HL Financial Services LLC increased its stake in InterDigital Inc. (NASDAQ:IDCC) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,755 shares of the company’s stock after buying an additional 27 shares during the period. HL Financial Services LLC’s holdings in InterDigital were worth $265,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Ulysses Management LLC boosted its stake in InterDigital by 4.2% in the first quarter. Ulysses Management LLC now owns 495,000 shares of the company’s stock valued at $27,547,000 after buying an additional 20,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in InterDigital by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,034,062 shares of the company’s stock valued at $57,546,000 after buying an additional 13,188 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in InterDigital by 8.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,038 shares of the company’s stock valued at $113,000 after buying an additional 164 shares in the last quarter. Aperio Group LLC bought a new stake in InterDigital during the first quarter valued at approximately $255,000. Finally, State Street Corp boosted its stake in InterDigital by 0.7% in the first quarter. State Street Corp now owns 1,090,975 shares of the company’s stock valued at $60,710,000 after buying an additional 7,093 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.
InterDigital Inc. (NASDAQ:IDCC) traded up 0.56% during mid-day trading on Friday, reaching $79.20. 406,209 shares of the company’s stock were exchanged. The company has a market cap of $2.71 billion, a PE ratio of 22.40 and a beta of 1.11. The stock has a 50-day moving average price of $72.98 and a 200 day moving average price of $60.97. InterDigital Inc. has a 52-week low of $41.01 and a 52-week high of $79.92.
InterDigital (NASDAQ:IDCC) last released its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.83. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The company had revenue of $75.90 million for the quarter, compared to the consensus estimate of $76.60 million. During the same period in the prior year, the company posted $0.89 EPS. The company’s revenue was down 36.0% compared to the same quarter last year. Equities analysts predict that InterDigital Inc. will post $4.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 7th. This is an increase from InterDigital’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. InterDigital’s dividend payout ratio is presently 22.66%.
Several analysts recently commented on IDCC shares. Barclays PLC raised their price target on shares of InterDigital from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 9th. TheStreet upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research cut shares of InterDigital from a “hold” rating to a “sell” rating in a report on Thursday, June 30th. Finally, B. Riley cut shares of InterDigital from a “buy” rating to a “neutral” rating and set a $80.00 price target for the company. in a report on Monday, September 26th.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
Want to see what other hedge funds are holding IDCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterDigital Inc. (NASDAQ:IDCC).
Receive News & Ratings for InterDigital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.