Nisa Investment Advisors LLC held its position in InterDigital Inc. (NASDAQ:IDCC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,900 shares of the company’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in InterDigital were worth $329,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its position in InterDigital by 8.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,038 shares of the company’s stock worth $113,000 after buying an additional 164 shares during the period. Aperio Group LLC acquired a new position in InterDigital during the first quarter worth $255,000. Menta Capital LLC acquired a new position in InterDigital during the first quarter worth $284,000. Nisa Investment Advisors L.L.C. raised its position in InterDigital by 7.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 5,900 shares of the company’s stock worth $328,000 after buying an additional 400 shares during the period. Finally, Panagora Asset Management Inc. raised its position in InterDigital by 108.1% in the first quarter. Panagora Asset Management Inc. now owns 10,017 shares of the company’s stock worth $557,000 after buying an additional 5,204 shares during the period. 69.14% of the stock is currently owned by hedge funds and other institutional investors.
InterDigital Inc. (NASDAQ:IDCC) traded down 1.77% on Friday, hitting $78.20. 468,291 shares of the company were exchanged. InterDigital Inc. has a 52 week low of $41.01 and a 52 week high of $79.80. The company has a 50 day moving average price of $71.34 and a 200-day moving average price of $60.05. The stock has a market capitalization of $2.68 billion, a P/E ratio of 22.12 and a beta of 1.11.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.83. The business had revenue of $75.90 million for the quarter, compared to the consensus estimate of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The company’s quarterly revenue was down 36.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. On average, equities analysts expect that InterDigital Inc. will post $4.34 earnings per share for the current fiscal year.
The business also recently disclosed 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. 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 1.53%. The ex-dividend date is Friday, October 7th. InterDigital’s payout ratio is presently 22.66%.
IDCC has been the topic of a number of recent research reports. B. Riley reaffirmed a “buy” rating and issued a $69.00 price objective on shares of InterDigital in a research note on Monday, June 27th. TheStreet raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Barclays PLC raised their price target on shares of InterDigital from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $75.00.
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.