Brown Advisory Inc. lessened its stake in InterDigital, Inc. (NASDAQ:IDCC) by 19.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,655 shares of the Wireless communications provider’s stock after selling 9,132 shares during the period. Brown Advisory Inc. owned 0.11% of InterDigital worth $2,932,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of IDCC. Segall Bryant & Hamill LLC bought a new position in InterDigital in the 2nd quarter worth approximately $23,853,000. Dimensional Fund Advisors LP raised its position in InterDigital by 7.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,116,987 shares of the Wireless communications provider’s stock worth $89,359,000 after purchasing an additional 75,668 shares during the last quarter. Voya Investment Management LLC raised its position in InterDigital by 126.3% in the 2nd quarter. Voya Investment Management LLC now owns 117,111 shares of the Wireless communications provider’s stock worth $9,474,000 after purchasing an additional 65,371 shares during the last quarter. Dean Investment Associates LLC bought a new position in InterDigital in the 2nd quarter worth approximately $4,313,000. Finally, Prudential Financial Inc. raised its position in InterDigital by 79.3% in the 3rd quarter. Prudential Financial Inc. now owns 100,089 shares of the Wireless communications provider’s stock worth $8,007,000 after purchasing an additional 44,280 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.
Several research analysts recently weighed in on the stock. BidaskClub cut shares of InterDigital from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. Zacks Investment Research cut shares of InterDigital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 3rd. ValuEngine upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. TheStreet upgraded shares of InterDigital from a “c+” rating to a “b-” rating in a research report on Monday, December 3rd. Finally, B. Riley set a $90.00 price objective on shares of InterDigital and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. InterDigital presently has an average rating of “Hold” and a consensus target price of $93.60.
In other InterDigital news, EVP James J. Nolan sold 5,093 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $79.82, for a total transaction of $406,523.26. Following the completion of the sale, the executive vice president now owns 39,560 shares in the company, valued at approximately $3,157,679.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.
Shares of InterDigital stock opened at $72.01 on Friday. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. InterDigital, Inc. has a 52 week low of $68.22 and a 52 week high of $85.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.06 and a quick ratio of 4.06.
InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, November 1st. The Wireless communications provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.24 by $0.36. The company had revenue of $75.08 million during the quarter, compared to analysts’ expectations of $72.59 million. InterDigital had a net margin of 26.19% and a return on equity of 17.50%. The business’s revenue for the quarter was down 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. As a group, sell-side analysts forecast that InterDigital, Inc. will post 2.05 EPS for the current year.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.
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