InterDigital, Inc. (NASDAQ:IDCC) Stock Position Reduced by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its position in shares of InterDigital, Inc. (NASDAQ:IDCC – Free Report) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,600 shares of the Wireless communications provider’s stock after selling 1,500 shares during the period. Louisiana State Employees Retirement System’s holdings in InterDigital were worth $919,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Boston Trust Walden Corp lifted its holdings in InterDigital by 4.9% during the 1st quarter. Boston Trust Walden Corp now owns 644,966 shares of the Wireless communications provider’s stock worth $47,018,000 after buying an additional 29,953 shares during the last quarter. Cardinal Capital Management bought a new position in InterDigital during the 1st quarter worth approximately $680,000. Ronald Blue Trust Inc. lifted its holdings in InterDigital by 17.6% during the 1st quarter. Ronald Blue Trust Inc. now owns 1,174 shares of the Wireless communications provider’s stock worth $58,000 after buying an additional 176 shares during the last quarter. Cohen Klingenstein LLC acquired a new stake in shares of InterDigital during the 1st quarter worth approximately $244,000. Finally, Acrisure Capital Management LLC acquired a new stake in shares of InterDigital during the 4th quarter worth approximately $476,000. Institutional investors own 92.87% of the company’s stock.

InterDigital Stock Up 0.2 %

IDCC opened at $94.19 on Friday. InterDigital, Inc. has a 12 month low of $40.23 and a 12 month high of $97.62. The company has a debt-to-equity ratio of 0.97, a current ratio of 4.70 and a quick ratio of 4.70. The stock has a market cap of $2.52 billion, a P/E ratio of 15.47, a P/E/G ratio of 0.96 and a beta of 1.23. The stock’s 50 day moving average price is $86.25 and its 200 day moving average price is $74.24.

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InterDigital (NASDAQ:IDCC – Free Report) last posted its earnings results on Thursday, May 4th. The Wireless communications provider reported $4.00 EPS for the quarter, beating the consensus estimate of $0.62 by $3.38. InterDigital had a return on equity of 28.17% and a net margin of 32.38%. The firm had revenue of $202.37 million for the quarter, compared to analysts’ expectations of $97.40 million. As a group, research analysts predict that InterDigital, Inc. will post 7.12 earnings per share for the current year.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.49%. The ex-dividend date is Tuesday, July 11th. InterDigital’s dividend payout ratio is currently 22.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IDCC. Bank of America upgraded InterDigital from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $105.00 in a research report on Wednesday, May 10th. StockNews.com began coverage on InterDigital in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $92.50.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Eric Cohen sold 4,316 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $84.53, for a total transaction of $364,831.48. Following the completion of the transaction, the insider now directly owns 45,477 shares of the company’s stock, valued at approximately $3,844,170.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

InterDigital Company Profile

(Free Report)

InterDigital, Inc, together with its subsidiaries, designs and develops technologies that enable and enhance wireless communications in the United States, China, South Korea, Japan, Taiwan, and Europe. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.