InterDigital, Inc. (IDCC) Shares Sold by Public Employees Retirement Association of Colorado

InterDigital, Inc. (IDCC) Shares Sold by Public Employees Retirement Association of Colorado

Several other hedge funds also recently bought and sold shares of the company. United Capital Financial Advisers LLC raised its position in shares of InterDigital by 0.8% in the fourth quarter. United Capital Financial Advisers LLC now owns 3,125 shares of the Wireless communications provider’s stock valued at $285,000 after buying an additional 25 shares during the last quarter. Tyers Asset Management LLC raised its position in shares of InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock valued at $101,000 after buying an additional 32 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in shares of InterDigital by 2.8% in the first quarter. Glen Harbor Capital Management LLC now owns 2,482 shares of the Wireless communications provider’s stock valued at $214,000 after buying an additional 68 shares during the last quarter. State Treasurer State of Michigan raised its position in shares of InterDigital by 0.7% in the first quarter. State Treasurer State of Michigan now owns 13,900 shares of the Wireless communications provider’s stock valued at $1,200,000 after buying an additional 100 shares during the last quarter. Finally, Sigma Planning Corp raised its position in shares of InterDigital by 1.0% in the first quarter. Sigma Planning Corp now owns 10,459 shares of the Wireless communications provider’s stock valued at $903,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 69.84% of the company’s stock.

Public Employees Retirement Association of Colorado lowered its stake in InterDigital, Inc. (NASDAQ:IDCC) by 8.4% during the first quarter, Holdings Channel reports. The institutional investor owned 7,055 shares of the Wireless communications provider’s stock after selling 645 shares during the period. Public Employees Retirement Association of Colorado’s holdings in InterDigital were worth $609,000 as of its most recent filing with the SEC.

InterDigital, Inc. (NASDAQ:IDCC) opened at 81.00 on Thursday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 9.11 and a beta of 1.25. InterDigital, Inc. has a 52-week low of $51.97 and a 52-week high of $102.30. The stock has a 50 day moving average of $84.90 and a 200-day moving average of $87.07.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, April 27th. The Wireless communications provider reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.22. The firm had revenue of $94.53 million during the quarter, compared to the consensus estimate of $92.90 million. InterDigital had a return on equity of 33.71% and a net margin of 40.78%. The company’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, analysts forecast that InterDigital, Inc. will post $2.89 EPS for the current year.

IDCC has been the topic of several recent research reports. Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “strong sell” rating in a research report on Friday, March 10th. B. Riley raised shares of InterDigital from a “neutral” rating to a “buy” rating and raised their price objective for the company from $86.00 to $100.00 in a research report on Monday, April 24th. ValuEngine raised shares of InterDigital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 25th. Benchmark Co. initiated coverage on shares of InterDigital in a research report on Tuesday, April 25th. They set a “hold” rating on the stock. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $88.00 price objective (down previously from $94.00) on shares of InterDigital in a research report on Friday, February 24th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $92.50.

In related news, insider William J. Merritt sold 2,000 shares of InterDigital stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $84.92, for a total transaction of $169,840.00. Following the transaction, the insider now owns 134,477 shares of the company’s stock, valued at $11,419,786.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Brezski sold 10,000 shares of InterDigital stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $84.93, for a total value of $849,300.00. Following the transaction, the chief financial officer now directly owns 27,681 shares in the company, valued at approximately $2,350,947.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,096 shares of company stock valued at $2,469,658. Corporate insiders own 1.50% of the company’s stock.

InterDigital Company Profile

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”});

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