InterDigital, Inc. (NASDAQ:IDCC) Shares Bought by Raymond James & Associates

Raymond James & Associates lifted its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 3.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 35,359 shares of the Wireless communications provider’s stock after purchasing an additional 1,099 shares during the period. Raymond James & Associates’ holdings in InterDigital were worth $5,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IDCC. Mirae Asset Global Investments Co. Ltd. boosted its position in InterDigital by 13.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,464 shares of the Wireless communications provider’s stock valued at $7,821,000 after buying an additional 8,533 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in shares of InterDigital in the 1st quarter valued at about $64,000. GSA Capital Partners LLP raised its stake in shares of InterDigital by 25.0% in the 1st quarter. GSA Capital Partners LLP now owns 12,109 shares of the Wireless communications provider’s stock valued at $1,289,000 after purchasing an additional 2,420 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of InterDigital by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,495 shares of the Wireless communications provider’s stock valued at $2,395,000 after purchasing an additional 291 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new stake in InterDigital during the first quarter worth about $303,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on IDCC. 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. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th.

Insiders Place Their Bets

In other news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the transaction, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were 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 owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,205 shares of company stock valued at $716,218 in the last quarter. Insiders own 2.30% of the company’s stock.

InterDigital Trading Up 10.1 %

Shares of NASDAQ:IDCC opened at $165.70 on Friday. The firm has a fifty day moving average of $142.84 and a two-hundred day moving average of $126.06. The firm has a market capitalization of $4.16 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.39. InterDigital, Inc. has a 12-month low of $76.82 and a 12-month high of $166.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $95.63 million. On average, equities analysts expect that InterDigital, Inc. will post 9.06 EPS for the current fiscal year.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.09%. InterDigital’s payout ratio is currently 18.11%.

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.