Strs Ohio Invests $1.07 Million in InterDigital, Inc. (NASDAQ:IDCC)

Strs Ohio bought a new stake in InterDigital, Inc. (NASDAQ:IDCC) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,900 shares of the Wireless communications provider’s stock, valued at approximately $1,074,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new stake in InterDigital in the 4th quarter valued at approximately $1,400,000. Allspring Global Investments Holdings LLC grew its stake in InterDigital by 3.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,240 shares of the Wireless communications provider’s stock valued at $2,848,000 after purchasing an additional 815 shares in the last quarter. International Assets Investment Management LLC bought a new position in InterDigital in the fourth quarter valued at approximately $9,012,000. Meeder Asset Management Inc. bought a new position in InterDigital in the fourth quarter valued at approximately $211,000. Finally, New York State Teachers Retirement System grew its stake in InterDigital by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 28,896 shares of the Wireless communications provider’s stock valued at $3,136,000 after purchasing an additional 262 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Stock Performance

Shares of NASDAQ IDCC opened at $98.93 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. InterDigital, Inc. has a 12 month low of $66.82 and a 12 month high of $119.86. The stock has a 50 day moving average of $103.50 and a 200-day moving average of $99.76. The company has a market capitalization of $2.52 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.79 and a beta of 1.34.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The company had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. As a group, equities research analysts predict that InterDigital, Inc. will post 7.02 EPS for the current year.

InterDigital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.62%. InterDigital’s payout ratio is currently 21.33%.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the transaction, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the transaction, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the transaction, the insider now directly owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Bank of America restated an “underperform” rating and issued a $100.00 price target (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.