Today: Lucus Advisors LLC Takes Position in InterDigital Inc. (IDCC)

Today: Lucus Advisors LLC Takes Position in InterDigital Inc. (IDCC)

Lucus Advisors LLC bought a new position in shares of InterDigital Inc. (NASDAQ:IDCC) during the third quarter, Holdings Channel reports. The fund bought 4,974 shares of the company’s stock, valued at approximately $394,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of InterDigital by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,568,708 shares of the company’s stock worth $143,025,000 after buying an additional 31,587 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of InterDigital by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 878,844 shares of the company’s stock worth $48,932,000 after buying an additional 4,785 shares in the last quarter. Denver Investment Advisors LLC boosted its position in shares of InterDigital by 2.6% in the second quarter. Denver Investment Advisors LLC now owns 478,353 shares of the company’s stock worth $26,635,000 after buying an additional 11,904 shares in the last quarter. Freestone Capital Holdings LLC boosted its position in shares of InterDigital by 2.4% in the second quarter. Freestone Capital Holdings LLC now owns 341,135 shares of the company’s stock worth $18,994,000 after buying an additional 7,945 shares in the last quarter. Finally, Fort L.P. boosted its position in shares of InterDigital by 38.1% in the second quarter. Fort L.P. now owns 248,977 shares of the company’s stock worth $13,863,000 after buying an additional 68,648 shares in the last quarter. Hedge funds and other institutional investors own 68.88% of the company’s stock.

Shares of InterDigital Inc. (NASDAQ:IDCC) traded down 0.62% on Monday, hitting $80.40. The company’s stock had a trading volume of 77,487 shares. InterDigital Inc. has a 52 week low of $41.01 and a 52 week high of $81.40. The stock’s 50 day moving average price is $76.26 and its 200 day moving average price is $66.83. The stock has a market capitalization of $2.76 billion, a P/E ratio of 13.79 and a beta of 1.07.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, October 27th. The company reported $2.99 earnings per share (EPS) for the quarter, missing the 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 period last year, the firm earned $0.68 earnings per share. InterDigital’s revenue for the quarter was up 107.5% compared to the same quarter last year. On average, analysts forecast that InterDigital Inc. will post $5.73 earnings per share for the current fiscal year.

A number of brokerages have commented on IDCC. B. Riley restated a “buy” rating and set a $73.00 price objective (up previously from $69.00) on shares of InterDigital 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 objective on the stock in a research note on Saturday, August 6th. Finally, TheStreet upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $79.67.

In other InterDigital news, EVP Jannie K. Lau sold 2,010 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $78.35, for a total transaction of $157,483.50. Following the sale, the executive vice president now directly owns 14,244 shares of the company’s stock, valued at approximately $1,116,017.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William J. Merritt sold 5,000 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $78.35, for a total transaction of $391,750.00. Following the sale, the insider now directly owns 136,072 shares in the company, valued at $10,661,241.20. The disclosure for this sale can be found here. Company 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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