trust Advisors LP lifted its position in InterDigital by 14.1% during the 4th quarter. First Trust Advisors LP now owns 103,295 shares of the Wireless communications provider’s stock valued at $20,010,000 after acquiring an additional 12,804 shares during the period. Finally, Natixis purchased a new position in InterDigital during the 4th quarter valued at about $6,586,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Down 0.4%

Shares of InterDigital stock opened at $268.74 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market capitalization of $6.93 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.64 and a beta of 1.37. InterDigital, Inc. has a 52-week low of $129.76 and a 52-week high of $277.95. The company has a 50-day simple moving average of $235.97 and a two-hundred day simple moving average of $217.79.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $3.75. The business had revenue of $300.60 million during the quarter, compared to analysts’ expectations of $167.93 million. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The firm’s revenue was up 34.5% on a year-over-year basis. During the same period in the prior year, the company earned $4.57 earnings per share. On average, analysts anticipate that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. InterDigital’s dividend payout ratio is presently 17.11%.

Insider Activity at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 466 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $232.33, for a total transaction of $108,265.78. Following the transaction, the insider directly owned 28,804 shares in the company, valued at $6,692,033.32. This represents a 1.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Derek K. Aberle sold 692 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $226.41, for a total transaction of $156,675.72. Following the transaction, the director owned 6,192 shares in the company, valued at approximately $1,401,930.72. The trade was a 10.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,062 shares of company stock valued at $920,853 over the last quarter. 2.80% of the stock is currently owned by insiders.

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.