Future Fund LLC Takes Position in InterDigital, Inc. $IDCC

Future Fund LLC purchased a new position in InterDigital, Inc. (NASDAQ:IDCC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,693 shares of the Wireless communications provider’s stock, valued at approximately $828,000.

Other large investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in InterDigital in the 1st quarter worth about $33,000. Headlands Technologies LLC bought a new position in shares of InterDigital in the first quarter worth approximately $35,000. Concord Wealth Partners bought a new position in shares of InterDigital in the first quarter worth approximately $37,000. Global Wealth Strategies & Associates purchased a new stake in InterDigital in the second quarter valued at approximately $38,000. Finally, Quarry LP lifted its position in InterDigital by 642.9% during the first quarter. Quarry LP now owns 208 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 180 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Insider Activity

In other news, insider Joshua D. Schmidt sold 466 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $395.63, for a total value of $184,363.58. Following the transaction, the insider owned 27,928 shares in the company, valued at approximately $11,049,154.64. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Rajesh Pankaj sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $375.31, for a total transaction of $375,310.00. Following the sale, the chief technology officer owned 64,157 shares of the company’s stock, valued at $24,078,763.67. This represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,932 shares of company stock valued at $1,575,838 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IDCC shares. Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the stock a “buy” rating in a report on Thursday, October 30th. Weiss Ratings raised InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research note on Tuesday, October 14th. Roth Capital lifted their price target on InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, William Blair reiterated an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat, InterDigital presently has an average rating of “Buy” and an average target price of $412.50.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $370.07 on Friday. The stock has a market cap of $9.53 billion, a PE ratio of 26.38, a PEG ratio of 1.88 and a beta of 1.45. The company’s fifty day moving average is $345.69 and its 200 day moving average is $270.92. InterDigital, Inc. has a 52 week low of $169.58 and a 52 week high of $412.60. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, October 8th. This represents a $2.80 annualized dividend and a yield of 0.8%. This is a boost from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s dividend payout ratio (DPR) is currently 18.89%.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.