Intech Investment Management LLC Makes New Investment in InterDigital, Inc. (NASDAQ:IDCC)

Intech Investment Management LLC bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,918 shares of the Wireless communications provider's stock, valued at approximately $457,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in InterDigital by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider's stock valued at $344,370,000 after acquiring an additional 17,238 shares in the last quarter. Norges Bank acquired a new position in InterDigital in the fourth quarter valued at $18,987,000. Principal Financial Group Inc. boosted its stake in InterDigital by 1.2% in the first quarter. Principal Financial Group Inc. now owns 151,173 shares of the Wireless communications provider's stock valued at $16,094,000 after acquiring an additional 1,758 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in InterDigital in the fourth quarter valued at $13,309,000. Finally, Emerald Advisers LLC boosted its stake in InterDigital by 127,997.9% in the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider's stock valued at $14,035,000 after acquiring an additional 120,318 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

InterDigital Stock Performance

Shares of IDCC traded up $2.60 during mid-day trading on Friday, hitting $141.05. 257,319 shares of the company's stock were exchanged, compared to its average volume of 464,994. The firm has a market capitalization of $3.56 billion, a P/E ratio of 20.73, a P/E/G ratio of 0.88 and a beta of 1.39. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $141.76. The business's 50 day moving average is $133.43 and its two-hundred day moving average is $117.34. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $3.77. The firm had revenue of $223.49 million during the quarter, compared to the consensus estimate of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. On average, equities analysts expect that InterDigital, Inc. will post 9.05 earnings per share for the current year.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be given a $0.45 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.28%. This is an increase from InterDigital's previous quarterly dividend of $0.40. InterDigital's dividend payout ratio (DPR) is presently 26.47%.

Insider Activity

In other news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the sale, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the sale, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the sale, the director now owns 7,639 shares of the company's stock, valued at $1,026,681.60. The disclosure for this sale can be found here. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on IDCC shares. StockNews.com upgraded shares of InterDigital from a "hold" rating to a "buy" rating in a research note on Thursday, August 22nd. Roth Mkm increased their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th.

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.