InterDigital, Inc. (IDCC) Shares Sold by BTIM Corp.

BTIM Corp. lowered its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 18.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 285,568 shares of the Wireless communications provider’s stock after selling 65,048 shares during the period. BTIM Corp. owned about 0.82% of InterDigital worth $22,074,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Tyers Asset Management LLC boosted its stake in InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock valued at $101,000 after buying an additional 32 shares during the last quarter. TrimTabs Asset Management LLC boosted its stake in InterDigital by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the Wireless communications provider’s stock valued at $117,000 after buying an additional 640 shares during the last quarter. Segantii Capital Management Ltd purchased a new stake in InterDigital during the first quarter valued at approximately $129,000. Elkfork Partners LLC boosted its stake in InterDigital by 2.8% in the first quarter. Elkfork Partners LLC now owns 1,606 shares of the Wireless communications provider’s stock valued at $139,000 after buying an additional 44 shares during the last quarter. Finally, Meadow Creek Investment Management LLC boosted its stake in InterDigital by 2.8% in the first quarter. Meadow Creek Investment Management LLC now owns 2,044 shares of the Wireless communications provider’s stock valued at $176,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 69.33% of the company’s stock.

InterDigital, Inc. (IDCC) opened at 71.90 on Tuesday. InterDigital, Inc. has a 52-week low of $63.86 and a 52-week high of $102.30. The firm’s 50 day moving average price is $78.47 and its 200 day moving average price is $85.09. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 7.84 and a beta of 1.00.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.05. InterDigital had a return on equity of 27.36% and a net margin of 37.96%. The company had revenue of $135.78 million for the quarter, compared to analyst estimates of $133.69 million. During the same quarter last year, the company earned $1.14 earnings per share. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. Equities research analysts anticipate that InterDigital, Inc. will post $3.59 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 12th were issued a $0.30 dividend. The ex-dividend date was Monday, July 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.67%. InterDigital’s dividend payout ratio is presently 13.00%.

Several research firms have commented on IDCC. B. Riley restated a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research note on Tuesday, June 13th. Zacks Investment Research upgraded InterDigital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine upgraded InterDigital from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 25th. Finally, Benchmark Co. assumed coverage on InterDigital in a research note on Tuesday, April 25th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $92.50.

In other news, EVP Lawrence F. Shay sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $85.88, for a total value of $687,040.00. Following the transaction, the executive vice president now owns 48,458 shares in the company, valued at $4,161,573.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey K. Belk sold 800 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $84.39, for a total value of $67,512.00. Following the completion of the transaction, the director now owns 17,801 shares in the company, valued at approximately $1,502,226.39. The disclosure for this sale can be found here. Insiders sold 9,300 shares of company stock worth $794,127 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

About InterDigital

InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.