State of New Jersey Common Pension Fund D Sells 3,841 Shares of InterDigital, Inc. (NASDAQ:IDCC)

State of New Jersey Common Pension Fund D lessened its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 13.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,010 shares of the Wireless communications provider’s stock after selling 3,841 shares during the period. State of New Jersey Common Pension Fund D owned about 0.10% of InterDigital worth $2,715,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its position in InterDigital by 8.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 374,348 shares of the Wireless communications provider’s stock worth $30,038,000 after acquiring an additional 28,176 shares during the period. Brown Advisory Inc. raised its holdings in InterDigital by 0.8% in the 3rd quarter. Brown Advisory Inc. now owns 36,839 shares of the Wireless communications provider’s stock worth $2,956,000 after purchasing an additional 299 shares during the period. New York State Teachers Retirement System lifted its position in InterDigital by 2.1% during the third quarter. New York State Teachers Retirement System now owns 28,634 shares of the Wireless communications provider’s stock valued at $2,298,000 after purchasing an additional 596 shares in the last quarter. Inspire Advisors LLC bought a new stake in InterDigital during the third quarter valued at about $356,000. Finally, Inspire Investing LLC increased its position in InterDigital by 17.9% in the third quarter. Inspire Investing LLC now owns 3,839 shares of the Wireless communications provider’s stock worth $308,000 after buying an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Insider Activity at InterDigital

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IDCC. Bank of America reissued an “underperform” rating and issued a $100.00 target price (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Monday.

InterDigital Price Performance

Shares of InterDigital stock opened at $98.73 on Wednesday. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.82 and a beta of 1.34. 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 stock’s 50-day simple moving average is $102.42 and its 200-day simple moving average is $100.29. InterDigital, Inc. has a 52 week low of $66.82 and a 52 week high of $119.86.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The company had revenue of $105.52 million for the quarter, compared to the consensus estimate of $104.31 million. As a group, analysts expect that InterDigital, Inc. will post 7.02 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.62%. InterDigital’s dividend payout ratio is 21.33%.

About InterDigital

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.