Public Sector Pension Investment Board Increases Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Public Sector Pension Investment Board boosted its position in InterDigital, Inc. (NASDAQ:IDCC) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,514 shares of the Wireless communications provider’s stock after purchasing an additional 2,830 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of InterDigital worth $6,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of InterDigital by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock worth $344,370,000 after buying an additional 17,238 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of InterDigital by 51,337.0% in the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock valued at $86,635,000 after acquiring an additional 741,820 shares in the last quarter. Norges Bank bought a new stake in shares of InterDigital during the 4th quarter valued at about $18,987,000. Principal Financial Group Inc. grew its holdings in shares of InterDigital by 1.2% during the first quarter. Principal Financial Group Inc. now owns 151,173 shares of the Wireless communications provider’s stock worth $16,094,000 after purchasing an additional 1,758 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of InterDigital in the fourth quarter worth approximately $13,309,000. 99.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IDCC shares. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, August 22nd. Roth Mkm upped their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

InterDigital Price Performance

IDCC opened at $138.85 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. The stock’s 50 day moving average price is $132.85 and its 200-day moving average price is $117.05. The stock has a market capitalization of $3.50 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 0.84 and a beta of 1.39. InterDigital, Inc. has a 52-week low of $74.65 and a 52-week high of $141.00.

InterDigital (NASDAQ:IDCC) last announced its earnings results 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. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The firm had revenue of $223.49 million for the quarter, compared to analysts’ expectations of $95.63 million. On average, equities research analysts predict that InterDigital, Inc. will post 9.05 EPS 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 dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.30%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, October 9th. InterDigital’s dividend payout ratio is 26.47%.

Insider Buying and Selling at InterDigital

In other news, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares in the company, valued at $2,813,102.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the sale, the director now directly owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

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.