Los Angeles Capital Management LLC Sells 500 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Los Angeles Capital Management LLC decreased its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 1.5% during the 4th quarter, HoldingsChannel reports. The firm owned 33,516 shares of the Wireless communications provider’s stock after selling 500 shares during the quarter. Los Angeles Capital Management LLC’s holdings in InterDigital were worth $3,638,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brown Advisory Inc. raised its stake in InterDigital by 0.8% during the third quarter. Brown Advisory Inc. now owns 36,839 shares of the Wireless communications provider’s stock worth $2,956,000 after acquiring an additional 299 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of InterDigital by 2.1% during the third quarter. New York State Teachers Retirement System now owns 28,634 shares of the Wireless communications provider’s stock worth $2,298,000 after buying an additional 596 shares in the last quarter. Inspire Advisors LLC bought a new position in shares of InterDigital in the 3rd quarter valued at $356,000. Inspire Investing LLC boosted its holdings in shares of InterDigital by 17.9% during the 3rd quarter. Inspire Investing LLC now owns 3,839 shares of the Wireless communications provider’s stock valued at $308,000 after acquiring an additional 582 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in InterDigital by 49.1% in the 3rd quarter. TD Asset Management Inc now owns 8,500 shares of the Wireless communications provider’s stock worth $682,000 after purchasing an additional 2,800 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

InterDigital Price Performance

Shares of IDCC opened at $103.64 on Monday. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. The business has a 50-day moving average of $101.75 and a 200-day moving average of $100.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. InterDigital, Inc. has a 1 year low of $67.68 and a 1 year high of $119.86.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The company had revenue of $105.52 million during the quarter, compared to analysts’ expectations of $104.31 million. As a group, equities research analysts anticipate that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Insider Activity

In other news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the sale, the chief technology officer now 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 SEC, which is accessible through this link. In other news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the transaction, the chief technology officer now owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America restated an “underperform” rating and set a $100.00 price target (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Monday, April 29th.

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.