Robeco Institutional Asset Management B.V. cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 22.2% during the third quarter, HoldingsChannel.com reports. The firm owned 30,329 shares of the Wireless communications provider’s stock after selling 8,633 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in InterDigital were worth $2,425,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in IDCC. Principal Financial Group Inc. grew its position in InterDigital by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 152,941 shares of the Wireless communications provider’s stock worth $11,256,000 after purchasing an additional 3,075 shares during the period. Fox Run Management L.L.C. acquired a new stake in InterDigital during the 2nd quarter worth about $219,000. Acadian Asset Management LLC grew its position in InterDigital by 108.8% during the 2nd quarter. Acadian Asset Management LLC now owns 13,378 shares of the Wireless communications provider’s stock worth $1,083,000 after purchasing an additional 6,971 shares during the period. Meeder Asset Management Inc. grew its position in InterDigital by 2,161.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,009 shares of the Wireless communications provider’s stock worth $567,000 after purchasing an additional 6,699 shares during the period. Finally, Bessemer Group Inc. acquired a new stake in InterDigital during the 2nd quarter worth about $591,000. Institutional investors own 77.45% of the company’s stock.
In other news, EVP James J. Nolan sold 5,093 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $79.82, for a total transaction of $406,523.26. Following the sale, the executive vice president now directly owns 39,560 shares in the company, valued at approximately $3,157,679.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, November 1st. The Wireless communications provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.36. The company had revenue of $75.08 million for the quarter, compared to the consensus estimate of $72.59 million. InterDigital had a return on equity of 17.50% and a net margin of 26.19%. The firm’s revenue for the quarter was down 22.9% compared to the same quarter last year. During the same period last year, the firm earned $1.00 EPS. On average, analysts expect that InterDigital, Inc. will post 2.05 EPS for the current year.
IDCC has been the topic of several analyst reports. Zacks Investment Research downgraded InterDigital from a “hold” rating to a “strong sell” rating in a research report on Monday, August 6th. BidaskClub downgraded InterDigital from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. ValuEngine downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, TheStreet downgraded InterDigital from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $94.40.
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.
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