Choreo LLC Invests $214,000 in InterDigital, Inc. (NASDAQ:IDCC)

Choreo LLC bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,838 shares of the Wireless communications provider’s stock, valued at approximately $214,000.

A number of other large investors have also modified their holdings of IDCC. 1620 Investment Advisors Inc. purchased a new position in shares of InterDigital during the 2nd quarter worth approximately $29,000. Riverview Trust Co acquired a new stake in shares of InterDigital in the 1st quarter worth approximately $31,000. GAMMA Investing LLC grew its holdings in shares of InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after acquiring an additional 124 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after acquiring an additional 109 shares during the period. Finally, Palisade Asset Management LLC acquired a new stake in shares of InterDigital in the 1st quarter worth approximately $64,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the transaction, the director now owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

IDCC has been the topic of a number of research reports. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, August 22nd. Roth Mkm upped their price target on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $137.83 on Friday. The business’s fifty day moving average price is $131.54 and its two-hundred day moving average price is $116.07. The stock has a market cap of $3.48 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 0.84 and a beta of 1.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. InterDigital, Inc. has a one year low of $74.65 and a one year high of $140.60.

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. The firm had revenue of $223.49 million for the quarter, compared to analysts’ expectations of $95.63 million. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. On average, analysts forecast that InterDigital, Inc. will post 9.05 EPS for the current fiscal year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, October 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is 26.47%.

InterDigital 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.