Duality Advisers LP Buys Shares of 2,183 InterDigital, Inc. (NASDAQ:IDCC)

Duality Advisers LP bought a new stake in InterDigital, Inc. (NASDAQ:IDCC) during the 4th quarter, Holdings Channel.com reports. The fund bought 2,183 shares of the Wireless communications provider’s stock, valued at approximately $237,000.

Other large investors have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of InterDigital during the third quarter worth about $68,000. Parkside Financial Bank & Trust lifted its holdings in InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after acquiring an additional 114 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in InterDigital by 12.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after acquiring an additional 143 shares during the period. Meeder Asset Management Inc. acquired a new position in InterDigital in the fourth quarter valued at approximately $211,000. Finally, Cohen Klingenstein LLC acquired a new position in InterDigital in the fourth quarter valued at approximately $230,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction 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 filing with the SEC, which is available at this link. In related news, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction on Wednesday, April 3rd. The stock was 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 approximately $2,871,567.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction on Friday, April 5th. The shares were 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 $6,190,634.87. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

InterDigital Trading Up 0.8 %

Shares of IDCC stock opened at $100.71 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.82 and a beta of 1.34. The stock has a 50 day simple moving average of $103.07 and a 200-day simple moving average of $99.76. InterDigital, Inc. has a 1-year low of $66.82 and a 1-year high of $119.86.

InterDigital (NASDAQ:IDCC) last announced its earnings results 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. The business had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. On average, equities research analysts expect that InterDigital, Inc. will post 7.02 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital’s payout ratio is 21.33%.

Analysts Set New Price Targets

A number of brokerages have issued reports on IDCC. Bank of America reissued an “underperform” rating and issued a $100.00 price target (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th.

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.