Bank of Montreal Can Increases Holdings in InterDigital, Inc. $IDCC

Bank of Montreal Can boosted its position in InterDigital, Inc. (NASDAQ:IDCC) by 0.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 109,222 shares of the Wireless communications provider’s stock after purchasing an additional 911 shares during the period. Bank of Montreal Can’s holdings in InterDigital were worth $24,491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of IDCC. Banque Transatlantique SA acquired a new stake in InterDigital during the 1st quarter valued at approximately $33,000. Headlands Technologies LLC purchased a new position in shares of InterDigital during the first quarter worth $35,000. Concord Wealth Partners purchased a new position in shares of InterDigital during the first quarter worth $37,000. Global Wealth Strategies & Associates acquired a new position in InterDigital during the second quarter valued at $38,000. Finally, Quarry LP boosted its holdings in InterDigital by 642.9% in the first quarter. Quarry LP now owns 208 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 180 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. William Blair reiterated an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Weiss Ratings upgraded InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research report on Tuesday, October 14th. Jefferies Financial Group set a $475.00 price target on InterDigital and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Roth Capital raised their price objective on shares of InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $412.50.

InterDigital Stock Performance

NASDAQ IDCC opened at $370.07 on Friday. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.88 and a beta of 1.45. InterDigital, Inc. has a twelve month low of $169.58 and a twelve month high of $412.60. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average of $345.69 and a 200 day moving average of $270.33.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, October 8th. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s dividend payout ratio is currently 18.89%.

Insider Buying and Selling

In other InterDigital news, insider Joshua D. Schmidt sold 466 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $395.63, for a total transaction of $184,363.58. Following the completion of the transaction, the insider directly owned 27,928 shares in the company, valued at approximately $11,049,154.64. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $261.03, for a total transaction of $261,030.00. Following the transaction, the chief technology officer directly owned 67,122 shares in the company, valued at approximately $17,520,855.66. The trade was a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,932 shares of company stock worth $1,575,838 in the last quarter. Insiders own 2.30% of the company’s stock.

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.