Edgestream Partners L.P. Acquires 5,172 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Edgestream Partners L.P. boosted its stake in InterDigital, Inc. (NASDAQ:IDCC) by 38.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,533 shares of the Wireless communications provider’s stock after acquiring an additional 5,172 shares during the period. Edgestream Partners L.P. owned 0.07% of InterDigital worth $2,160,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IDCC. Wellington Management Group LLP boosted its stake in shares of InterDigital by 16.1% during the 4th quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock valued at $8,539,000 after purchasing an additional 10,926 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of InterDigital during the 4th quarter worth approximately $13,309,000. Trexquant Investment LP bought a new position in shares of InterDigital in the 4th quarter worth approximately $1,779,000. Norges Bank purchased a new position in shares of InterDigital in the 4th quarter valued at approximately $18,987,000. Finally, Duality Advisers LP boosted its position in shares of InterDigital by 1,380.5% during the first quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock valued at $3,441,000 after purchasing an additional 30,137 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Trading Down 0.4 %

InterDigital stock opened at $135.08 on Thursday. InterDigital, Inc. has a 12 month low of $74.65 and a 12 month high of $140.60. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $131.28 and its two-hundred day simple moving average is $115.94. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 0.84 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, beating the consensus estimate of $0.43 by $3.77. The company had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. As a group, equities analysts predict that InterDigital, Inc. will post 9.05 earnings per share for the current fiscal 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 issued a $0.45 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Wednesday, October 9th. InterDigital’s payout ratio is presently 26.47%.

Insider Activity at InterDigital

In other news, Director Derek K. Aberle sold 2,005 shares of the business’s 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 transaction, the director now owns 7,639 shares in the company, valued at $1,026,681.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on IDCC shares. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd. Roth Mkm boosted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

InterDigital Company Profile

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.