D. E. Shaw & Co. Inc. cut its stake in InterDigital, Inc. (NASDAQ:IDCC) by 30.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 686,934 shares of the Wireless communications provider’s stock after selling 294,057 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in InterDigital were worth $43,586,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in InterDigital by 9.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,019,153 shares of the Wireless communications provider’s stock worth $64,746,000 after buying an additional 85,392 shares during the last quarter. Disciplined Growth Investors Inc. MN bought a new stake in shares of InterDigital during the first quarter worth $42,383,000. Rubric Capital Management LP lifted its position in shares of InterDigital by 15.9% during the first quarter. Rubric Capital Management LP now owns 588,736 shares of the Wireless communications provider’s stock worth $37,355,000 after purchasing an additional 80,927 shares during the last quarter. Neumeier Poma Investment Counsel LLC lifted its position in shares of InterDigital by 7.4% during the first quarter. Neumeier Poma Investment Counsel LLC now owns 556,335 shares of the Wireless communications provider’s stock worth $35,299,000 after purchasing an additional 38,175 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of InterDigital by 3.5% during the first quarter. Geode Capital Management LLC now owns 514,551 shares of the Wireless communications provider’s stock worth $32,648,000 after purchasing an additional 17,471 shares during the last quarter. Institutional investors own 79.14% of the company’s stock.
In related news, Director Jean F. Rankin sold 1,086 shares of InterDigital stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $83.24, for a total value of $90,398.64. Following the completion of the sale, the director now directly owns 13,358 shares in the company, valued at $1,111,919.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, May 6th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.19. The firm had revenue of $82.36 million during the quarter, compared to the consensus estimate of $79.97 million. InterDigital had a return on equity of 4.07% and a net margin of 13.76%. InterDigital’s revenue was up 8.1% compared to the same quarter last year. On average, analysts forecast that InterDigital, Inc. will post 0.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 28th. Investors of record on Wednesday, July 14th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, July 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.15%. InterDigital’s payout ratio is currently 97.22%.
InterDigital 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, 5G, and IEEE 802-related products and networks.
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