Contravisory Investment Management Inc. trimmed its position in InterDigital, Inc. (NASDAQ:IDCC) by 13.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,335 shares of the Wireless communications provider’s stock after selling 358 shares during the period. Contravisory Investment Management Inc.’s holdings in InterDigital were worth $142,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC increased its holdings in InterDigital by 170.5% in the third quarter. Cubist Systematic Strategies LLC now owns 46,495 shares of the Wireless communications provider’s stock valued at $2,653,000 after purchasing an additional 29,308 shares during the period. Weld Capital Management LLC acquired a new stake in InterDigital in the third quarter valued at $217,000. Public Sector Pension Investment Board acquired a new stake in InterDigital in the third quarter valued at $2,508,000. Boston Partners increased its holdings in InterDigital by 2,239.2% in the third quarter. Boston Partners now owns 720,038 shares of the Wireless communications provider’s stock valued at $41,085,000 after purchasing an additional 689,256 shares during the period. Finally, Great West Life Assurance Co. Can increased its holdings in InterDigital by 125.9% in the third quarter. Great West Life Assurance Co. Can now owns 36,670 shares of the Wireless communications provider’s stock valued at $270,000 after purchasing an additional 20,435 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.
Shares of IDCC stock opened at $65.27 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.25 and a quick ratio of 3.25. The stock has a market cap of $2.01 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 3.81 and a beta of 1.16. The stock has a 50-day moving average of $62.09 and a 200-day moving average of $60.18. InterDigital, Inc. has a one year low of $31.04 and a one year high of $67.06.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 13th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 12th. This represents a $1.40 dividend on an annualized basis and a yield of 2.14%. InterDigital’s payout ratio is 212.12%.
IDCC has been the subject of a number of recent research reports. Zacks Investment Research upgraded InterDigital from a “strong sell” rating to a “hold” rating and set a $60.00 price objective for the company in a report on Wednesday, October 7th. BidaskClub upgraded InterDigital from a “strong sell” rating to a “sell” rating in a report on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $86.20.
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, 5G, and IEEE 802-related products and networks.
Read More: Stochastic Momentum Index (SMI)
Want to see what other hedge funds are holding IDCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InterDigital, Inc. (NASDAQ:IDCC).
Receive News & Ratings for InterDigital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital and related companies with MarketBeat.com's FREE daily email newsletter.