The Securities & Exchange Commission recently disclosed Credit Suisse AG’s stake in InterDigital, Inc. showing an impressive 10.5% increase in the fourth quarter of last year. According to their latest Form 13F filing with the government agency, it had purchased an additional 20,898 shares of the Wireless communications provider’s stock and now owns about 0.74% worth a staggering $10,851,000.
More than that, InterDigital has also announced its recent quarterly dividend which is set to be paid on July 26th of this year for shareholders of record on July 12th who will receive a $0.35 dividend each. The ex-dividend date is expected to happen a day before the said payout- on July 11th. It then shows an annualized dividend amounting to $1.40 per share and a yield of 1.59%. Presently, InterDigital’s payout ratio is recorded at 22.99%.
Many research analyst reports have been made regarding IDCC including comments coming from StockNews.com stating the company as “buy.” Meanwhile, Bank of America upgraded its rating from “neutral” to “buy” while raising its target price from $55 to $105 back in May with four equities research analysts voting favorably for the stock based on data sourced from Bloomberg.com where IDCC currently holds a consensus rating of “Buy,” alongside having a consensus price target set at roughly around $92.50.
Credit Suisse AG’s increased interest towards InterDigital is surely something that ups its reputation within the industry further alongside those conclusions gathered by various research analysts about the company as they paint a picture positivity- indicating an overall upward trend eventually for IDCC in terms of dividends yields and investment growth for long-term investors’ portfolios alike.
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Institutional Investors Increase Stakes in InterDigital as Company Reports Impressive Earnings
The financial world is abuzz with the news that a number of institutional investors have changed their stake in Wireless communications provider, InterDigital. Boston Trust Walden Corp has increased its holdings in the company by 13.2% in the fourth quarter, while Capital Management Corp VA increased its stake by 20.9% during the same period. Vanguard Group Inc. also added to its holding, increasing its stake by 1.5% in Q1. Meanwhile, Cubist Systematic Strategies LLC raised its holdings by an impressive 100.3% this quarter and Balyasny Asset Management recently purchased a new stake worth $1,839,000.
News of these changes coincides with reports that insider Eric Cohen recently sold shares worth over half a million dollars at an average price of $72.86 per share. The transaction was disclosed in a legal filing with the Securities and Exchange Commission (SEC), and followed on from Eeva K. Hakoranta’s recent sale of 1,137 shares for $82,807.71.
Despite these high-profile transactions, shareholders can look forward to receiving a quarterly dividend as scheduled on Wednesday July 26th; InterDigital is set to pay out $0.35 per share to those who are listed as shareholders on July 12th.
NASDAQ IDCC opened today at $88.31 and currently boasts a quick ratio of 4:7 and has both a current ratio of 4:7 and debt-to-equity ratio of .97%. With the company enjoying a fifty-two week high of $88:64 and low point of just over $40 per share respectively; its price-to-earnings ratio standing at approximately14:50; price-to-earnings-growth comes in at roughly1:04; and beta stands at around 1:20.
InterDigital’s fortunes continue to flourish overall; it reported impressive earnings results on May 4th, with earnings per share standing at $4.00 for the quarter. This figure beat the consensus estimate of $0.62 per share by an impressive $3.38. InterDigital’s revenue during the quarter was much higher than expected, totalling $202 million compared to the anticipated figure of just $97.40 million.
All in all, with a market cap of more than $2 billion and predictions that it will post around 6:04 earnings per share for this fiscal year alone, InterDigital looks set to continue making waves within the wireless communication provider sector and beyond in the years ahead.