Mutual of America Capital Management LLC Boosts Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Mutual of America Capital Management LLC raised its position in shares of InterDigital, Inc. (NASDAQ:IDCCGet Rating) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,421 shares of the Wireless communications provider’s stock after purchasing an additional 230 shares during the quarter. Mutual of America Capital Management LLC’s holdings in InterDigital were worth $282,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CWM LLC purchased a new stake in InterDigital during the 4th quarter valued at about $27,000. Evolution Advisers Inc. purchased a new stake in shares of InterDigital in the fourth quarter worth about $28,000. Cornerstone Advisory LLC purchased a new stake in shares of InterDigital in the fourth quarter worth about $29,000. Confluence Wealth Services Inc. purchased a new stake in shares of InterDigital in the fourth quarter worth about $43,000. Finally, Eaton Vance Management boosted its stake in shares of InterDigital by 13.2% in the fourth quarter. Eaton Vance Management now owns 2,201 shares of the Wireless communications provider’s stock worth $73,000 after buying an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.

Insider Activity at InterDigital

In related news, Director Jean F. Rankin sold 814 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $66.83, for a total value of $54,399.62. Following the completion of the transaction, the director now directly owns 28,441 shares in the company, valued at $1,900,712.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jean F. Rankin sold 814 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $66.83, for a total value of $54,399.62. Following the completion of the transaction, the director now directly owns 28,441 shares in the company, valued at $1,900,712.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eeva K. Hakoranta sold 1,595 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $61.44, for a total value of $97,996.80. Following the completion of the transaction, the insider now owns 20,608 shares of the company’s stock, valued at $1,266,155.52. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IDCC shares. Bank of America started coverage on InterDigital in a report on Monday, July 25th. They issued an “underperform” rating and a $60.00 price target for the company. StockNews.com cut InterDigital from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 2nd.

InterDigital Price Performance

NASDAQ:IDCC opened at $61.37 on Tuesday. InterDigital, Inc. has a one year low of $56.13 and a one year high of $75.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.24 and a current ratio of 3.24. The stock has a market cap of $1.89 billion, a PE ratio of 28.41, a P/E/G ratio of 1.48 and a beta of 0.98. The stock has a 50 day moving average price of $62.47 and a 200 day moving average price of $63.05.

InterDigital (NASDAQ:IDCCGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The Wireless communications provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.37 by $0.21. InterDigital had a return on equity of 10.55% and a net margin of 15.24%. The firm had revenue of $101.32 million during the quarter, compared to analysts’ expectations of $97.85 million. During the same quarter last year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities research analysts expect that InterDigital, Inc. will post 2.76 EPS for the current fiscal year.

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Wednesday, July 13th were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, July 12th. This represents a $1.40 annualized dividend and a dividend yield of 2.28%. InterDigital’s dividend payout ratio is presently 64.82%.

InterDigital Company Profile

(Get Rating)

InterDigital, Inc, together with its subsidiaries, designs and develops technologies that enable and enhance wireless communications in the United States, China, South Korea, Japan, Taiwan, and Europe. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.

Featured Articles

Want to see what other hedge funds are holding IDCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterDigital, Inc. (NASDAQ:IDCCGet Rating).

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

Want More Great Investing Ideas?

Receive News & Ratings for InterDigital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital and related companies with MarketBeat.com's FREE daily email newsletter.