InterDigital, Inc. (IDCC) Position Held by Cordasco Financial Network
Cordasco Financial Network maintained its stake in InterDigital, Inc. (NASDAQ:IDCC) during the third quarter, Holdings Channel reports. The firm owned 10,000 shares of the company’s stock at the end of the third quarter. Cordasco Financial Network’s holdings in InterDigital were worth $557,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of InterDigital by 77.1% in the second quarter. Victory Capital Management Inc. now owns 1,801 shares of the company’s stock valued at $100,000 after buying an additional 784 shares in the last quarter. LS Investment Advisors LLC boosted its stake in shares of InterDigital by 73.8% in the second quarter. LS Investment Advisors LLC now owns 2,084 shares of the company’s stock valued at $116,000 after buying an additional 885 shares in the last quarter. Smith Asset Management Group LP boosted its stake in shares of InterDigital by 8,400.0% in the second quarter. Smith Asset Management Group LP now owns 2,125 shares of the company’s stock valued at $118,000 after buying an additional 2,100 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of InterDigital by 9.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,163 shares of the company’s stock valued at $120,000 after buying an additional 188 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of InterDigital during the second quarter valued at $201,000. 68.61% of the stock is currently owned by institutional investors and hedge funds.
InterDigital, Inc. (NASDAQ:IDCC) traded up 0.11% on Friday, hitting $90.15. 278,479 shares of the company traded hands. The firm has a market capitalization of $3.09 billion, a PE ratio of 15.46 and a beta of 1.13. InterDigital, Inc. has a 1-year low of $41.01 and a 1-year high of $98.00. The firm’s 50 day moving average price is $85.72 and its 200 day moving average price is $72.85.
InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, October 27th. The company reported $2.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.08 by $0.09. The firm earned $208.30 million during the quarter, compared to analysts’ expectations of $210.68 million. InterDigital had a return on equity of 33.71% and a net margin of 40.78%. The company’s revenue for the quarter was up 107.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. Equities research analysts predict that InterDigital, Inc. will post $8.71 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 11th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, January 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.33%. InterDigital’s payout ratio is currently 20.55%.
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IDCC has been the topic of several analyst reports. B. Riley reiterated a “neutral” rating and set a $80.00 price target on shares of InterDigital in a research report on Saturday, October 1st. Zacks Investment Research cut InterDigital from a “hold” rating to a “sell” rating in a research report on Tuesday, December 20th. Finally, Sidoti cut InterDigital from a “buy” rating to a “neutral” rating and set a $86.00 price target on the stock. in a research report on Wednesday, December 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $82.63.
In other news, CFO Richard Brezski sold 6,807 shares of InterDigital stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $70.00, for a total transaction of $476,490.00. Following the transaction, the chief financial officer now directly owns 20,556 shares of the company’s stock, valued at approximately $1,438,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.50% of the company’s stock.
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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