Mutual of America Capital Management LLC Trims Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Mutual of America Capital Management LLC decreased its stake in InterDigital, Inc. (NASDAQ:IDCC) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,499 shares of the Wireless communications provider’s stock after selling 130 shares during the quarter. Mutual of America Capital Management LLC’s holdings in InterDigital were worth $488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IDCC. Allspring Global Investments Holdings LLC grew its position in InterDigital by 3.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,240 shares of the Wireless communications provider’s stock valued at $2,848,000 after buying an additional 815 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of InterDigital during the 4th quarter worth about $9,012,000. Meeder Asset Management Inc. acquired a new stake in shares of InterDigital during the 4th quarter valued at about $211,000. New York State Teachers Retirement System increased its stake in shares of InterDigital by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 28,896 shares of the Wireless communications provider’s stock valued at $3,136,000 after purchasing an additional 262 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in InterDigital by 13.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 35,089 shares of the Wireless communications provider’s stock worth $3,840,000 after purchasing an additional 4,180 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America reissued an “underperform” rating and issued a $100.00 price target (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

Insider Activity

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

InterDigital Trading Up 1.1 %

IDCC stock opened at $98.93 on Wednesday. InterDigital, Inc. has a 12-month low of $66.82 and a 12-month high of $119.86. The business’s 50-day moving average is $103.50 and its 200 day moving average is $99.76. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.79 and a beta of 1.34.

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

InterDigital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is currently 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.