Renaissance Technologies LLC cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 16.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 416,995 shares of the Wireless communications provider’s stock after selling 79,198 shares during the period. Renaissance Technologies LLC owned 1.20% of InterDigital worth $33,735,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its stake in shares of InterDigital by 29.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 38,962 shares of the Wireless communications provider’s stock valued at $3,152,000 after buying an additional 8,961 shares during the period. Summit Global Investments purchased a new position in shares of InterDigital during the second quarter valued at approximately $655,000. Rhumbline Advisers increased its stake in shares of InterDigital by 2.6% during the second quarter. Rhumbline Advisers now owns 79,812 shares of the Wireless communications provider’s stock valued at $6,457,000 after buying an additional 1,990 shares during the period. SG Americas Securities LLC boosted its position in shares of InterDigital by 145.7% during the second quarter. SG Americas Securities LLC now owns 28,576 shares of the Wireless communications provider’s stock valued at $2,312,000 after purchasing an additional 16,945 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of InterDigital during the second quarter valued at approximately $533,000. 74.47% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ IDCC opened at $79.60 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 9.36 and a current ratio of 9.36. InterDigital, Inc. has a twelve month low of $69.32 and a twelve month high of $85.85. The company has a market cap of $2.79 billion, a P/E ratio of 15.21, a PEG ratio of 3.34 and a beta of 0.98.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, August 2nd. The Wireless communications provider reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.08. InterDigital had a return on equity of 19.85% and a net margin of 27.99%. The company had revenue of $69.56 million for the quarter, compared to analyst estimates of $64.39 million. During the same period in the previous year, the company posted $1.46 earnings per share. The firm’s revenue was down 48.8% on a year-over-year basis. research analysts predict that InterDigital, Inc. will post 1.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Wednesday, October 10th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.40 annualized dividend and a dividend yield of 1.76%. InterDigital’s dividend payout ratio is presently 23.10%.

Several equities research analysts recently weighed in on the company. ValuEngine upgraded InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. BidaskClub lowered InterDigital from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Zacks Investment Research lowered InterDigital from a “hold” rating to a “strong sell” rating in a research report on Monday, August 6th. National Securities assumed coverage on InterDigital in a research report on Monday, July 23rd. They set a “buy” rating and a $103.00 price target on the stock. Finally, Roth Capital assumed coverage on InterDigital in a research report on Tuesday, June 12th. They set a “buy” rating and a $104.00 price target on the stock. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $94.40.

About InterDigital

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.

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Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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