21,534 Shares in InterDigital, Inc. (NASDAQ:IDCC) Acquired by Inspire Advisors LLC

Inspire Advisors LLC bought a new position in InterDigital, Inc. (NASDAQ:IDCC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,534 shares of the Wireless communications provider’s stock, valued at approximately $2,510,000. InterDigital makes up about 0.3% of Inspire Advisors LLC’s portfolio, making the stock its 29th largest holding. Inspire Advisors LLC owned 0.09% of InterDigital as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. 1620 Investment Advisors Inc. acquired a new position in InterDigital in the 2nd quarter valued at $29,000. Riverview Trust Co acquired a new position in shares of InterDigital during the first quarter worth approximately $31,000. GAMMA Investing LLC grew its stake in shares of InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after acquiring an additional 124 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 109 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new position in InterDigital during the 1st quarter valued at $64,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IDCC shares. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd. Roth Mkm upped their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday.

InterDigital Trading Up 2.7 %

Shares of IDCC opened at $135.99 on Friday. The stock has a 50 day simple moving average of $130.71 and a 200-day simple moving average of $115.42. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.42 billion, a PE ratio of 20.00, a PEG ratio of 0.84 and a beta of 1.39. InterDigital, Inc. has a 1 year low of $74.65 and a 1 year high of $140.60.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. The business had revenue of $223.49 million during the quarter, compared to analysts’ expectations of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. On average, sell-side analysts predict that InterDigital, Inc. will post 9.05 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.32%. InterDigital’s dividend payout ratio is 23.53%.

Insider Activity at InterDigital

In related news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the transaction, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

InterDigital Company Profile

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.