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Oregon Public Employees Retirement Fund Acquires 530 Shares of InterDigital, Inc. (IDCC)

InterDigital logoOregon Public Employees Retirement Fund raised its position in InterDigital, Inc. (NASDAQ:IDCC) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,600 shares of the Wireless communications provider’s stock after buying an additional 530 shares during the period. Oregon Public Employees Retirement Fund’s holdings in InterDigital were worth $974,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IDCC. Vanguard Group Inc. increased its position in shares of InterDigital by 3.3% in the first quarter. Vanguard Group Inc. now owns 2,825,391 shares of the Wireless communications provider’s stock worth $243,831,000 after buying an additional 89,997 shares in the last quarter. State Street Corp increased its position in shares of InterDigital by 2.0% in the first quarter. State Street Corp now owns 1,108,236 shares of the Wireless communications provider’s stock worth $95,642,000 after buying an additional 21,278 shares in the last quarter. AQR Capital Management LLC increased its position in shares of InterDigital by 17.7% in the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock worth $56,834,000 after buying an additional 99,018 shares in the last quarter. Geode Capital Management LLC increased its position in shares of InterDigital by 5.1% in the first quarter. Geode Capital Management LLC now owns 392,469 shares of the Wireless communications provider’s stock worth $33,870,000 after buying an additional 19,139 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of InterDigital by 29.7% in the first quarter. Gotham Asset Management LLC now owns 371,155 shares of the Wireless communications provider’s stock worth $32,031,000 after buying an additional 84,884 shares in the last quarter. Institutional investors own 69.41% of the company’s stock.

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Shares of InterDigital, Inc. (NASDAQ:IDCC) traded up 0.07% during trading on Friday, reaching $71.85. 103,661 shares of the company were exchanged. The stock has a market capitalization of $2.49 billion, a PE ratio of 7.83 and a beta of 1.00. InterDigital, Inc. has a one year low of $58.98 and a one year high of $102.30. The stock has a 50-day moving average price of $78.47 and a 200-day moving average price of $85.09.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.05. The business had revenue of $135.78 million during the quarter, compared to analysts’ expectations of $133.69 million. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 EPS. Analysts forecast that InterDigital, Inc. will post $3.59 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Wednesday, July 12th were given a dividend of $0.30 per share. The ex-dividend date was Monday, July 10th. This represents a $1.20 annualized dividend and a yield of 1.67%. InterDigital’s payout ratio is currently 13.00%.

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IDCC has been the subject of a number of analyst reports. B. Riley raised shares of InterDigital from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $100.00 in a research note on Monday, April 24th. Benchmark Co. initiated coverage on shares of InterDigital in a research note on Tuesday, April 25th. They set a “hold” rating for the company. Zacks Investment Research raised shares of InterDigital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine raised shares of InterDigital from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 25th. Finally, BidaskClub downgraded shares of InterDigital from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. InterDigital has an average rating of “Hold” and a consensus price target of $92.50.

In other InterDigital news, EVP James J. Nolan sold 8,596 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $83.83, for a total transaction of $720,602.68. Following the completion of the sale, the executive vice president now owns 57,149 shares of the company’s stock, valued at approximately $4,790,800.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey K. Belk sold 800 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $84.39, for a total transaction of $67,512.00. Following the sale, the director now directly owns 17,801 shares of the company’s stock, valued at approximately $1,502,226.39. The disclosure for this sale can be found here. Insiders have sold a total of 17,896 shares of company stock valued at $1,514,730 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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