Hussman Strategic Advisors Inc. Takes Position in InterDigital, Inc. (IDCC)
Hussman Strategic Advisors Inc. bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) during the second quarter, Holdings Channel reports. The fund bought 50,000 shares of the Wireless communications provider’s stock, valued at approximately $3,865,000.
Other hedge funds have also bought and sold shares of the company. Tyers Asset Management LLC boosted its stake in InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock worth $101,000 after buying an additional 32 shares during the period. TrimTabs Asset Management LLC boosted its stake in InterDigital by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the Wireless communications provider’s stock worth $117,000 after buying an additional 640 shares during the period. Financial Architects Inc boosted its stake in InterDigital by 180.0% in the second quarter. Financial Architects Inc now owns 1,400 shares of the Wireless communications provider’s stock worth $108,000 after buying an additional 900 shares during the period. Segantii Capital Management Ltd acquired a new stake in InterDigital during the first quarter worth about $129,000. Finally, Elkfork Partners LLC boosted its stake in InterDigital by 2.8% in the first quarter. Elkfork Partners LLC now owns 1,606 shares of the Wireless communications provider’s stock worth $139,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 69.33% of the company’s stock.
Shares of InterDigital, Inc. (IDCC) opened at 71.35 on Monday. The firm has a 50-day moving average of $78.47 and a 200-day moving average of $85.09. The firm has a market capitalization of $2.48 billion, a PE ratio of 7.78 and a beta of 1.00. InterDigital, Inc. has a 1-year low of $63.86 and a 1-year high of $102.30.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. InterDigital had a return on equity of 44.58% and a net margin of 45.92%. The firm had revenue of $135.78 million during the quarter, compared to the consensus estimate of $133.69 million. During the same quarter in the prior year, the firm posted $1.14 EPS. The business’s revenue was up 78.8% on a year-over-year basis. On average, equities research analysts anticipate that InterDigital, Inc. will post $3.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Wednesday, July 12th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Monday, July 10th. InterDigital’s dividend payout ratio (DPR) is currently 13.00%.
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A number of research firms have issued reports on IDCC. B. Riley reiterated a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research note on Thursday, May 4th. Benchmark Co. began coverage on shares of InterDigital in a research note on Tuesday, April 25th. They issued a “hold” rating for the company. Zacks Investment Research upgraded shares of InterDigital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Finally, BidaskClub cut shares of InterDigital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. InterDigital presently has a consensus rating of “Hold” and a consensus price target of $92.50.
In other InterDigital news, EVP Lawrence F. Shay sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $85.88, for a total transaction of $687,040.00. Following the completion of the transaction, the executive vice president now owns 48,458 shares of the company’s stock, valued at approximately $4,161,573.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $79.15, for a total value of $39,575.00. Following the transaction, the executive vice president now directly owns 79,768 shares of the company’s stock, valued at approximately $6,313,637.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,300 shares of company stock valued at $794,127. Insiders own 1.90% of the company’s stock.
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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