JPMorgan Chase & Co. decreased its stake in shares of InterDigital Inc. (NASDAQ:IDCC) by 49.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,443 shares of the company’s stock after selling 273,572 shares during the period. JPMorgan Chase & Co. owned 0.82% of InterDigital worth $15,671,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. raised its position in shares of 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 during the last quarter. LS Investment Advisors LLC raised its position in shares of InterDigital by 73.8% in the second quarter. LS Investment Advisors LLC now owns 2,084 shares of the company’s stock valued at $116,000 after buying an additional 885 shares during the last quarter. Smith Asset Management Group LP raised its position in shares of InterDigital by 8,400.0% in the second quarter. Smith Asset Management Group LP now owns 2,125 shares of the company’s stock valued at $118,000 after buying an additional 2,100 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of InterDigital during the second quarter valued at about $189,000. Finally, Commonwealth Equity Services Inc raised its position in shares of InterDigital by 16.2% in the second quarter. Commonwealth Equity Services Inc now owns 4,305 shares of the company’s stock valued at $240,000 after buying an additional 600 shares during the last quarter. 69.14% of the stock is currently owned by institutional investors.
InterDigital Inc. (NASDAQ:IDCC) traded up 1.09% during trading on Friday, reaching $79.62. 126,494 shares of the company’s stock traded hands. InterDigital Inc. has a 12-month low of $41.01 and a 12-month high of $79.80. The company has a 50 day moving average price of $72.65 and a 200-day moving average price of $60.78. The company has a market cap of $2.73 billion, a PE ratio of 22.52 and a beta of 1.11.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.83. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The business earned $75.90 million during the quarter, compared to analysts’ expectations of $76.60 million. During the same quarter in the prior year, the company posted $0.89 EPS. The business’s revenue for the quarter was down 36.0% on a year-over-year basis. On average, equities research analysts forecast that InterDigital Inc. will post $4.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be paid a $0.30 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, October 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. InterDigital’s dividend payout ratio is 22.66%.
Several equities analysts recently issued reports on IDCC shares. B. Riley reissued a “buy” rating and set a $69.00 price objective on shares of InterDigital in a report on Monday, June 27th. TheStreet raised shares of InterDigital from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Barclays PLC lifted their price objective on shares of InterDigital from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 9th. Finally, Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “sell” rating in a report on Thursday, June 30th.
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.
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