UBS Asset Management Americas Inc. Buys 1,365 Shares of InterDigital Wireless Inc (NASDAQ:IDCC)

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UBS Asset Management Americas Inc. lifted its stake in InterDigital Wireless Inc (NASDAQ:IDCC) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,645 shares of the Wireless communications provider’s stock after purchasing an additional 1,365 shares during the period. UBS Asset Management Americas Inc. owned 0.08% of InterDigital Wireless worth $1,587,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Empirical Finance LLC lifted its holdings in InterDigital Wireless by 0.9% during the second quarter. Empirical Finance LLC now owns 32,220 shares of the Wireless communications provider’s stock worth $2,075,000 after acquiring an additional 280 shares in the last quarter. Invesco Ltd. raised its stake in shares of InterDigital Wireless by 566.2% in the 2nd quarter. Invesco Ltd. now owns 530,450 shares of the Wireless communications provider’s stock valued at $34,161,000 after purchasing an additional 450,831 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of InterDigital Wireless in the 2nd quarter valued at about $3,677,000. Nomura Holdings Inc. raised its stake in shares of InterDigital Wireless by 4.8% in the 2nd quarter. Nomura Holdings Inc. now owns 249,810 shares of the Wireless communications provider’s stock valued at $16,032,000 after purchasing an additional 11,480 shares during the period. Finally, General American Investors Co. Inc. raised its stake in shares of InterDigital Wireless by 24.4% in the 2nd quarter. General American Investors Co. Inc. now owns 179,137 shares of the Wireless communications provider’s stock valued at $11,536,000 after purchasing an additional 35,171 shares during the period. Institutional investors and hedge funds own 73.09% of the company’s stock.

IDCC opened at $53.32 on Friday. The business’s 50-day moving average price is $51.48 and its two-hundred day moving average price is $61.19. InterDigital Wireless Inc has a 1 year low of $47.02 and a 1 year high of $77.88. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 63.30, a P/E/G ratio of 13.07 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.87 and a quick ratio of 3.87.

InterDigital Wireless (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.12. InterDigital Wireless had a return on equity of 3.15% and a net margin of 9.56%. The firm had revenue of $75.61 million for the quarter, compared to the consensus estimate of $75.50 million. During the same quarter last year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that InterDigital Wireless Inc will post 0.31 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, October 8th. InterDigital Wireless’s dividend payout ratio is currently 77.35%.

Several research firms have issued reports on IDCC. BidaskClub raised InterDigital Wireless from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 10th. B. Riley reissued a “buy” rating and issued a $80.00 price target (down previously from $90.00) on shares of InterDigital Wireless in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $80.00.

About InterDigital Wireless

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks.

Further Reading: Average Daily Trade Volume – What You Need to Know

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Institutional Ownership by Quarter for InterDigital Wireless (NASDAQ:IDCC)

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