Allspring Global Investments Holdings LLC Acquires 34,171 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Allspring Global Investments Holdings LLC boosted its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 151.6% in the third quarter, Holdings Channel reports. The institutional investor owned 56,713 shares of the Wireless communications provider’s stock after acquiring an additional 34,171 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in InterDigital were worth $8,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of InterDigital by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock valued at $344,370,000 after purchasing an additional 17,238 shares during the period. Disciplined Growth Investors Inc. MN increased its position in shares of InterDigital by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider’s stock valued at $127,392,000 after buying an additional 10,532 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of InterDigital by 51,337.0% in the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after buying an additional 741,820 shares in the last quarter. Reinhart Partners LLC. bought a new position in shares of InterDigital in the third quarter valued at approximately $27,762,000. Finally, Principal Financial Group Inc. grew its stake in InterDigital by 1.2% during the first quarter. Principal Financial Group Inc. now owns 151,173 shares of the Wireless communications provider’s stock valued at $16,094,000 after acquiring an additional 1,758 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on IDCC shares. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Roth Mkm lifted their price objective on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the transaction, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the completion of the sale, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,205 shares of company stock valued at $716,218. Corporate insiders own 2.30% of the company’s stock.

InterDigital Trading Down 0.0 %

Shares of IDCC opened at $147.29 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. InterDigital, Inc. has a 1-year low of $74.65 and a 1-year high of $157.50. The company has a market capitalization of $3.70 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.97 and a beta of 1.39. The firm’s 50 day simple moving average is $141.18 and its 200 day simple moving average is $124.35.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The company had revenue of $223.49 million during the quarter, compared to the consensus estimate of $95.63 million. Sell-side analysts forecast that InterDigital, Inc. will post 9.06 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.22%. InterDigital’s dividend payout ratio is 18.11%.

InterDigital 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.