Illinois Municipal Retirement Fund Reduces Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Illinois Municipal Retirement Fund lowered its position in InterDigital, Inc. (NASDAQ:IDCC) by 7.5% during the 4th quarter, HoldingsChannel reports. The fund owned 14,948 shares of the Wireless communications provider’s stock after selling 1,206 shares during the period. Illinois Municipal Retirement Fund’s holdings in InterDigital were worth $1,622,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of InterDigital during the 3rd quarter worth approximately $68,000. Parkside Financial Bank & Trust increased its stake in InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after purchasing an additional 114 shares during the period. DekaBank Deutsche Girozentrale increased its stake in InterDigital by 12.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after purchasing an additional 143 shares during the period. Larson Financial Group LLC lifted its position in shares of InterDigital by 14.7% during the third quarter. Larson Financial Group LLC now owns 2,165 shares of the Wireless communications provider’s stock worth $174,000 after purchasing an additional 278 shares during the last quarter. Finally, Precision Wealth Strategies LLC purchased a new stake in shares of InterDigital during the third quarter valued at $203,000. Institutional investors own 99.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America reaffirmed an “underperform” rating and issued a $100.00 price target (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 report on Tuesday, March 19th.

InterDigital Trading Up 0.8 %

Shares of NASDAQ IDCC opened at $100.71 on Friday. InterDigital, Inc. has a twelve month low of $66.82 and a twelve month high of $119.86. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $103.07 and a two-hundred day simple moving average of $99.76. The firm has a market cap of $2.56 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates 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. Analysts expect that InterDigital, Inc. will post 7.02 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. InterDigital’s dividend payout ratio is presently 21.33%.

Insider Activity

In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the sale, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, 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 value of $61,964.50. Following the transaction, the chief technology officer now owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction of $66,943.23. Following the sale, the insider now directly owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

InterDigital Profile

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.