Cardinal Capital Management Increases Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Cardinal Capital Management grew its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 10.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 13,888 shares of the Wireless communications provider’s stock after acquiring an additional 1,291 shares during the period. Cardinal Capital Management’s holdings in InterDigital were worth $1,967,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Simplicity Wealth LLC lifted its position in shares of InterDigital by 1.5% in the third quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock valued at $665,000 after acquiring an additional 69 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of InterDigital by 2.0% in the second quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock valued at $536,000 after acquiring an additional 90 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 109 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after acquiring an additional 124 shares in the last quarter. Finally, Juncture Wealth Strategies LLC lifted its position in shares of InterDigital by 1.4% in the second quarter. Juncture Wealth Strategies LLC now owns 9,943 shares of the Wireless communications provider’s stock valued at $1,159,000 after acquiring an additional 134 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares in the company, valued at $2,813,102.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares of the company’s stock, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,205 shares of company stock valued at $716,218 over the last ninety days. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

IDCC has been the topic of several research analyst reports. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a research report on Tuesday. Roth Mkm lifted their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

InterDigital Trading Down 0.7 %

Shares of IDCC stock opened at $155.69 on Friday. InterDigital, Inc. has a 12-month low of $74.65 and a 12-month high of $157.50. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $139.52 and its 200-day moving average price is $121.87. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 0.94 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The firm had revenue of $223.49 million for the quarter, compared to analysts’ expectations of $95.63 million. Equities research analysts predict that InterDigital, Inc. will post 9.04 EPS for the current fiscal year.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.45 per share. This is a boost from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.16%. The ex-dividend date is Wednesday, October 9th. InterDigital’s payout ratio is presently 26.47%.

About InterDigital

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.