Amundi Pioneer Asset Management Inc. increased its position in shares of InterDigital Wireless Inc (NASDAQ:IDCC) by 22.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,800 shares of the Wireless communications provider’s stock after buying an additional 3,500 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.06% of InterDigital Wireless worth $1,249,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan acquired a new stake in shares of InterDigital Wireless during the fourth quarter valued at about $556,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of InterDigital Wireless by 75.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 20,121 shares of the Wireless communications provider’s stock worth $1,337,000 after acquiring an additional 8,623 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of InterDigital Wireless during the 4th quarter worth approximately $713,000. Squarepoint Ops LLC boosted its position in shares of InterDigital Wireless by 67.1% during the 4th quarter. Squarepoint Ops LLC now owns 12,390 shares of the Wireless communications provider’s stock worth $823,000 after purchasing an additional 4,975 shares during the period. Finally, Bank of America Corp DE increased its holdings in InterDigital Wireless by 43.5% in the 4th quarter. Bank of America Corp DE now owns 124,976 shares of the Wireless communications provider’s stock valued at $8,302,000 after purchasing an additional 37,913 shares during the last quarter. 77.36% of the stock is currently owned by hedge funds and other institutional investors.
IDCC has been the topic of a number of research analyst reports. BidaskClub raised InterDigital Wireless from a “strong sell” rating to a “sell” rating in a research report on Friday. TheStreet lowered InterDigital Wireless from a “b” rating to a “c” rating in a research report on Thursday, February 28th. Zacks Investment Research cut InterDigital Wireless from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, B. Riley set a $90.00 price objective on InterDigital Wireless and gave the company a “buy” rating in a report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. InterDigital Wireless presently has a consensus rating of “Buy” and a consensus price target of $93.75.
In other news, CEO William J. Merritt sold 15,000 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $71.62, for a total transaction of $1,074,300.00. Following the sale, the chief executive officer now owns 156,549 shares of the company’s stock, valued at $11,212,039.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.
NASDAQ IDCC opened at $69.19 on Friday. The company has a quick ratio of 5.71, a current ratio of 5.71 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.23 billion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 5.46 and a beta of 1.18. InterDigital Wireless Inc has a one year low of $62.34 and a one year high of $85.85.
InterDigital Wireless (NASDAQ:IDCC) last announced its earnings results on Thursday, February 21st. The Wireless communications provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.18). The business had revenue of $75.33 million for the quarter, compared to analysts’ expectations of $77.36 million. InterDigital Wireless had a return on equity of 7.95% and a net margin of 20.78%. InterDigital Wireless’s quarterly revenue was down 63.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 earnings per share. Equities research analysts anticipate that InterDigital Wireless Inc will post 0.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.02%. InterDigital Wireless’s dividend payout ratio (DPR) is 77.35%.
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About InterDigital Wireless
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides 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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