InterDigital Inc (IDCC)

[Gamco]

36,338 Shares in InterDigital, Inc. (NASDAQ:IDCC) Bought by Great West Life Assurance Co. Can
TUE., JANUARY 31, 2023
MARKETBEAT

Great West Life Assurance Co. Can bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Get Rating) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 36,338 shares of the Wireless communications provider's stock, valued at approximately $1,466,000. Great West Life Assurance Co. Can owned about 0.12% of InterDigital as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CWM LLC raised its position in InterDigital by 62.0% during the 3rd quarter. CWM LLC now owns 619 shares of the Wireless communications provider's stock worth $25,000 after purchasing an additional 237 shares during the last quarter. US Bancorp DE grew its holdings in InterDigital by 34.8% during the 3rd quarter. US Bancorp DE now owns 1,216 shares of the Wireless communications provider's stock worth $50,000 after acquiring an additional 314 shares during the period. Lazard Asset Management LLC grew its holdings in InterDigital by 49.0% during the 2nd quarter. Lazard Asset Management LLC now owns 1,998 shares of the Wireless communications provider's stock worth $121,000 after acquiring an additional 657 shares during the period. Nisa Investment Advisors LLC grew its holdings in InterDigital by 17.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,106 shares of the Wireless communications provider's stock worth $128,000 after acquiring an additional 320 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in InterDigital during the 2nd quarter worth about $132,000. 83.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on IDCC. TheStreet upgraded InterDigital from a "c+" rating to a "b" rating in a report on Monday, January 23rd. Jefferies Financial Group began coverage on InterDigital in a report on Friday, December 9th. They set a "buy" rating and a $80.00 price target for the company. StockNews.com began coverage on InterDigital in a report on Wednesday, October 12th. They set a "hold" rating for the company. Finally, William Blair initiated coverage on InterDigital in a report on Thursday, January 26th. They set an "outperform" rating for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, InterDigital currently has a consensus rating of "Hold" and a consensus target price of $70.00.

InterDigital Stock Performance
Shares of IDCC opened at $69.03 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.66 and a quick ratio of 4.66. The stock has a 50-day moving average of $54.36 and a 200-day moving average of $52.14. The company has a market cap of $2.05 billion, a PE ratio of 25.47, a P/E/G ratio of 1.31 and a beta of 1.11. InterDigital, Inc. has a one year low of $40.23 and a one year high of $71.73.

InterDigital (NASDAQ:IDCC - Get Rating) last issued its earnings results on Thursday, November 3rd. The Wireless communications provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.44 by $0.30. The company had revenue of $114.76 million during the quarter, compared to the consensus estimate of $113.50 million. InterDigital had a return on equity of 11.47% and a net margin of 18.38%. On average, equities research analysts predict that InterDigital, Inc. will post 2.65 EPS for the current fiscal year.

InterDigital Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 11th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, January 10th. This represents a $1.40 dividend on an annualized basis and a yield of 2.03%. InterDigital's dividend payout ratio (DPR) is currently 51.66%.

About InterDigital (Get Rating)

nterDigital, Inc engages in the design and development of technologies that enable and enhance wireless communications, and capabilities. It focuses on mobile technology and devices, which includes cellular wireless technology, Internet of Things, technology, video coding & transmission, sensor and sensor fusion technology.

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