Nisa Investment Advisors LLC increased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,760 shares of the Wireless communications provider’s stock after buying an additional 50 shares during the period. Nisa Investment Advisors LLC’s holdings in InterDigital were worth $461,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Tyers Asset Management LLC increased its position in shares of 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. Elkfork Partners LLC increased its position in shares of 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. Meadow Creek Investment Management LLC increased its position in shares of InterDigital by 2.8% in the first quarter. Meadow Creek Investment Management LLC now owns 2,044 shares of the Wireless communications provider’s stock worth $176,000 after buying an additional 56 shares during the period. Glen Harbor Capital Management LLC increased its position in shares of InterDigital by 2.8% in the first quarter. Glen Harbor Capital Management LLC now owns 2,482 shares of the Wireless communications provider’s stock worth $214,000 after buying an additional 68 shares during the period. Finally, State Treasurer State of Michigan increased its position in shares of InterDigital by 0.7% in the first quarter. State Treasurer State of Michigan now owns 13,900 shares of the Wireless communications provider’s stock worth $1,200,000 after buying an additional 100 shares during the period. 69.33% of the stock is owned by hedge funds and other institutional investors.

InterDigital, Inc. (NASDAQ:IDCC) traded up 1.15% during trading on Friday, reaching $70.45. The company had a trading volume of 130,649 shares. The company has a 50-day moving average of $76.53 and a 200-day moving average of $84.30. The firm has a market capitalization of $2.45 billion, a P/E ratio of 7.68 and a beta of 1.00. InterDigital, Inc. has a 52-week low of $67.04 and a 52-week high of $102.30.

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

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Wednesday, July 12th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, July 10th. This represents a $1.20 annualized dividend and a dividend yield of 1.72%. InterDigital’s dividend payout ratio is currently 13.00%.

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A number of brokerages have recently issued reports on IDCC. B. Riley reissued a “buy” rating and set a $100.00 target price on shares of InterDigital in a research note on Tuesday, June 13th. ValuEngine downgraded InterDigital from a “strong-buy” rating to a “buy” rating in a research note on Friday. Sidoti raised InterDigital from a “neutral” rating to a “buy” rating in a research note on Tuesday. Finally, Zacks Investment Research raised InterDigital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $92.50.

In other InterDigital news, Director Jeffrey K. Belk sold 800 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $84.39, for a total value of $67,512.00. Following the transaction, the director now owns 17,801 shares of the company’s stock, valued at $1,502,226.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the executive vice president now directly owns 54,042 shares in the company, valued at approximately $3,853,194.60. The disclosure for this sale can be found here. Insiders sold 3,594 shares of company stock worth $270,649 in the last ninety days. 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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