Two Sigma Investments LP Grows Position in InterDigital Wireless Inc (NASDAQ:IDCC)

Two Sigma Investments LP boosted its stake in shares of InterDigital Wireless Inc (NASDAQ:IDCC) by 255.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 133,076 shares of the Wireless communications provider’s stock after purchasing an additional 95,593 shares during the period. Two Sigma Investments LP owned 0.39% of InterDigital Wireless worth $8,840,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of InterDigital Wireless by 83.0% during the 3rd quarter. Victory Capital Management Inc. now owns 20,457 shares of the Wireless communications provider’s stock worth $1,637,000 after acquiring an additional 9,280 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in InterDigital Wireless by 45.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,727 shares of the Wireless communications provider’s stock valued at $378,000 after buying an additional 1,475 shares during the period. Prudential Financial Inc. grew its position in InterDigital Wireless by 79.3% in the third quarter. Prudential Financial Inc. now owns 100,089 shares of the Wireless communications provider’s stock valued at $8,007,000 after acquiring an additional 44,280 shares in the last quarter. Rhumbline Advisers grew its position in InterDigital Wireless by 17.4% in the third quarter. Rhumbline Advisers now owns 93,729 shares of the Wireless communications provider’s stock valued at $7,498,000 after acquiring an additional 13,917 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in InterDigital Wireless by 1.7% in the third quarter. Alliancebernstein L.P. now owns 102,042 shares of the Wireless communications provider’s stock valued at $8,163,000 after acquiring an additional 1,705 shares in the last quarter. 77.36% of the stock is owned by institutional investors.

Shares of InterDigital Wireless stock traded down $0.21 during trading hours on Monday, hitting $68.28. The company’s stock had a trading volume of 153,200 shares, compared to its average volume of 294,079. InterDigital Wireless Inc has a 12 month low of $62.34 and a 12 month high of $85.85. The company has a market capitalization of $2.23 billion, a P/E ratio of 37.72, a price-to-earnings-growth ratio of 5.39 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.71 and a quick ratio of 5.71.

InterDigital Wireless (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, February 21st. The Wireless communications provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.18). InterDigital Wireless had a return on equity of 7.95% and a net margin of 20.78%. The business had revenue of $75.33 million during the quarter, compared to the consensus estimate of $77.36 million. During the same quarter last year, the company earned $1.48 earnings per share. The firm’s revenue was down 63.3% compared to the same quarter last year. On average, equities analysts anticipate that InterDigital Wireless Inc will post 0.83 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.05%. InterDigital Wireless’s dividend payout ratio (DPR) is currently 77.35%.

A number of research firms have issued reports on IDCC. Zacks Investment Research cut InterDigital Wireless from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. BidaskClub raised InterDigital Wireless from a “strong sell” rating to a “sell” rating in a research note on Friday, April 5th. TheStreet lowered InterDigital Wireless from a “b” rating to a “c” rating in a research note on Thursday, February 28th. Finally, Sidoti initiated coverage on InterDigital Wireless in a research note on Thursday, January 3rd. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $93.75.

In other InterDigital Wireless news, CEO William J. Merritt sold 15,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 156,549 shares in the company, valued at $11,212,039.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is 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.

Further Reading: Dollar Cost Averaging

Institutional Ownership by Quarter for InterDigital Wireless (NASDAQ:IDCC)

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