Allspring Global Investments Holdings LLC Has $3.78 Million Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Allspring Global Investments Holdings LLC raised its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 35.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,503 shares of the Wireless communications provider’s stock after buying an additional 9,263 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in InterDigital were worth $3,780,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Riverview Trust Co acquired a new stake in InterDigital in the 1st quarter worth $31,000. Quadrant Capital Group LLC grew its position in InterDigital by 11.6% in the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock valued at $107,000 after acquiring an additional 103 shares during the period. Inceptionr LLC acquired a new position in InterDigital during the fourth quarter worth $210,000. Meeder Asset Management Inc. bought a new stake in InterDigital during the fourth quarter worth about $211,000. Finally, Human Investing LLC bought a new stake in shares of InterDigital during the fourth quarter worth $217,000. 99.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Bank of America reiterated an “underperform” rating and issued a $100.00 price objective (down from $140.00) on shares of InterDigital in a research report on Monday, April 1st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $100.00 price target (down from $106.00) on shares of InterDigital in a research note on Monday, May 13th. Finally, StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th.

Insider Activity

In other news, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total value of $86,460.00. Following the sale, the director now directly owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the transaction, the insider now owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John D. Jr. Markley sold 750 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the transaction, the director now owns 12,202 shares of the company’s stock, valued at $1,406,646.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,749 shares of company stock valued at $282,883. 2.30% of the stock is owned by insiders.

InterDigital Stock Up 0.9 %

Shares of IDCC traded up $1.10 on Tuesday, hitting $117.38. The company’s stock had a trading volume of 26,683 shares, compared to its average volume of 487,232. The firm’s fifty day moving average price is $110.66 and its 200-day moving average price is $106.84. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $119.86. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.01 and a beta of 1.42.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.06. The firm had revenue of $263.54 million during the quarter, compared to analysts’ expectations of $250.15 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. On average, equities research analysts expect that InterDigital, Inc. will post 6.65 EPS for the current year.

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. InterDigital’s dividend payout ratio is 23.53%.

About InterDigital

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.