ING Groep NV bought a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 4,218 shares of the Wireless communications provider’s stock, valued at approximately $326,000.

Other hedge funds have also bought and sold shares of the company. Capstone Asset Management Co. boosted its position in shares of InterDigital by 3.0% in the first quarter. Capstone Asset Management Co. now owns 6,119 shares of the Wireless communications provider’s stock valued at $528,000 after buying an additional 180 shares during the period. Algert Global LLC purchased a new position in shares of InterDigital during the first quarter valued at about $895,000. AQR Capital Management LLC boosted its position in shares of InterDigital by 17.7% in the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock valued at $56,834,000 after buying an additional 99,018 shares during the period. Alliancebernstein L.P. boosted its position in shares of InterDigital by 9.5% in the first quarter. Alliancebernstein L.P. now owns 123,197 shares of the Wireless communications provider’s stock valued at $10,632,000 after buying an additional 10,690 shares during the period. Finally, Comerica Bank boosted its position in shares of InterDigital by 4.6% in the first quarter. Comerica Bank now owns 26,406 shares of the Wireless communications provider’s stock valued at $2,413,000 after buying an additional 1,153 shares during the period. Hedge funds and other institutional investors own 69.33% of the company’s stock.

Shares of InterDigital, Inc. (NASDAQ IDCC) traded down 1.13% during trading on Thursday, hitting $70.30. The company had a trading volume of 81,806 shares. InterDigital, Inc. has a 12-month low of $67.04 and a 12-month high of $102.30. The firm has a 50 day moving average of $76.86 and a 200 day moving average of $84.41. The stock has a market cap of $2.44 billion, a PE ratio of 7.67 and a beta of 1.00.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.05. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. The business had revenue of $135.78 million during the quarter, compared to analysts’ expectations of $133.69 million. During the same quarter in the prior year, the company earned $1.14 EPS. The firm’s quarterly revenue was up 78.8% on a year-over-year basis. On average, analysts forecast that InterDigital, Inc. will post $3.59 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, July 10th. InterDigital’s dividend payout ratio is currently 13.00%.

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Several equities analysts have recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $100.00 price target on shares of InterDigital in a research report on Tuesday, June 13th. Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded InterDigital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, ValuEngine upgraded InterDigital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $92.50.

In related news, EVP James J. Nolan sold 2,294 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.30, for a total value of $163,562.20. Following the completion of the sale, the executive vice president now owns 54,042 shares in the company, valued at approximately $3,853,194.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lawrence F. Shay sold 8,000 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $85.88, for a total transaction of $687,040.00. Following the completion of the sale, the executive vice president now owns 48,458 shares of the company’s stock, valued at approximately $4,161,573.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,594 shares of company stock valued at $957,689. 1.90% of the stock is owned by corporate insiders.

InterDigital Company Profile

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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Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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