Todays Report: The Strs Ohio Acquires 18,400 Shares of InterDigital Inc. (IDCC)

The Strs Ohio Acquires 18,400 Shares of InterDigital Inc. (IDCC)

Strs Ohio boosted its stake in InterDigital Inc. (NASDAQ:IDCC) by 876.2% during the second quarter, Holdings Channel reports. The firm owned 20,500 shares of the company’s stock after buying an additional 18,400 shares during the period. Strs Ohio’s holdings in InterDigital were worth $1,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LS Investment Advisors LLC boosted its position in InterDigital by 73.8% in the second quarter. LS Investment Advisors LLC now owns 2,084 shares of the company’s stock valued at $116,000 after buying an additional 885 shares during the period. Smith Asset Management Group LP raised its stake in shares of InterDigital by 8,400.0% in the second quarter. Smith Asset Management Group LP now owns 2,125 shares of the company’s stock worth $118,000 after buying an additional 2,100 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of InterDigital during the second quarter worth $189,000. Aperio Group LLC bought a new stake in shares of InterDigital during the first quarter worth $255,000. Finally, HL Financial Services LLC raised its stake 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 worth $265,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

InterDigital Inc. (NASDAQ:IDCC) traded down 1.31% during mid-day trading on Thursday, reaching $77.33. 385,504 shares of the company traded hands. InterDigital Inc. has a one year low of $41.01 and a one year high of $79.97. The stock’s 50-day moving average price is $75.17 and its 200-day moving average price is $62.39. The firm has a market cap of $2.65 billion, a PE ratio of 21.88 and a beta of 0.73.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.83. The company earned $75.90 million during the quarter, compared to the consensus estimate of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The firm’s revenue for the quarter was down 36.0% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. Analysts forecast that InterDigital Inc. will post $5.71 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.55%. This is an increase from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, October 7th. InterDigital’s dividend payout ratio (DPR) is presently 33.99%.

A number of brokerages have recently weighed in on IDCC. TheStreet raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. B. Riley lowered shares of InterDigital from a “buy” rating to a “neutral” rating and set a $80.00 price target for the company. in a research note on Monday, September 26th. Barclays PLC upped their price target on shares of InterDigital from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 9th. Dougherty & Co lowered shares of InterDigital from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 5th. Finally, Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $78.33.

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

About InterDigital

InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.

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