Louisiana State Employees Retirement System Buys New Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Louisiana State Employees Retirement System bought a new stake in InterDigital, Inc. (NASDAQ:IDCC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,900 shares of the Wireless communications provider’s stock, valued at approximately $1,400,000. Louisiana State Employees Retirement System owned about 0.05% of InterDigital as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in InterDigital by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,411,704 shares of the Wireless communications provider’s stock valued at $217,667,000 after purchasing an additional 49,177 shares during the last quarter. Pacer Advisors Inc. lifted its stake in InterDigital by 220.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock valued at $125,014,000 after purchasing an additional 792,868 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in InterDigital by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,031,916 shares of the Wireless communications provider’s stock valued at $75,226,000 after purchasing an additional 65,217 shares during the last quarter. Renaissance Technologies LLC lifted its position in InterDigital by 1.1% during the first quarter. Renaissance Technologies LLC now owns 706,467 shares of the Wireless communications provider’s stock worth $45,073,000 after acquiring an additional 7,993 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in InterDigital by 7.4% during the third quarter. Boston Trust Walden Corp now owns 666,935 shares of the Wireless communications provider’s stock worth $53,515,000 after acquiring an additional 46,181 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America restated an “underperform” rating and set a $100.00 price objective (down from $140.00) on shares of InterDigital in a research report on Monday, April 1st.

InterDigital Trading Up 1.0 %

Shares of IDCC stock opened at $96.63 on Monday. The firm has a 50 day moving average price of $103.69 and a two-hundred day moving average price of $99.50. 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 company has a market capitalization of $2.46 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34. InterDigital, Inc. has a 12-month low of $66.82 and a 12-month high of $119.86.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 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 for the quarter, compared to analysts’ expectations of $104.31 million. As a group, analysts predict that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th will be issued 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 1.66%. InterDigital’s dividend payout ratio is presently 21.33%.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 650 shares of the firm’s 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 transaction, the chief technology officer now directly owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 directly owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The sale 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 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 transaction of $66,943.23. Following the completion of the transaction, the insider now directly owns 29,984 shares in the company, valued at $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.