Duality Advisers LP Buys 30,137 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Duality Advisers LP grew its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1,380.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,320 shares of the Wireless communications provider’s stock after buying an additional 30,137 shares during the period. Duality Advisers LP’s holdings in InterDigital were worth $3,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IDCC. Pacer Advisors Inc. boosted its holdings in InterDigital by 220.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after buying an additional 792,868 shares during the last quarter. Norges Bank acquired a new stake in shares of InterDigital during the fourth quarter worth about $18,987,000. Crossmark Global Holdings Inc. acquired a new stake in shares of InterDigital during the fourth quarter worth about $13,309,000. International Assets Investment Management LLC acquired a new stake in shares of InterDigital during the fourth quarter worth about $9,012,000. Finally, Vanguard Group Inc. raised its position in shares of InterDigital by 2.2% during the third quarter. Vanguard Group Inc. now owns 3,343,395 shares of the Wireless communications provider’s stock worth $268,274,000 after purchasing an additional 72,720 shares during the period. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Performance

NASDAQ IDCC traded down $0.72 during trading on Friday, reaching $121.47. 155,586 shares of the company’s stock were exchanged, compared to its average volume of 482,088. The business has a 50 day moving average price of $113.93 and a 200-day moving average price of $107.46. The stock has a market capitalization of $3.07 billion, a P/E ratio of 17.93, a PEG ratio of 1.05 and a beta of 1.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $124.01.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.06. The firm had revenue of $263.54 million for the quarter, compared to the consensus estimate of $250.15 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. Sell-side analysts forecast that InterDigital, Inc. will post 6.65 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, July 10th. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America reaffirmed an “underperform” rating and set a $100.00 price target (down previously from $140.00) on shares of InterDigital in a research report on Monday, April 1st. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $100.00 target price (down previously from $106.00) on shares of InterDigital in a research report on Monday, May 13th.

Insiders Place Their Bets

In other news, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the sale, the chief technology officer now owns 64,517 shares in the company, valued at $6,701,380.79. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the sale, the chief technology officer now owns 64,517 shares in the company, valued at $6,701,380.79. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the sale, the director now owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

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.