Los Angeles Capital Management LLC Sells 500 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Los Angeles Capital Management LLC trimmed its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,516 shares of the Wireless communications provider’s stock after selling 500 shares during the quarter. Los Angeles Capital Management LLC owned 0.13% of InterDigital worth $3,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in InterDigital during the 3rd quarter valued at approximately $68,000. Parkside Financial Bank & Trust raised its holdings in shares of InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after purchasing an additional 114 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of InterDigital by 12.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after purchasing an additional 143 shares in the last quarter. Larson Financial Group LLC boosted its holdings in 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 bought a new stake in InterDigital in the 3rd quarter worth about $203,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at InterDigital

In other InterDigital news, 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 value of $66,943.23. Following the sale, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the sale, the chief technology officer now owns 64,939 shares in the company, valued at approximately $6,190,634.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction, the insider now owns 29,984 shares in the company, valued at $2,871,567.68. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IDCC shares. Bank of America restated an “underperform” rating and issued a $100.00 target price (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Monday, April 29th.

InterDigital Stock Performance

Shares of IDCC stock opened at $103.64 on Monday. InterDigital, Inc. has a 52 week low of $67.68 and a 52 week high of $119.86. The firm’s 50-day simple moving average is $101.75 and its two-hundred day simple moving average is $100.89. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 0.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The business had revenue of $105.52 million for the quarter, compared to the consensus estimate of $104.31 million. As a group, equities analysts forecast that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital’s dividend payout ratio is presently 23.53%.

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.