Cornercap Investment Counsel Inc. acquired a new stake in shares of InterDigital Inc. (NASDAQ:IDCC) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 17,240 shares of the company’s stock, valued at approximately $1,575,000.
A number of other institutional investors have also made changes to their positions in IDCC. HL Financial Services LLC raised its stake in InterDigital by 0.6% in the second quarter. HL Financial Services LLC now owns 4,755 shares of the company’s stock valued at $265,000 after buying an additional 27 shares during the period. BlackRock Advisors LLC raised its stake in shares of InterDigital by 0.3% in the second quarter. BlackRock Advisors LLC now owns 16,541 shares of the company’s stock worth $921,000 after buying an additional 52 shares in the last quarter. Legal & General Group Plc raised its stake in shares of InterDigital by 0.9% in the second quarter. Legal & General Group Plc now owns 9,255 shares of the company’s stock worth $509,000 after buying an additional 81 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of InterDigital by 5.7% in the third quarter. LS Investment Advisors LLC now owns 2,203 shares of the company’s stock worth $174,000 after buying an additional 119 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of InterDigital by 0.6% in the third quarter. BlackRock Group LTD now owns 25,455 shares of the company’s stock worth $2,016,000 after buying an additional 164 shares in the last quarter. 68.47% of the stock is currently owned by institutional investors.
Shares of InterDigital Inc. (NASDAQ:IDCC) traded down 0.34% during trading on Thursday, reaching $89.00. The company had a trading volume of 206,469 shares. The firm has a market capitalization of $3.05 billion, a P/E ratio of 15.27 and a beta of 1.13. The firm’s 50 day moving average price is $87.86 and its 200 day moving average price is $74.89. InterDigital Inc. has a 12 month low of $41.01 and a 12 month high of $98.00.
InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, October 27th. The company reported $2.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by $0.09. The business had revenue of $208.30 million for the quarter, compared to analysts’ expectations of $210.68 million. InterDigital had a return on equity of 33.71% and a net margin of 40.78%. The business’s quarterly revenue was up 107.5% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. Equities analysts predict that InterDigital Inc. will post $8.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 11th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, January 9th. InterDigital’s dividend payout ratio (DPR) is 20.55%.
IDCC has been the topic of a number of research analyst reports. Zacks Investment Research lowered InterDigital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 4th. Dougherty & Co lowered InterDigital from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 5th. Sidoti lowered InterDigital from a “buy” rating to a “neutral” rating and set a $86.00 price target on the stock. in a research note on Wednesday, December 7th. Barclays PLC reaffirmed an “equal weight” rating and issued a $80.00 price target (up from $75.00) on shares of InterDigital in a research note on Friday, September 23rd. Finally, B. Riley reaffirmed a “hold” rating and issued a $80.00 price target on shares of InterDigital in a research note on Tuesday, November 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $82.63.
In other news, CFO Richard Brezski sold 6,807 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $70.00, for a total transaction of $476,490.00. Following the completion of the transaction, the chief financial officer now directly owns 20,556 shares of the company’s stock, valued at approximately $1,438,920. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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