D. E. Shaw & Co. Inc. Decreases Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

D. E. Shaw & Co. Inc. trimmed its position in InterDigital, Inc. (NASDAQ:IDCC) by 30.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 686,934 shares of the Wireless communications provider’s stock after selling 294,057 shares during the quarter. D. E. Shaw & Co. Inc. owned 2.23% of InterDigital worth $43,586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of IDCC. LPL Financial LLC increased its stake in shares of InterDigital by 9.5% in the fourth quarter. LPL Financial LLC now owns 5,771 shares of the Wireless communications provider’s stock worth $350,000 after buying an additional 502 shares during the period. Federated Hermes Inc. increased its position in InterDigital by 4.9% during the 4th quarter. Federated Hermes Inc. now owns 7,044 shares of the Wireless communications provider’s stock valued at $427,000 after purchasing an additional 332 shares during the period. American International Group Inc. increased its position in InterDigital by 18.0% during the 4th quarter. American International Group Inc. now owns 87,847 shares of the Wireless communications provider’s stock valued at $5,331,000 after purchasing an additional 13,371 shares during the period. Charles Schwab Investment Management Inc. increased its position in InterDigital by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 299,721 shares of the Wireless communications provider’s stock valued at $18,188,000 after purchasing an additional 2,817 shares during the period. Finally, Captrust Financial Advisors increased its position in InterDigital by 27.8% during the 4th quarter. Captrust Financial Advisors now owns 690 shares of the Wireless communications provider’s stock valued at $42,000 after purchasing an additional 150 shares during the period. 79.14% of the stock is currently owned by institutional investors.

In other news, Director Jean F. Rankin sold 1,086 shares of the company’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $83.24, for a total value of $90,398.64. Following the sale, the director now directly owns 13,358 shares of the company’s stock, valued at approximately $1,111,919.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by corporate insiders.

Shares of InterDigital stock opened at $65.21 on Thursday. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average is $74.47. The stock has a market cap of $2.01 billion, a P/E ratio of 40.25, a P/E/G ratio of 18.14 and a beta of 1.08. InterDigital, Inc. has a 12-month low of $54.37 and a 12-month high of $85.75.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, May 6th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.19. The firm had revenue of $82.36 million for the quarter, compared to the consensus estimate of $79.97 million. InterDigital had a net margin of 13.76% and a return on equity of 4.07%. InterDigital’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts expect that InterDigital, Inc. will post 0.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Wednesday, July 14th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, July 13th. InterDigital’s dividend payout ratio is presently 97.22%.

InterDigital Profile

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.

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Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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