Arizona State Retirement System Has $801,000 Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Arizona State Retirement System lessened its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,382 shares of the Wireless communications provider’s stock after selling 233 shares during the period. Arizona State Retirement System’s holdings in InterDigital were worth $801,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in shares of InterDigital in the 2nd quarter worth about $39,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in InterDigital in the 3rd quarter valued at about $68,000. Parkside Financial Bank & Trust increased its stake in InterDigital by 12.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after buying an additional 114 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in InterDigital by 12.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after buying an additional 143 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in InterDigital in the 2nd quarter valued at about $132,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Trading Down 0.8 %

Shares of IDCC stock opened at $96.01 on Thursday. The company has a 50 day moving average of $104.01 and a 200-day moving average of $99.15. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. InterDigital, Inc. has a 12-month low of $66.82 and a 12-month high of $119.86. The firm has a market cap of $2.45 billion, a P/E ratio of 12.80, a PEG ratio of 0.78 and a beta of 1.34.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. The company had revenue of $105.52 million during the quarter, compared to analyst estimates of $104.31 million. Sell-side analysts anticipate that InterDigital, Inc. will post 7.13 earnings per share for the current year.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.60 annualized dividend and a dividend yield of 1.67%. InterDigital’s payout ratio is currently 21.33%.

Insider Activity at InterDigital

In related news, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the transaction, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the transaction, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the transaction, the chief technology officer now owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on IDCC. Bank of America reiterated an “underperform” rating and issued a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th.

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.