Today, Heartland Advisors Inc. Reduces Stake in InterDigital Inc. (IDCC)

Today, Heartland Advisors Inc. Reduces Stake in InterDigital Inc. (IDCC)
Heartland Advisors Inc. decreased its position in InterDigital Inc. (NASDAQ:IDCC) by 36.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 86,747 shares of the company’s stock after selling 50,000 shares during the period. Heartland Advisors Inc. owned 0.25% of InterDigital worth $6,870,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of InterDigital by 77.1% in the second quarter. Victory Capital Management Inc. now owns 1,801 shares of the company’s stock valued at $100,000 after buying an additional 784 shares during the period. HL Financial Services LLC increased its position in shares of InterDigital by 0.6% in the second quarter. HL Financial Services LLC now owns 4,755 shares of the company’s stock valued at $265,000 after buying an additional 27 shares during the period. Nomura Holdings Inc. increased its position in shares of InterDigital by 1,495.2% in the second quarter. Nomura Holdings Inc. now owns 143,660 shares of the company’s stock valued at $8,024,000 after buying an additional 134,654 shares during the period. Twin Capital Management Inc. bought a new position in shares of InterDigital during the second quarter valued at $1,556,000. Finally, Blair William & Co. IL increased its position in shares of InterDigital by 1.8% in the second quarter. Blair William & Co. IL now owns 11,069 shares of the company’s stock valued at $616,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 70.43% of the company’s stock.

Shares of InterDigital Inc. (NASDAQ:IDCC) traded up 0.43% during trading on Friday, reaching $81.15. The company had a trading volume of 69,557 shares. The stock’s 50-day moving average price is $76.25 and its 200-day moving average price is $66.64. InterDigital Inc. has a 12 month low of $41.01 and a 12 month high of $81.40. The stock has a market capitalization of $2.78 billion, a PE ratio of 13.92 and a beta of 1.07.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, October 27th. The company reported $2.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by $0.09. InterDigital had a net margin of 40.78% and a return on equity of 33.71%. The firm had revenue of $208.30 million for the quarter, compared to analyst estimates of $210.68 million. During the same quarter in the previous year, the company earned $0.68 EPS. The company’s quarterly revenue was up 107.5% compared to the same quarter last year. Equities analysts forecast that InterDigital Inc. will post $5.73 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, October 7th. This represents a $1.20 annualized dividend and a yield of 1.49%. This is a boost from InterDigital’s previous quarterly dividend of $0.20. InterDigital’s dividend payout ratio is presently 20.55%.

Several research analysts have weighed in on IDCC shares. Barclays PLC lifted their target price on InterDigital from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 9th. Dougherty & Co downgraded InterDigital from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 5th. TheStreet upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 price target on the stock in a research note on Saturday, August 6th. Finally, B. Riley restated a “neutral” rating and issued a $80.00 price target on shares of InterDigital in a research note on Saturday, October 1st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $79.67.

In other InterDigital news, insider William J. Merritt sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $78.35, for a total transaction of $391,750.00. Following the sale, the insider now owns 136,072 shares in the company, valued at $10,661,241.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jannie K. Lau sold 2,010 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $78.35, for a total value of $157,483.50. Following the sale, the executive vice president now owns 14,244 shares in the company, valued at approximately $1,116,017.40. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

InterDigital Company Profile

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