Emerald Mutual Fund Advisers Trust Grows Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Emerald Mutual Fund Advisers Trust raised its stake in InterDigital, Inc. (NASDAQ:IDCC) by 23.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,122 shares of the Wireless communications provider’s stock after buying an additional 22,653 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in InterDigital were worth $16,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IDCC. Simplicity Wealth LLC increased its stake in InterDigital by 1.5% in the third quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock valued at $665,000 after acquiring an additional 69 shares during the last quarter. Miller Howard Investments Inc. NY raised its holdings in shares of InterDigital by 2.0% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock valued at $536,000 after buying an additional 90 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of InterDigital by 9.4% during the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock valued at $166,000 after buying an additional 101 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 109 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after buying an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Insider Activity

In related news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,205 shares of company stock valued at $716,218. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Roth Mkm lifted their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

InterDigital Price Performance

IDCC opened at $165.70 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 1.51. InterDigital, Inc. has a 1 year low of $76.82 and a 1 year high of $166.46. The stock’s 50 day simple moving average is $142.84 and its 200 day simple moving average is $126.06. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.95 and a beta of 1.38.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $3.77. InterDigital had a net margin of 36.69% and a return on equity of 40.49%. The firm had revenue of $223.49 million for the quarter, compared to analysts’ expectations of $95.63 million. As a group, analysts predict that InterDigital, Inc. will post 9.06 earnings per share for the current year.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio (DPR) is 19.23%.

InterDigital Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.