Skandinaviska Enskilda Banken AB publ Cuts Stake in InterDigital, Inc. (NASDAQ:IDCC)

Skandinaviska Enskilda Banken AB publ cut its stake in InterDigital, Inc. (NASDAQ:IDCC) by 52.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,600 shares of the Wireless communications provider’s stock after selling 66,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in InterDigital were worth $7,064,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IDCC. Norges Bank acquired a new position in shares of InterDigital during the fourth quarter valued at approximately $18,987,000. Crossmark Global Holdings Inc. purchased a new position in InterDigital in the 4th quarter valued at $13,309,000. Emerald Advisers LLC lifted its holdings in InterDigital by 127,997.9% in the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock valued at $14,035,000 after purchasing an additional 120,318 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in InterDigital by 473.5% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock worth $11,244,000 after purchasing an additional 79,648 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of InterDigital by 164.2% during the second quarter. Envestnet Asset Management Inc. now owns 117,826 shares of the Wireless communications provider’s stock worth $13,734,000 after buying an additional 73,227 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

InterDigital Stock Up 0.5 %

NASDAQ IDCC opened at $138.55 on Friday. The business’s fifty day simple moving average is $132.20 and its 200-day simple moving average is $116.52. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. The firm has a market cap of $3.50 billion, a PE ratio of 20.38, a P/E/G 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 $140.86.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, topping 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 company had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. As a group, equities analysts anticipate that InterDigital, Inc. will post 9.05 earnings per share for the current year.

InterDigital Increases Dividend

The firm 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 $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.30%. This is a positive change 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 presently 26.47%.

Insiders Place Their Bets

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the transaction, the director now owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by 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.