Comerica Bank Lowers Stake in InterDigital Wireless Inc (NASDAQ:IDCC)

Comerica Bank lowered its position in shares of InterDigital Wireless Inc (NASDAQ:IDCC) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,776 shares of the Wireless communications provider’s stock after selling 521 shares during the quarter. Comerica Bank owned 0.06% of InterDigital Wireless worth $981,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in IDCC. Invesco Ltd. raised its position in shares of InterDigital Wireless by 566.2% during the second quarter. Invesco Ltd. now owns 530,450 shares of the Wireless communications provider’s stock valued at $34,161,000 after buying an additional 450,831 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of InterDigital Wireless during the second quarter valued at approximately $14,328,000. D. E. Shaw & Co. Inc. raised its position in shares of InterDigital Wireless by 30.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 867,162 shares of the Wireless communications provider’s stock valued at $55,845,000 after buying an additional 201,100 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of InterDigital Wireless by 11.0% during the second quarter. Renaissance Technologies LLC now owns 1,236,967 shares of the Wireless communications provider’s stock valued at $79,661,000 after buying an additional 122,700 shares during the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of InterDigital Wireless by 43.2% during the third quarter. Boston Trust Walden Corp now owns 244,635 shares of the Wireless communications provider’s stock valued at $12,836,000 after buying an additional 73,804 shares during the last quarter. Hedge funds and other institutional investors own 72.66% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and set a $80.00 price objective (down previously from $90.00) on shares of InterDigital Wireless in a research report on Friday, August 2nd. BidaskClub upgraded shares of InterDigital Wireless from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 10th. Finally, ValuEngine upgraded shares of InterDigital Wireless from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. InterDigital Wireless currently has an average rating of “Buy” and a consensus price target of $80.00.

InterDigital Wireless stock opened at $58.18 on Tuesday. The stock has a market cap of $1.76 billion, a P/E ratio of 32.14, a PEG ratio of 8.78 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.06 and a quick ratio of 3.06. InterDigital Wireless Inc has a 1 year low of $47.02 and a 1 year high of $76.43. The firm’s 50 day moving average price is $54.96 and its 200-day moving average price is $59.13.

InterDigital Wireless (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, October 31st. The Wireless communications provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.27. InterDigital Wireless had a net margin of 3.08% and a return on equity of 1.07%. The firm had revenue of $72.52 million for the quarter, compared to analysts’ expectations of $72.82 million. During the same quarter last year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, equities analysts expect that InterDigital Wireless Inc will post 0.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Tuesday, October 8th. InterDigital Wireless’s dividend payout ratio is presently 77.35%.

About InterDigital Wireless

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks.

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Institutional Ownership by Quarter for InterDigital Wireless (NASDAQ:IDCC)

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