Virtu Financial LLC Raises Stake in InterDigital, Inc. (NASDAQ:IDCC)

Virtu Financial LLC lifted its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 121.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,689 shares of the Wireless communications provider’s stock after purchasing an additional 3,667 shares during the quarter. Virtu Financial LLC’s holdings in InterDigital were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of IDCC. Hancock Whitney Corp boosted its holdings in InterDigital by 60.0% during the 1st quarter. Hancock Whitney Corp now owns 14,061 shares of the Wireless communications provider’s stock valued at $1,497,000 after acquiring an additional 5,273 shares during the period. Caxton Associates LP acquired a new stake in InterDigital in the 1st quarter valued at about $768,000. BOKF NA raised its position in InterDigital by 89.0% in the 1st quarter. BOKF NA now owns 2,949 shares of the Wireless communications provider’s stock valued at $287,000 after purchasing an additional 1,389 shares in the last quarter. Hyperion Capital Advisors LP acquired a new stake in InterDigital in the 1st quarter valued at about $207,000. Finally, MQS Management LLC acquired a new stake in InterDigital in the 1st quarter valued at about $323,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reissued a “hold” rating and set a $100.00 target price (down previously from $106.00) on shares of InterDigital in a research report on Monday, May 13th. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th.

InterDigital Stock Performance

IDCC traded down $0.64 during trading on Friday, hitting $136.23. 1,033,172 shares of the stock were exchanged, compared to its average volume of 476,738. The firm has a market capitalization of $3.44 billion, a P/E ratio of 20.03, a PEG ratio of 1.06 and a beta of 1.42. InterDigital, Inc. has a 1-year low of $74.65 and a 1-year high of $137.97. The stock has a fifty day moving average price of $119.12 and a two-hundred day moving average price of $109.40. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.16 by $0.06. The company had revenue of $263.54 million for the quarter, compared to analyst estimates of $250.15 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. As a group, sell-side analysts predict that InterDigital, Inc. will post 6.64 earnings per share for the current year.

InterDigital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. InterDigital’s dividend payout ratio (DPR) is currently 23.53%.

Insider Buying and Selling at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $103.87, for a total value of $67,515.50. Following the transaction, the chief technology officer now directly owns 64,517 shares in the company, valued at approximately $6,701,380.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $103.87, for a total value of $67,515.50. Following the sale, the chief technology officer now directly owns 64,517 shares in the company, valued at $6,701,380.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John D. Jr. Markley sold 750 shares of InterDigital stock in a transaction 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 transaction, the director now directly owns 12,202 shares of the company’s stock, valued at $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.