Edgestream Partners L.P. Increases Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Edgestream Partners L.P. increased its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 118.5% in the 1st quarter, HoldingsChannel reports. The firm owned 13,361 shares of the Wireless communications provider’s stock after purchasing an additional 7,245 shares during the period. Edgestream Partners L.P.’s holdings in InterDigital were worth $1,422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in IDCC. Riverview Trust Co purchased a new position in InterDigital during the first quarter worth about $31,000. Palisade Asset Management LLC purchased a new position in InterDigital during the first quarter worth about $64,000. Quadrant Capital Group LLC grew its position in InterDigital by 11.6% during the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock worth $107,000 after buying an additional 103 shares during the period. Arkadios Wealth Advisors acquired a new position in InterDigital during the first quarter worth about $208,000. Finally, Inceptionr LLC acquired a new position in InterDigital during the fourth quarter worth about $210,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Bank of America reissued an “underperform” rating and set a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. Finally, Jefferies Financial Group reissued a “hold” rating and set a $100.00 price objective (down previously from $106.00) on shares of InterDigital in a research note on Monday, May 13th.

InterDigital Trading Up 0.2 %

NASDAQ:IDCC traded up $0.19 during trading hours on Tuesday, reaching $123.43. 15,066 shares of the company were exchanged, compared to its average volume of 474,482. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.05 and a beta of 1.42. InterDigital, Inc. has a 52-week low of $74.65 and a 52-week high of $124.45. The stock has a 50 day simple moving average of $116.32 and a 200 day simple moving average of $108.16.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.06. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The company had revenue of $263.54 million for the quarter, compared to the consensus estimate of $250.15 million. As a group, analysts predict that InterDigital, Inc. will post 6.65 EPS for the current year.

InterDigital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Wednesday, July 10th. InterDigital’s dividend payout ratio is presently 23.53%.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the sale, the chief technology officer now directly owns 64,517 shares of the company’s stock, valued at approximately $6,701,380.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the sale, the chief technology officer now directly owns 64,517 shares of the company’s stock, valued at approximately $6,701,380.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John D. Jr. Markley sold 750 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total transaction of $86,460.00. Following the transaction, the director now directly owns 12,202 shares of the company’s stock, valued at $1,406,646.56. The disclosure for this sale can be found here. Company 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.