Cardinal Capital Management lifted its stake in shares of InterDigital Wireless Inc (NASDAQ:IDCC) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,391 shares of the Wireless communications provider’s stock after purchasing an additional 274 shares during the quarter. Cardinal Capital Management’s holdings in InterDigital Wireless were worth $487,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV boosted its position in shares of InterDigital Wireless by 9.4% during the first quarter. Rowland & Co. Investment Counsel ADV now owns 12,837 shares of the Wireless communications provider’s stock valued at $847,000 after buying an additional 1,099 shares during the last quarter. Norges Bank acquired a new position in InterDigital Wireless in the fourth quarter valued at $42,421,000. APG Asset Management N.V. increased its stake in InterDigital Wireless by 33.3% in the fourth quarter. APG Asset Management N.V. now owns 16,800 shares of the Wireless communications provider’s stock valued at $976,000 after purchasing an additional 4,200 shares during the period. Amalgamated Bank increased its stake in InterDigital Wireless by 33.9% in the fourth quarter. Amalgamated Bank now owns 5,181 shares of the Wireless communications provider’s stock valued at $344,000 after purchasing an additional 1,313 shares during the period. Finally, HRT Financial LLC acquired a new position in InterDigital Wireless in the fourth quarter valued at $440,000. 77.36% of the stock is currently owned by institutional investors.
Several analysts recently commented on the stock. BidaskClub upgraded shares of InterDigital Wireless from a “strong sell” rating to a “sell” rating in a report on Friday, April 5th. TheStreet downgraded InterDigital Wireless from a “b” rating to a “c” rating in a report on Thursday, February 28th. Zacks Investment Research downgraded InterDigital Wireless from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, B. Riley set a $90.00 price objective on InterDigital Wireless and gave the company a “buy” rating in a report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. InterDigital Wireless currently has an average rating of “Buy” and a consensus price target of $93.75.
InterDigital Wireless (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, February 21st. The Wireless communications provider reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.18). InterDigital Wireless had a return on equity of 7.95% and a net margin of 20.78%. The business had revenue of $75.33 million during the quarter, compared to analysts’ expectations of $77.36 million. During the same period in the prior year, the firm posted $1.48 EPS. The firm’s revenue for the quarter was down 63.3% on a year-over-year basis. As a group, analysts forecast that InterDigital Wireless Inc will post 0.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.40 annualized dividend and a yield of 2.08%. InterDigital Wireless’s dividend payout ratio is currently 77.35%.
In other InterDigital Wireless news, CEO William J. Merritt sold 15,000 shares of the business’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $71.62, for a total value of $1,074,300.00. Following the transaction, the chief executive officer now owns 156,549 shares of the company’s stock, valued at $11,212,039.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.
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InterDigital Wireless Company Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides 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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