Y Intercept Hong Kong Ltd Acquires New Shares in InterDigital, Inc. $IDCC

Y Intercept Hong Kong Ltd acquired a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,505 shares of the Wireless communications provider’s stock, valued at approximately $1,010,000.

A number of other institutional investors also recently added to or reduced their stakes in IDCC. Wayfinding Financial LLC acquired a new position in InterDigital during the 1st quarter worth $32,000. Banque Transatlantique SA acquired a new position in InterDigital during the 1st quarter worth $33,000. Headlands Technologies LLC acquired a new position in InterDigital during the 1st quarter worth $35,000. Concord Wealth Partners acquired a new position in InterDigital during the 1st quarter worth $37,000. Finally, Global Wealth Strategies & Associates acquired a new position in InterDigital during the 2nd quarter worth $38,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $396.54 on Tuesday. InterDigital, Inc. has a twelve month low of $162.74 and a twelve month high of $412.60. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 1.88 and a beta of 1.44. The firm has a 50-day moving average of $336.96 and a two-hundred day moving average of $266.07.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were issued a dividend of $0.70 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, October 8th. InterDigital’s dividend payout ratio (DPR) is currently 18.89%.

Wall Street Analysts Forecast Growth

IDCC has been the subject of several recent analyst reports. Roth Capital increased their price objective on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a report on Friday, September 12th. Jefferies Financial Group set a $475.00 price objective on shares of InterDigital and gave the company a “buy” rating in a report on Thursday. William Blair reiterated an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Finally, Weiss Ratings upgraded shares of InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $412.50.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 1,000 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the sale, the chief technology officer directly owned 65,122 shares of the company’s stock, valued at $22,016,445.76. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $273.12, for a total value of $127,273.92. Following the sale, the insider directly owned 28,370 shares of the company’s stock, valued at approximately $7,748,414.40. This represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 3,466 shares of company stock valued at $1,016,164. 2.80% of the stock is currently owned by company insiders.

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.