Assenagon Asset Management S.A. Sells 74,652 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Assenagon Asset Management S.A. lessened its position in shares of InterDigital, Inc. (NASDAQ:IDCCGet Rating) by 69.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 33,424 shares of the Wireless communications provider’s stock after selling 74,652 shares during the quarter. Assenagon Asset Management S.A.’s holdings in InterDigital were worth $1,351,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IDCC. Boston Trust Walden Corp increased its holdings in InterDigital by 33.6% in the third quarter. Boston Trust Walden Corp now owns 543,536 shares of the Wireless communications provider’s stock worth $21,970,000 after purchasing an additional 136,772 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of InterDigital by 21.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 124,423 shares of the Wireless communications provider’s stock valued at $7,564,000 after acquiring an additional 21,829 shares in the last quarter. Lazard Asset Management LLC boosted its stake in InterDigital by 49.0% during the second quarter. Lazard Asset Management LLC now owns 1,998 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 657 shares in the last quarter. Pacer Advisors Inc. grew its holdings in InterDigital by 382,036.4% in the third quarter. Pacer Advisors Inc. now owns 84,070 shares of the Wireless communications provider’s stock worth $3,398,000 after purchasing an additional 84,048 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in InterDigital by 607.9% in the second quarter. Teacher Retirement System of Texas now owns 44,521 shares of the Wireless communications provider’s stock valued at $2,707,000 after purchasing an additional 38,232 shares in the last quarter. 83.97% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $59.25 on Friday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 1.11 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 fifty-two week low of $40.23 and a fifty-two week high of $71.73. The firm’s 50-day simple moving average is $50.89 and its 200 day simple moving average is $51.94.

InterDigital (NASDAQ:IDCCGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The Wireless communications provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.44 by $0.30. The firm had revenue of $114.76 million during the quarter, compared to the consensus estimate of $113.50 million. InterDigital had a return on equity of 11.47% and a net margin of 18.38%. As a group, research analysts anticipate that InterDigital, Inc. will post 2.57 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 11th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 10th. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. InterDigital’s payout ratio is 51.66%.

Analyst Upgrades and Downgrades

IDCC has been the subject of several research reports. StockNews.com initiated coverage on InterDigital in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Jefferies Financial Group assumed coverage on InterDigital in a report on Friday, December 9th. They set a “buy” rating and a $80.00 price objective for the company.

About InterDigital

(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.

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Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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