InterDigital, Inc. (NASDAQ:IDCC) Shares Purchased by Assetmark Inc.

Assetmark Inc. increased its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1,647,900.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,480 shares of the Wireless communications provider’s stock after purchasing an additional 16,479 shares during the period. Assetmark Inc. owned 0.06% of InterDigital worth $1,789,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in InterDigital by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,343,395 shares of the Wireless communications provider’s stock worth $268,274,000 after purchasing an additional 72,720 shares during the period. Pacer Advisors Inc. lifted its stake in shares of InterDigital by 220.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after acquiring an additional 792,868 shares during the period. Shannon River Fund Management LLC lifted its stake in shares of InterDigital by 3.9% in the 3rd quarter. Shannon River Fund Management LLC now owns 642,265 shares of the Wireless communications provider’s stock worth $51,535,000 after acquiring an additional 23,815 shares during the period. Capital Management Corp VA lifted its stake in shares of InterDigital by 12.1% in the 4th quarter. Capital Management Corp VA now owns 237,654 shares of the Wireless communications provider’s stock worth $25,795,000 after acquiring an additional 25,601 shares during the period. Finally, Norges Bank acquired a new stake in shares of InterDigital in the 4th quarter worth $18,987,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Stock Up 1.0 %

Shares of NASDAQ IDCC opened at $110.97 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04. InterDigital, Inc. has a 52 week low of $74.65 and a 52 week high of $119.86. The firm has a 50-day moving average price of $102.37 and a 200 day moving average price of $103.78. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 0.94 and a beta of 1.35.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $3.22 EPS for the quarter, beating the consensus estimate of $3.16 by $0.06. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The firm had revenue of $263.54 million during the quarter, compared to analysts’ expectations of $250.15 million. Equities research analysts anticipate that InterDigital, Inc. will post 6.79 EPS for the current fiscal year.

InterDigital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is 23.53%.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were 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 $6,190,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction dated 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 directly owns 64,939 shares in the company, valued at approximately $6,190,634.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,871,567.68. The disclosure for this sale can be found here. Insiders sold 1,999 shares of company stock worth $196,423 over the last 90 days. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

IDCC has been the subject of several recent analyst reports. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Jefferies Financial Group restated a “hold” rating and issued a $100.00 target price (down previously from $106.00) on shares of InterDigital in a research note on Monday, May 13th. Finally, 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.

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.