Aigen Investment Management LP bought a new stake in InterDigital Wireless Inc (NASDAQ:IDCC) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,403 shares of the Wireless communications provider’s stock, valued at approximately $185,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new stake in shares of InterDigital Wireless in the 3rd quarter valued at $290,000. Nisa Investment Advisors LLC boosted its holdings in InterDigital Wireless by 80.2% in the third quarter. Nisa Investment Advisors LLC now owns 9,440 shares of the Wireless communications provider’s stock valued at $495,000 after purchasing an additional 4,200 shares during the last quarter. Coastal Investment Advisors Inc. boosted its holdings in InterDigital Wireless by 7,160.0% in the third quarter. Coastal Investment Advisors Inc. now owns 9,075 shares of the Wireless communications provider’s stock valued at $473,000 after purchasing an additional 8,950 shares during the last quarter. Boston Trust Walden Corp grew its position in InterDigital Wireless by 43.2% during the 3rd quarter. Boston Trust Walden Corp now owns 244,635 shares of the Wireless communications provider’s stock worth $12,836,000 after purchasing an additional 73,804 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new stake in InterDigital Wireless during the 3rd quarter worth about $2,340,000. 70.13% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on IDCC shares. B. Riley reissued a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of InterDigital Wireless in a report on Wednesday, January 15th. ValuEngine downgraded InterDigital Wireless from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 27th. Finally, BidaskClub lowered InterDigital Wireless from a “sell” rating to a “strong sell” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. InterDigital Wireless presently has a consensus rating of “Hold” and an average price target of $85.00.
Shares of NASDAQ IDCC opened at $57.52 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.06 and a quick ratio of 3.06. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 213.04, a PEG ratio of 3.29 and a beta of 1.00. The firm’s 50 day simple moving average is $56.67 and its 200-day simple moving average is $54.80. InterDigital Wireless Inc has a 12 month low of $47.02 and a 12 month high of $74.03.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Tuesday, January 7th. InterDigital Wireless’s dividend payout ratio is currently 77.35%.
InterDigital Wireless Company Profile
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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