Assenagon Asset Management SA makes new investment in InterDigital, Inc. (NASDAQ:IDCC)


Assenagon Asset Management SA bought a new position in InterDigital, Inc. (NASDAQ:IDCC – Get Rating ) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 88,162 shares of the Wireless communications provider’s stock, valued at approximately $5,625,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in InterDigital by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 333,536 shares of the Wireless communications provider’s stock worth $23,892,000 after buying an additional 7,137 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of InterDigital by 23.3% during the fourth quarter. Penserra Capital Management LLC now owns 108,604 shares of the Wireless communications provider’s stock worth $7,779,000 after buying an additional 20,488 shares during the period. KBC Group NV purchased a new stake in shares of InterDigital during the fourth quarter valued at approximately $478,000. Geode Capital Management LLC lifted its holdings in shares of InterDigital by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 535,718 shares of the Wireless communications provider’s stock valued at $38,373,000 after buying an additional 6,777 shares during the period. Finally, Rowland & Co. Investment Counsel ADV lifted its holdings in shares of InterDigital by 28.9% during the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 22,088 shares of the Wireless communications provider’s stock valued at $1,064,000 after purchasing an additional 4,951 shares during the period. 82.04% of the shares are owned by institutional investors and hedge funds.

Separately, StockNews.com cut InterDigital from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 2nd.

In other InterDigital news, Director Jean F. Rankin sold 814 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $66.83, for a total value of $54,399.62. Following the completion of the transaction, the director now directly owns 28,441 shares of the company’s stock, valued at $1,900,712.03. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. Also, insider Eeva K. Hakoranta sold 1,595 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $61.44, for a total value of $97,996.80. Following the completion of the transaction, the insider now directly owns 20,608 shares of the company’s stock, valued at $1,266,155.52. Disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Shares of InterDigital stock opened at $63.43 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.24, and a debt-to-equity ratio of 0.56. InterDigital, Inc. it has a 52-week low of $56.13 and a 52-week high of $75.25. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.44 and a beta of 1.02. The stock has a 50-day moving average price of $61.89 and a 200-day moving average price of $64.26.

InterDigital (NASDAQ:IDCC – Get Rating ) last announced its quarterly earnings results on Thursday, May 5th. The wireless communications provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.21. InterDigital had a return on equity of 10.55% and a net margin of 15.24%. The company had revenue of $101.32 million during the quarter, compared to the consensus estimate of $97.85 million. During the same period a year ago, the company posted $0.18 earnings per share. InterDigital’s revenue for the quarter was up 23.0% on a year-over-year basis. Research analysts predict that InterDigital, Inc. will post 2.9 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 13th will be issued a $0.35 dividend. This represents a dividend of $1.40 on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, July 12th. InterDigital’s payout ratio is currently 64.82%.

About InterDigital (Get rating)

InterDigital, Inc., together with its subsidiaries, designs and develops technologies that enable and improve wireless communications in the United States, China, South Korea, Japan, Taiwan and Europe. It provides technology solutions for use in digital mobile and wireless products and networks, including 2G, 3G, 4G, 5G and IEEE 802-related products and networks.

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Want to see what other hedge funds IDCC is holding? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for InterDigital, Inc. ( NASDAQ:IDCC – Get Rating ) .

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)



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