3,430 Shares of InterDigital, Inc. $IDCC Acquired by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,430 shares of the Wireless communications provider’s stock, valued at approximately $1,118,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE bought a new stake in shares of InterDigital during the second quarter valued at approximately $46,953,000. Royal Bank of Canada raised its stake in InterDigital by 375.7% during the 1st quarter. Royal Bank of Canada now owns 199,655 shares of the Wireless communications provider’s stock valued at $60,297,000 after acquiring an additional 157,687 shares in the last quarter. Neumeier Poma Investment Counsel LLC bought a new stake in InterDigital during the 2nd quarter valued at $42,350,302. Arrowstreet Capital Limited Partnership raised its stake in InterDigital by 135.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 219,388 shares of the Wireless communications provider’s stock valued at $66,255,000 after acquiring an additional 126,328 shares in the last quarter. Finally, Summit Street Capital Management LLC acquired a new position in InterDigital during the 2nd quarter worth $18,163,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 1,500 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $307.38, for a total transaction of $461,070.00. Following the sale, the chief technology officer directly owned 62,050 shares of the company’s stock, valued at $19,072,929. The trade was a 2.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 4,500 shares of company stock worth $1,469,550. Insiders own 3.50% of the company’s stock.

InterDigital Price Performance

IDCC stock opened at $294.11 on Tuesday. InterDigital, Inc. has a one year low of $249.14 and a one year high of $387.30. The firm has a 50-day moving average of $326.92 and a two-hundred day moving average of $317.71. The firm has a market capitalization of $7.57 billion, a PE ratio of 32.39 and a beta of 1.50. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, October 29th. The Wireless communications provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $1.34 by $1.77. InterDigital had a net margin of 38.53% and a return on equity of 28.34%. The business had revenue of $193.43 million for the quarter, compared to the consensus estimate of $152.97 million. During the same period last year, the firm posted $1.93 earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, analysts forecast that InterDigital, Inc. will post 10.44 earnings per share for the current year.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 14th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Wednesday, October 14th. This is a positive change from InterDigital’s previous quarterly dividend of $0.70. InterDigital’s dividend payout ratio is presently 33.04%.

Analysts Set New Price Targets

A number of research analysts have recently commented on IDCC shares. Zacks Research lowered InterDigital from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Weiss Ratings lowered shares of InterDigital from a “buy (b)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $425.00.

About InterDigital

InterDigital, Inc is a technology research and development company whose work focuses on wireless communications, video and related digital technologies. Rather than selling consumer devices, the company develops technology and licenses its intellectual property to companies that make and use connected products and services.

Its research spans cellular communications, including technologies used in 4G and 5G networks, as well as Wi-Fi, video compression and other areas. InterDigital holds patents covering technologies incorporated into industry standards and licenses its portfolio to companies around the world.

Founded in 1972, InterDigital is headquartered in Wilmington, Delaware.