Zurcher Kantonalbank Zurich Cantonalbank lowered its position in InterDigital Wireless Inc (NASDAQ:IDCC) by 22.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,020 shares of the Wireless communications provider’s stock after selling 576 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in InterDigital Wireless were worth $133,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in InterDigital Wireless by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,131,754 shares of the Wireless communications provider’s stock worth $75,183,000 after buying an additional 14,767 shares during the period. Norges Bank bought a new position in shares of InterDigital Wireless during the 4th quarter valued at about $42,421,000. Principal Financial Group Inc. boosted its holdings in shares of InterDigital Wireless by 12.9% during the 4th quarter. Principal Financial Group Inc. now owns 180,483 shares of the Wireless communications provider’s stock valued at $11,989,000 after purchasing an additional 20,623 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of InterDigital Wireless by 7.2% during the 4th quarter. Two Sigma Advisers LP now owns 157,510 shares of the Wireless communications provider’s stock valued at $10,463,000 after purchasing an additional 10,582 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings 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 valued at $8,840,000 after purchasing an additional 95,593 shares during the last quarter. 79.27% of the stock is owned by institutional investors.
Shares of IDCC traded down $0.11 during midday trading on Wednesday, hitting $66.44. 542 shares of the company traded hands, compared to its average volume of 320,236. InterDigital Wireless Inc has a 52 week low of $62.34 and a 52 week high of $85.85. The company has a market capitalization of $2.11 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 7.57 and a beta of 1.15. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.02.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital Wireless’s payout ratio is 77.35%.
IDCC has been the subject of several research reports. Zacks Investment Research raised shares of InterDigital Wireless from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Tuesday, February 12th. B. Riley set a $90.00 price objective on shares of InterDigital Wireless and gave the company a “buy” rating in a report on Wednesday, February 20th. Finally, TheStreet downgraded shares of InterDigital Wireless from a “b” rating to a “c” rating in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. InterDigital Wireless has an average rating of “Buy” and a consensus target price of $94.25.
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InterDigital Wireless 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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