Illinois Municipal Retirement Fund Cuts Position in InterDigital, Inc. (NASDAQ:IDCC)

Illinois Municipal Retirement Fund decreased its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,948 shares of the Wireless communications provider’s stock after selling 1,206 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of InterDigital worth $1,622,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of InterDigital during the 3rd quarter valued at about $68,000. Parkside Financial Bank & Trust lifted its holdings in shares of InterDigital by 12.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after acquiring an additional 114 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of InterDigital by 12.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after acquiring an additional 143 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of InterDigital in the 4th quarter valued at $211,000. Finally, Cohen Klingenstein LLC bought a new position in shares of InterDigital during the 4th quarter valued at $230,000. Institutional investors own 99.83% of the company’s stock.

Analyst Ratings Changes

IDCC has been the subject of several analyst reports. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America restated an “underperform” rating and set a $100.00 target price (down from $140.00) on shares of InterDigital in a report on Monday, April 1st.

Insider Activity

In related news, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the sale, the insider now owns 29,984 shares of the company’s stock, valued at $2,871,567.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the transaction, the chief technology officer now owns 64,939 shares in the company, valued at approximately $6,190,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the transaction, the insider now directly owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

InterDigital Stock Up 0.8 %

Shares of NASDAQ IDCC opened at $100.71 on Friday. The firm’s fifty day moving average is $103.07 and its 200 day moving average is $99.76. InterDigital, Inc. has a 52 week low of $66.82 and a 52 week high of $119.86. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.82 and a beta of 1.34.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $105.52 million for the quarter, compared to analysts’ expectations of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. On average, equities research analysts expect that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 annualized dividend and a dividend yield of 1.59%. InterDigital’s dividend payout ratio (DPR) is presently 21.33%.

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.