Quantbot Technologies LP Lowers Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Quantbot Technologies LP cut its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 39.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,524 shares of the Wireless communications provider’s stock after selling 6,310 shares during the quarter. Quantbot Technologies LP’s holdings in InterDigital were worth $1,014,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in InterDigital by 220.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after purchasing an additional 792,868 shares during the period. Norges Bank purchased a new position in shares of InterDigital during the fourth quarter valued at $18,987,000. Crossmark Global Holdings Inc. bought a new stake in shares of InterDigital in the fourth quarter valued at about $13,309,000. International Assets Investment Management LLC purchased a new stake in InterDigital in the fourth quarter worth about $9,012,000. Finally, Vanguard Group Inc. grew its holdings in InterDigital by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,343,395 shares of the Wireless communications provider’s stock worth $268,274,000 after acquiring an additional 72,720 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

InterDigital Trading Down 0.9 %

NASDAQ:IDCC opened at $121.06 on Friday. The company has a market capitalization of $3.06 billion, a P/E ratio of 17.80, a PEG ratio of 1.04 and a beta of 1.42. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.04. InterDigital, Inc. has a 12 month low of $74.65 and a 12 month high of $124.01. The firm has a fifty day simple moving average of $114.28 and a 200-day simple moving average of $107.51.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share for the quarter, topping the consensus estimate of $3.16 by $0.06. The company had revenue of $263.54 million for the quarter, compared to the consensus estimate of $250.15 million. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. On average, equities research analysts anticipate that InterDigital, Inc. will post 6.65 earnings per share for the current year.

InterDigital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, July 10th. InterDigital’s dividend payout ratio (DPR) is 23.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Bank of America reaffirmed an “underperform” rating and issued a $100.00 price target (down previously from $140.00) on shares of InterDigital in a research report on Monday, April 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $100.00 target price (down previously from $106.00) on shares of InterDigital in a research report on Monday, May 13th. Finally, StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th.

Insider Activity at InterDigital

In other InterDigital news, Director John D. Jr. Markley sold 750 shares of InterDigital stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the transaction, the director now owns 12,202 shares of the company’s stock, valued at $1,406,646.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $103.87, for a total value of $67,515.50. Following the sale, the chief technology officer now directly owns 64,517 shares in the company, valued at approximately $6,701,380.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John D. Jr. Markley sold 750 shares of InterDigital stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the sale, the director now directly owns 12,202 shares in the company, valued at $1,406,646.56. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

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.