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


Assenagon Asset Management SA bought a new position in InterDigital, Inc. (NASDAQ:IDCC – Get Rating) during 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. boosted its holdings in InterDigital by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 333,536 shares of the Wireless communications provider’s stock valued at $23,892,000 after acquiring an additional 7,137 shares during the last quarter. Penserra Capital Management LLC boosted 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 valued at $7,779,000 after buying an additional 20,488 shares during the period. KBC Group NV acquired a new stake in shares of InterDigital in the fourth quarter worth about $478,000. Geode Capital Management LLC increased its holdings in shares of InterDigital by 1.3% in 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 boosted its holdings in shares of InterDigital by 28.9% in 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 buying an additional 4,951 shares during the period. 82.04% of the shares are owned by institutional investors and hedge funds.

Separately, StockNews.com downgraded 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 shares were 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 hyperlink. 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 of 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. has a 52-week low of $56.13 and a 52-week high of $75.25. The company has a market cap 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 of $61.89 and a 200-day moving average 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, topping analysts’ consensus estimates of $0.37 by $0.21. InterDigital has 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. In the same period last year, the company posted earnings of $0.18 per share. InterDigital’s revenue for the quarter was up 23.0% on a year-over-year basis. Analysts expect that InterDigital, Inc. will post 2.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 13th will be given a $0.35 dividend. This represents an annualized dividend of $1.40 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 enhance wireless communications in the United States, China, South Korea, Japan, Taiwan and Europe. 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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Want to see what other hedge funds are holding IDCC? Visit HoldingsChannel.com to get the latest 13F filings and insider deals for InterDigital, Inc. (NASDAQ: IDCC – Get Rating ).

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)



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