InterDigital, Inc. (IDCC) Shares Bought by Westside Investment Management Inc.

InterDigital, Inc. (IDCC) Shares Bought by Westside Investment Management Inc.

Several other large investors also recently made changes to their positions in IDCC. Tyers Asset Management LLC raised its stake in InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock worth $101,000 after buying an additional 32 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in InterDigital by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the Wireless communications provider’s stock worth $117,000 after buying an additional 640 shares during the last quarter. Elkfork Partners LLC raised its stake in InterDigital by 2.8% in the first quarter. Elkfork Partners LLC now owns 1,606 shares of the Wireless communications provider’s stock worth $139,000 after buying an additional 44 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in InterDigital by 2.8% in the first quarter. Meadow Creek Investment Management LLC now owns 2,044 shares of the Wireless communications provider’s stock worth $176,000 after buying an additional 56 shares during the last quarter. Finally, Strategic Investment Management LLC acquired a new stake in InterDigital during the fourth quarter worth $204,000. 69.84% of the stock is currently owned by institutional investors.

Westside Investment Management Inc. increased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 241.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,655 shares of the Wireless communications provider’s stock after buying an additional 4,000 shares during the period. Westside Investment Management Inc.’s holdings in InterDigital were worth $489,000 as of its most recent filing with the SEC.

Shares of InterDigital, Inc. (NASDAQ:IDCC) opened at 82.50 on Wednesday. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 9.28 and a beta of 1.25. InterDigital, Inc. has a 12-month low of $51.97 and a 12-month high of $102.30. The firm’s 50-day moving average is $85.07 and its 200-day moving average is $87.11.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, April 27th. The Wireless communications provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.22. InterDigital had a net margin of 40.78% and a return on equity of 33.71%. The business had revenue of $94.53 million for the quarter, compared to analysts’ expectations of $92.90 million. During the same period last year, the business earned $0.79 earnings per share. The business’s quarterly revenue was down 12.3% on a year-over-year basis. On average, equities analysts predict that InterDigital, Inc. will post $2.89 EPS for the current year.

A number of equities research analysts have weighed in on IDCC shares. Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “strong sell” rating in a report on Friday, March 10th. B. Riley raised shares of InterDigital from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $100.00 in a report on Monday, April 24th. ValuEngine raised shares of InterDigital from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 25th. Benchmark Co. started coverage on shares of InterDigital in a report on Tuesday, April 25th. They set a “hold” rating on the stock. Finally, Barclays PLC reissued an “equal weight” rating and set a $88.00 target price (down from $94.00) on shares of InterDigital in a report on Friday, February 24th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. InterDigital presently has a consensus rating of “Buy” and a consensus target price of $92.50.

In other InterDigital news, insider William J. Merritt sold 2,000 shares of the stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $84.92, for a total transaction of $169,840.00. Following the transaction, the insider now directly owns 134,477 shares in the company, valued at $11,419,786.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lawrence F. Shay sold 8,000 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $85.88, for a total transaction of $687,040.00. Following the transaction, the executive vice president now owns 48,458 shares in the company, valued at $4,161,573.04. The disclosure for this sale can be found here. Insiders have sold 29,096 shares of company stock worth $2,469,658 over the last quarter. Company insiders own 1.50% of the company’s stock.

About InterDigital

InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:IDCC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding IDCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterDigital, Inc. (NASDAQ:IDCC).

Related posts

Leave a Comment