Pictet Asset Management Holding SA grew its holdings in InterDigital, Inc. (NASDAQ:IDCC – Free Report) by 38.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 19,579 shares of the Wireless communications provider’s stock after buying an additional 5,481 shares during the period. Pictet Asset Management Holding SA’s holdings in InterDigital were worth $5,913,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new position in shares of InterDigital during the fourth quarter valued at about $26,000. Leonteq Securities AG acquired a new stake in InterDigital in the 4th quarter worth approximately $35,000. Financial Consulate Inc. purchased a new stake in InterDigital during the 4th quarter worth approximately $41,000. Hantz Financial Services Inc. grew its position in InterDigital by 219.0% during the 4th quarter. Hantz Financial Services Inc. now owns 134 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 92 shares during the last quarter. Finally, Greenline Wealth Management LLC acquired a new position in InterDigital during the 4th quarter valued at approximately $48,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.
InterDigital Stock Performance
NASDAQ IDCC opened at $281.40 on Friday. The stock has a 50-day simple moving average of $280.81 and a two-hundred day simple moving average of $319.04. The firm has a market capitalization of $7.27 billion, a P/E ratio of 26.50 and a beta of 1.42. InterDigital, Inc. has a fifty-two week low of $213.06 and a fifty-two week high of $412.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.88 and a current ratio of 1.88.
InterDigital Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, July 8th. InterDigital’s dividend payout ratio is currently 26.37%.
Insiders Place Their Bets
In related news, Director Derek K. Aberle sold 522 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $276.64, for a total value of $144,406.08. Following the completion of the transaction, the director directly owned 7,620 shares in the company, valued at $2,107,996.80. The trade was a 6.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jean F. Rankin sold 365 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $276.64, for a total transaction of $100,973.60. Following the sale, the director directly owned 28,938 shares in the company, valued at $8,005,408.32. This trade represents a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 5,872 shares of company stock worth $1,695,109. Corporate insiders own 3.50% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on IDCC. Wall Street Zen raised shares of InterDigital from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings downgraded InterDigital from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Finally, Jefferies Financial Group restated a “buy” rating on shares of InterDigital in a research note on Wednesday, March 18th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $416.67.
Check Out Our Latest Stock Report on IDCC
InterDigital Company Profile
InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.
The company’s principal services include patent licensing, technology evaluation and consulting.
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