InterDigital (IDCC) Position Reduced by Millennium Management LLC

Millennium Management LLC trimmed its position in shares of InterDigital (NASDAQ:IDCC) by 14.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 235,557 shares of the Wireless communications provider’s stock after selling 39,755 shares during the quarter. Millennium Management LLC owned about 0.68% of InterDigital worth $17,938,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IDCC. Cardinal Capital Management LLC CT purchased a new stake in shares of InterDigital during the 4th quarter valued at about $25,689,000. Two Sigma Advisers LP boosted its holdings in shares of InterDigital by 65.7% during the 4th quarter. Two Sigma Advisers LP now owns 300,228 shares of the Wireless communications provider’s stock valued at $22,862,000 after acquiring an additional 119,000 shares during the last quarter. General American Investors Co. Inc. purchased a new stake in shares of InterDigital during the 4th quarter valued at about $6,208,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of InterDigital during the 4th quarter valued at about $4,875,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of InterDigital by 6.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 985,849 shares of the Wireless communications provider’s stock valued at $72,708,000 after acquiring an additional 62,291 shares during the last quarter. 74.16% of the stock is currently owned by institutional investors.

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Shares of NASDAQ:IDCC opened at $73.60 on Monday. InterDigital has a twelve month low of $67.55 and a twelve month high of $93.00. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2,548.55, a PE ratio of 12.15 and a beta of 0.99.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, February 22nd. The Wireless communications provider reported $2.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $1.60. InterDigital had a net margin of 32.70% and a return on equity of 26.52%. The firm had revenue of $205.30 million for the quarter, compared to analysts’ expectations of $191.42 million. During the same quarter in the prior year, the business earned $3.85 EPS. The business’s quarterly revenue was down 25.0% on a year-over-year basis. analysts expect that InterDigital will post 1.58 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Monday, April 23rd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Friday, April 20th. InterDigital’s dividend payout ratio (DPR) is presently 23.10%.

A number of analysts have recently issued reports on IDCC shares. B. Riley reaffirmed a “buy” rating and set a $100.00 price target on shares of InterDigital in a report on Monday, December 4th. BidaskClub raised shares of InterDigital from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Zacks Investment Research downgraded shares of InterDigital from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, Dougherty & Co raised shares of InterDigital from a “neutral” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. InterDigital has an average rating of “Hold” and an average target price of $88.67.

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InterDigital Company Profile

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

Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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