Virtu Financial LLC Raises Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Virtu Financial LLC increased its stake in InterDigital, Inc. (NASDAQ:IDCC) by 121.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,689 shares of the Wireless communications provider’s stock after acquiring an additional 3,667 shares during the period. Virtu Financial LLC’s holdings in InterDigital were worth $712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IDCC. Asset Management One Co. Ltd. grew its stake in shares of InterDigital by 13.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 35,089 shares of the Wireless communications provider’s stock valued at $3,840,000 after buying an additional 4,180 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of InterDigital during the fourth quarter valued at approximately $9,012,000. New York State Teachers Retirement System grew its stake in shares of InterDigital by 0.9% during the fourth quarter. New York State Teachers Retirement System now owns 28,896 shares of the Wireless communications provider’s stock valued at $3,136,000 after buying an additional 262 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of InterDigital during the fourth quarter valued at approximately $211,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of InterDigital by 3.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,240 shares of the Wireless communications provider’s stock valued at $2,848,000 after buying an additional 815 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IDCC shares. Jefferies Financial Group reiterated a “hold” rating and issued a $100.00 price target (down previously from $106.00) on shares of InterDigital in a report on Monday, May 13th. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th.

InterDigital Stock Down 0.5 %

InterDigital stock traded down $0.64 during mid-day trading on Friday, reaching $136.23. 1,033,172 shares of the company were exchanged, compared to its average volume of 476,738. The business has a fifty day moving average of $119.12 and a 200 day moving average of $109.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market cap of $3.44 billion, a P/E ratio of 20.03, a PEG ratio of 1.06 and a beta of 1.42. InterDigital, Inc. has a 12-month low of $74.65 and a 12-month high of $137.97.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $3.22 EPS for the quarter, beating the consensus estimate of $3.16 by $0.06. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. The firm had revenue of $263.54 million during the quarter, compared to analyst estimates of $250.15 million. Research analysts anticipate that InterDigital, Inc. will post 6.64 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. InterDigital’s dividend payout ratio is presently 23.53%.

Insider Activity

In related news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which is available through this hyperlink. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $103.87, for a total transaction of $67,515.50. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John D. Jr. Markley sold 750 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the sale, the director now directly owns 12,202 shares in the company, 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.

InterDigital Company Profile

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.