InterDigital Wireless Inc (IDCC) Shares Sold by Stone Ridge Asset Management LLC

Stone Ridge Asset Management LLC trimmed its stake in shares of InterDigital Wireless Inc (NASDAQ:IDCC) by 51.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,188 shares of the Wireless communications provider’s stock after selling 5,439 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in InterDigital Wireless were worth $345,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its position in InterDigital Wireless by 45.4% during 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 purchasing an additional 1,475 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of 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 purchasing an additional 44,280 shares during the period. Rhumbline Advisers boosted its holdings in shares of 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 purchasing an additional 13,917 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of 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 purchasing an additional 1,705 shares during the period. Finally, Martingale Asset Management L P boosted its holdings in shares of InterDigital Wireless by 72.7% in the third quarter. Martingale Asset Management L P now owns 31,605 shares of the Wireless communications provider’s stock valued at $2,529,000 after purchasing an additional 13,300 shares during the period. Institutional investors own 77.36% of the company’s stock.

Shares of InterDigital Wireless stock traded down $0.24 during trading on Friday, hitting $69.06. 181,220 shares of the stock were exchanged, compared to its average volume of 247,282. The company has a current ratio of 5.71, a quick ratio of 5.71 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.25 billion, a P/E ratio of 38.15, a price-to-earnings-growth ratio of 5.52 and a beta of 1.18. InterDigital Wireless Inc has a 12-month low of $62.34 and a 12-month high of $85.85.

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 analysts’ consensus estimates of $0.23 by ($0.18). The business had revenue of $75.33 million during 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 for the quarter was down 63.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 earnings per share. As a group, sell-side analysts forecast that InterDigital Wireless Inc will post 0.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Tuesday, April 9th. InterDigital Wireless’s dividend payout ratio is currently 77.35%.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised InterDigital Wireless from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Tuesday, January 15th. B. Riley set a $90.00 price target on shares of InterDigital Wireless and gave the company a “buy” rating in a report on Wednesday, February 20th. BidaskClub raised shares of InterDigital Wireless from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 16th. Finally, Sidoti began coverage on shares of InterDigital Wireless in a research report on Thursday, January 3rd. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $93.75.

In related news, CEO William J. Merritt sold 15,000 shares of the business’s stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $71.62, for a total transaction of $1,074,300.00. Following the sale, the chief executive officer now owns 156,549 shares of the company’s stock, valued at $11,212,039.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by 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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Institutional Ownership by Quarter for InterDigital Wireless (NASDAQ:IDCC)

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