Paloma Partners Management Co acquired a new position in shares of InterDigital Wireless Inc (NASDAQ:IDCC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,735 shares of the Wireless communications provider’s stock, valued at approximately $713,000.
Several other institutional investors have also made changes to their positions in IDCC. Two Sigma Investments LP boosted its position in shares of InterDigital Wireless by 255.0% during the 4th quarter. Two Sigma Investments LP now owns 133,076 shares of the Wireless communications provider’s stock worth $8,840,000 after purchasing an additional 95,593 shares in the last quarter. Vanguard Group Inc boosted its position in shares of InterDigital Wireless by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 3,239,611 shares of the Wireless communications provider’s stock worth $259,169,000 after buying an additional 79,520 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of InterDigital Wireless by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,239,611 shares of the Wireless communications provider’s stock worth $259,169,000 after buying an additional 79,520 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of InterDigital Wireless by 7.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,116,987 shares of the Wireless communications provider’s stock worth $89,359,000 after buying an additional 75,668 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of InterDigital Wireless by 11.7% in the 3rd quarter. Renaissance Technologies LLC now owns 465,593 shares of the Wireless communications provider’s stock worth $37,247,000 after buying an additional 48,598 shares in the last quarter. 77.36% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on IDCC shares. Zacks Investment Research upgraded shares of InterDigital Wireless from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Wednesday, January 23rd. Sidoti started coverage on shares of InterDigital Wireless in a research report on Thursday, January 3rd. They issued a “buy” rating on the stock. B. Riley set a $90.00 price objective on shares of InterDigital Wireless and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Finally, TheStreet lowered shares of InterDigital Wireless from a “b” rating to a “c” rating in a report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. InterDigital Wireless has an average rating of “Buy” and an average target price of $93.75.
InterDigital Wireless (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, February 21st. The Wireless communications provider reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.18). The company had revenue of $75.33 million for the quarter, compared to analyst estimates of $77.36 million. InterDigital Wireless had a net margin of 20.78% and a return on equity of 7.95%. The company’s revenue was down 63.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 EPS. As a group, equities research analysts anticipate that InterDigital Wireless Inc will post 0.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Tuesday, April 9th. InterDigital Wireless’s dividend payout ratio (DPR) is presently 77.35%.
In other InterDigital Wireless news, CEO William J. Merritt sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $71.62, for a total value of $1,074,300.00. Following the completion of the transaction, the chief executive officer now owns 156,549 shares in the company, valued at approximately $11,212,039.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
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InterDigital Wireless 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 and IEEE 802-related products and networks.
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