InterDigital, Inc. (NASDAQ:IDCC) Stock Position Lifted by Natixis

Natixis lifted its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 3,547.6% in the 1st quarter, HoldingsChannel reports. The firm owned 38,300 shares of the Wireless communications provider’s stock after purchasing an additional 37,250 shares during the quarter. Natixis’ holdings in InterDigital were worth $4,077,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Riverview Trust Co acquired a new stake in shares of InterDigital in the first quarter valued at $31,000. Palisade Asset Management LLC acquired a new stake in shares of InterDigital in the first quarter valued at $64,000. Quadrant Capital Group LLC lifted its holdings in shares of 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 buying an additional 103 shares during the period. Inceptionr LLC acquired a new stake in shares of InterDigital in the fourth quarter valued at $210,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of InterDigital in the fourth quarter valued at $211,000. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Performance

Shares of IDCC stock opened at $121.56 on Friday. The firm has a market cap of $3.07 billion, a P/E ratio of 17.69, a PEG ratio of 1.05 and a beta of 1.42. The stock’s 50-day moving average is $117.14 and its two-hundred day moving average is $108.47. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $124.45.

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, beating analysts’ consensus estimates of $3.16 by $0.06. The firm had revenue of $263.54 million for the quarter, compared to analyst estimates of $250.15 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. Analysts predict that InterDigital, Inc. will post 6.64 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. InterDigital’s dividend payout ratio is currently 23.53%.

Wall Street Analyst Weigh In

IDCC has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $100.00 target price (down from $106.00) on shares of InterDigital in a report on Monday, May 13th. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Bank of America reaffirmed an “underperform” rating and set a $100.00 target price (down from $140.00) on shares of InterDigital in a report on Monday, April 1st.

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $103.87, for a total value of $67,515.50. Following the completion of the sale, the chief technology officer now owns 64,517 shares in the company, valued at approximately $6,701,380.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $103.87, for a total value of $67,515.50. Following the completion of the sale, the chief technology officer now owns 64,517 shares in the company, valued at approximately $6,701,380.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John D. Jr. Markley sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the sale, the director now owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

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.