Waters Parkerson & CO. LLC continued to hold its position in InterDigital, Inc. (NASDAQ:IDCC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,077 shares of the Wireless communications provider’s stock at the end of the second quarter. Waters Parkerson & CO. LLC’s holdings in InterDigital were worth $779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OxFORD Asset Management LLP lifted its stake in shares of InterDigital by 118.3% in the 2nd quarter. OxFORD Asset Management LLP now owns 37,183 shares of the Wireless communications provider’s stock valued at $2,874,000 after purchasing an additional 20,152 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of InterDigital by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 923,558 shares of the Wireless communications provider’s stock valued at $71,394,000 after purchasing an additional 37,058 shares during the period. Renaissance Technologies LLC lifted its stake in shares of InterDigital by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 574,574 shares of the Wireless communications provider’s stock valued at $44,415,000 after purchasing an additional 98,874 shares during the period. Advisor Group Inc. lifted its stake in shares of InterDigital by 29.5% in the 2nd quarter. Advisor Group Inc. now owns 2,342 shares of the Wireless communications provider’s stock valued at $181,000 after purchasing an additional 534 shares during the period. Finally, Quantbot Technologies LP lifted its stake in shares of InterDigital by 165.6% in the 2nd quarter. Quantbot Technologies LP now owns 21,318 shares of the Wireless communications provider’s stock valued at $1,647,000 after purchasing an additional 13,292 shares during the period. Institutional investors own 70.97% of the company’s stock.

In other InterDigital news, EVP Scott A. Mcquilkin sold 500 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $79.15, for a total transaction of $39,575.00. Following the sale, the executive vice president now owns 79,768 shares of the company’s stock, valued at approximately $6,313,637.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James J. Nolan sold 2,294 shares of the 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 sale, 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. 1.90% of the stock is currently owned by company insiders.

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InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. The business 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 business’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, October 10th. This is a boost from InterDigital’s previous quarterly dividend of $0.30. InterDigital’s dividend payout ratio (DPR) is 13.00%.

InterDigital announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 14th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the Wireless communications provider to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

A number of research analysts have recently commented on IDCC shares. B. Riley restated a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research note on Tuesday, June 13th. Zacks Investment Research upgraded InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Friday, August 18th. ValuEngine cut InterDigital from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, BidaskClub cut 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, three have given a hold rating and four have assigned a buy rating to the company’s stock. InterDigital has a consensus rating of “Hold” and a consensus target price of $87.75.

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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