InterDigital, Inc. (NASDAQ:IDCC) Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 81.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 667 shares of the Wireless communications provider’s stock after purchasing an additional 299 shares during the period. GAMMA Investing LLC’s holdings in InterDigital were worth $94,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. 1620 Investment Advisors Inc. bought a new position in InterDigital in the second quarter worth about $29,000. Riverview Trust Co bought a new position in InterDigital in the first quarter worth about $31,000. Nisa Investment Advisors LLC lifted its holdings in InterDigital by 38.0% in the second 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 last quarter. Palisade Asset Management LLC bought a new position in InterDigital in the first quarter worth about $64,000. Finally, CWM LLC lifted its holdings in InterDigital by 41.7% in the second quarter. CWM LLC now owns 635 shares of the Wireless communications provider’s stock worth $74,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on IDCC shares. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday. Roth Mkm raised their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Derek K. Aberle sold 2,005 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 of the company’s stock, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is owned by insiders.

InterDigital Price Performance

NASDAQ IDCC opened at $155.86 on Tuesday. InterDigital, Inc. has a 12 month low of $74.65 and a 12 month high of $156.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market capitalization of $3.93 billion, a PE ratio of 22.92, a P/E/G ratio of 0.94 and a beta of 1.39. The company’s 50 day simple moving average is $138.46 and its 200 day simple moving average is $121.05.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data 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 business had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. As a group, equities research analysts forecast that InterDigital, Inc. will post 9.04 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a $0.45 dividend. 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. This represents a $1.80 annualized dividend and a yield of 1.15%. InterDigital’s payout ratio is 26.47%.

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.