Rhumbline Advisers trimmed its stake in shares of InterDigital Wireless Inc (NASDAQ:IDCC) by 17.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,155 shares of the Wireless communications provider’s stock after selling 21,110 shares during the quarter. Rhumbline Advisers’ holdings in InterDigital Wireless were worth $5,360,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in shares of InterDigital Wireless during the 2nd quarter valued at $26,000. Tower Research Capital LLC TRC raised its stake in shares of InterDigital Wireless by 6,828.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 485 shares of the Wireless communications provider’s stock valued at $31,000 after purchasing an additional 478 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of InterDigital Wireless during the 2nd quarter valued at $38,000. US Bancorp DE raised its stake in shares of InterDigital Wireless by 79.1% during the 2nd quarter. US Bancorp DE now owns 1,112 shares of the Wireless communications provider’s stock valued at $72,000 after purchasing an additional 491 shares during the period. Finally, Wealthcare Capital Management LLC raised its stake in shares of InterDigital Wireless by 190.5% during the 2nd quarter. Wealthcare Capital Management LLC now owns 1,525 shares of the Wireless communications provider’s stock valued at $98,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 73.27% of the company’s stock.
IDCC has been the topic of a number of research analyst reports. B. Riley restated a “buy” rating and issued a $80.00 target price (down from $90.00) on shares of InterDigital Wireless in a research note on Friday, August 2nd. ValuEngine upgraded InterDigital Wireless from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, BidaskClub upgraded InterDigital Wireless from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $80.00.
Shares of NASDAQ IDCC opened at $56.63 on Thursday. The firm has a market capitalization of $1.83 billion, a P/E ratio of 218.15, a P/E/G ratio of 10.96 and a beta of 1.01. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $53.98 and its two-hundred day simple moving average is $59.61. InterDigital Wireless Inc has a twelve month low of $47.02 and a twelve month high of $77.88.
InterDigital Wireless (NASDAQ:IDCC) last announced its earnings results on Thursday, October 31st. The Wireless communications provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.27. The business had revenue of $72.52 million for the quarter, compared to analyst estimates of $72.82 million. InterDigital Wireless had a return on equity of 1.07% and a net margin of 3.08%. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. As a group, research analysts anticipate that InterDigital Wireless Inc will post 0.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a $0.35 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $1.40 dividend on an annualized basis and a yield of 2.47%. InterDigital Wireless’s dividend payout ratio is currently 77.35%.
About InterDigital Wireless
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides 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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