Louisiana State Employees Retirement System Takes Position in InterDigital, Inc. (NASDAQ:IDCC)

Louisiana State Employees Retirement System purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,200 shares of the Wireless communications provider’s stock, valued at approximately $574,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC increased its stake in shares of InterDigital by 49.0% in the second quarter. Lazard Asset Management LLC now owns 1,998 shares of the Wireless communications provider’s stock valued at $121,000 after buying an additional 657 shares during the period. Nisa Investment Advisors LLC grew its stake in InterDigital by 17.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,106 shares of the Wireless communications provider’s stock worth $128,000 after purchasing an additional 320 shares during the period. Point72 Hong Kong Ltd acquired a new stake in InterDigital during the second quarter worth approximately $132,000. Sawtooth Solutions LLC acquired a new stake in InterDigital during the second quarter worth approximately $227,000. Finally, 1492 Capital Management LLC acquired a new stake in InterDigital during the second quarter worth approximately $238,000. Institutional investors and hedge funds own 83.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IDCC. StockNews.com began coverage on InterDigital in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Jefferies Financial Group began coverage on InterDigital in a research note on Friday, December 9th. They set a “buy” rating and a $80.00 target price for the company. Finally, TheStreet cut InterDigital from a “b-” rating to a “c+” rating in a research note on Friday, September 16th.

InterDigital Stock Up 0.3 %

Shares of NASDAQ:IDCC opened at $58.28 on Monday. The business’s 50 day simple moving average is $49.82 and its two-hundred day simple moving average is $52.00. The firm has a market cap of $1.73 billion, a P/E ratio of 21.51, a PEG ratio of 1.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.86, a quick ratio of 4.66 and a current ratio of 4.66. InterDigital, Inc. has a 52-week low of $40.23 and a 52-week high of $71.89.

InterDigital (NASDAQ:IDCC – Get Rating) last posted its earnings results on Thursday, November 3rd. The Wireless communications provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.30. InterDigital had a return on equity of 11.47% and a net margin of 18.38%. The company had revenue of $114.76 million for the quarter, compared to analyst estimates of $113.50 million. As a group, research analysts forecast that InterDigital, Inc. will post 2.57 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 11th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, January 10th. This represents a $1.40 dividend on an annualized basis and a yield of 2.40%. InterDigital’s dividend payout ratio (DPR) is currently 51.66%.

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.