Headlands Technologies LLC Purchases 2,169 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Headlands Technologies LLC raised its position in InterDigital, Inc. (NASDAQ:IDCC) by 108,450.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,171 shares of the Wireless communications provider’s stock after acquiring an additional 2,169 shares during the period. Headlands Technologies LLC’s holdings in InterDigital were worth $231,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of InterDigital by 16.1% during the 4th quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after purchasing an additional 10,926 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of InterDigital during the 4th quarter worth approximately $13,309,000. Trexquant Investment LP acquired a new position in shares of InterDigital during the 4th quarter worth approximately $1,779,000. Norges Bank acquired a new position in shares of InterDigital during the 4th quarter worth approximately $18,987,000. Finally, International Assets Investment Management LLC acquired a new position in shares of InterDigital during the 4th quarter worth approximately $9,012,000. Institutional investors own 99.83% of the company’s stock.

Insider Activity

In related news, CTO Rajesh Pankaj sold 650 shares of the business’s 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 completion of the transaction, the chief technology officer now directly owns 64,517 shares in the company, valued at $6,701,380.79. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other InterDigital news, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total transaction of $86,460.00. Following the completion of the transaction, the director now owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were 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 disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IDCC has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $100.00 target price (down from $106.00) on shares of InterDigital in a report on Monday, May 13th. Bank of America reaffirmed an “underperform” rating and issued a $100.00 price objective (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. Finally, StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th.

InterDigital Stock Up 0.5 %

InterDigital stock traded up $0.66 during mid-day trading on Tuesday, reaching $122.89. The stock had a trading volume of 118,726 shares, compared to its average volume of 479,998. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $124.01. The stock’s 50-day simple moving average is $114.62 and its 200-day simple moving average is $107.58. The firm has a market capitalization of $3.10 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.04 and a beta of 1.42.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $0.06. The company had revenue of $263.54 million for the quarter, compared to analyst estimates of $250.15 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. On average, sell-side analysts forecast that InterDigital, Inc. will post 6.65 EPS for the current fiscal year.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Wednesday, July 10th. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

InterDigital 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.