Sigma Planning Corp increased its stake in InterDigital, Inc. (NASDAQ:IDCC) by 62.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,960 shares of the Wireless communications provider’s stock after buying an additional 6,501 shares during the period. Sigma Planning Corp’s holdings in InterDigital were worth $1,311,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IDCC. Teachers Advisors LLC boosted its stake in shares of InterDigital by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 57,726 shares of the Wireless communications provider’s stock valued at $5,273,000 after buying an additional 1,524 shares during the last quarter. Capstone Asset Management Co. boosted its stake 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 last quarter. Louisiana State Employees Retirement System boosted its stake in shares of InterDigital by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 8,700 shares of the Wireless communications provider’s stock valued at $751,000 after buying an additional 200 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of InterDigital by 13.5% in the first quarter. Retirement Systems of Alabama now owns 101,290 shares of the Wireless communications provider’s stock valued at $8,741,000 after buying an additional 12,019 shares during the last quarter. Finally, Navellier & Associates Inc boosted its stake in shares of InterDigital by 7.6% in the first quarter. Navellier & Associates Inc now owns 12,965 shares of the Wireless communications provider’s stock valued at $1,119,000 after buying an additional 917 shares during the last quarter. Institutional investors and hedge funds own 69.33% of the company’s stock.

Shares of InterDigital, Inc. (NASDAQ IDCC) opened at 70.05 on Friday. InterDigital, Inc. has a 12 month low of $67.04 and a 12 month high of $102.30. The stock’s 50 day moving average is $76.21 and its 200 day moving average is $84.16. The stock has a market capitalization of $2.43 billion, a PE ratio of 7.64 and a beta of 1.00.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 12th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Monday, July 10th. InterDigital’s dividend payout ratio is currently 13.00%.

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IDCC has been the topic of several research analyst reports. B. Riley upgraded shares of InterDigital from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $100.00 in a research note on Monday, April 24th. Benchmark Co. initiated coverage on shares of InterDigital in a research note on Tuesday, April 25th. They issued a “hold” rating on the stock. Zacks Investment Research upgraded shares of InterDigital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine upgraded shares of InterDigital from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 25th. Finally, BidaskClub cut shares of InterDigital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. InterDigital has a consensus rating of “Hold” and a consensus target price of $92.50.

In other news, EVP James J. Nolan sold 2,294 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $71.30, for a total value of $163,562.20. Following the transaction, the executive vice president now directly owns 54,042 shares of the company’s stock, valued at $3,853,194.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott A. Mcquilkin sold 500 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $79.15, for a total transaction of $39,575.00. Following the completion of the transaction, the executive vice president now directly owns 79,768 shares in the company, valued at $6,313,637.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,594 shares of company stock worth $270,649. Insiders own 1.90% of the company’s stock.

About InterDigital

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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