Itau Unibanco Holding S.A. Takes Position in InterDigital, Inc. (IDCC)

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Itau Unibanco Holding S.A. acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,243 shares of the Wireless communications provider’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in shares of InterDigital by 29.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 38,962 shares of the Wireless communications provider’s stock worth $3,152,000 after purchasing an additional 8,961 shares during the last quarter. Swiss National Bank raised its stake in shares of InterDigital by 3.4% during the first quarter. Swiss National Bank now owns 60,500 shares of the Wireless communications provider’s stock worth $4,453,000 after purchasing an additional 2,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of InterDigital by 5.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 239,131 shares of the Wireless communications provider’s stock worth $17,601,000 after purchasing an additional 12,582 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of InterDigital by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the Wireless communications provider’s stock worth $75,148,000 after purchasing an additional 28,245 shares during the last quarter. Finally, Smith Asset Management Group LP raised its stake in shares of InterDigital by 10.2% during the second quarter. Smith Asset Management Group LP now owns 7,111 shares of the Wireless communications provider’s stock worth $575,000 after purchasing an additional 660 shares during the last quarter. Institutional investors own 74.83% of the company’s stock.

In related news, EVP James J. Nolan sold 5,595 shares of the company’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $82.50, for a total transaction of $461,587.50. Following the transaction, the executive vice president now owns 47,863 shares of the company’s stock, valued at $3,948,697.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey K. Belk sold 555 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $85.10, for a total value of $47,230.50. Following the transaction, the director now directly owns 20,757 shares in the company, valued at approximately $1,766,420.70. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Several equities research analysts have recently commented on IDCC shares. Roth Capital started coverage on InterDigital in a research note on Tuesday, June 12th. They set a “buy” rating and a $104.00 price target for the company. BidaskClub cut InterDigital from a “hold” rating to a “sell” rating in a research note on Thursday, August 30th. National Securities started coverage on InterDigital in a research note on Monday, July 23rd. They set a “buy” rating and a $103.00 price target for the company. Zacks Investment Research cut InterDigital from a “hold” rating to a “strong sell” rating in a research note on Monday, August 6th. Finally, ValuEngine upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company. InterDigital currently has an average rating of “Hold” and an average target price of $94.40.

InterDigital stock opened at $81.40 on Friday. InterDigital, Inc. has a 12 month low of $68.18 and a 12 month high of $85.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 9.36 and a quick ratio of 9.36. The company has a market cap of $2.85 billion, a PE ratio of 13.43, a P/E/G ratio of 3.73 and a beta of 0.98.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 2nd. The Wireless communications provider reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. InterDigital had a return on equity of 19.85% and a net margin of 27.99%. The firm had revenue of $69.56 million for the quarter, compared to analyst estimates of $64.39 million. During the same quarter in the prior year, the company posted $1.46 earnings per share. InterDigital’s quarterly revenue was down 48.8% on a year-over-year basis. sell-side analysts anticipate that InterDigital, Inc. will post 1.76 EPS for the current fiscal year.

InterDigital Company Profile

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers 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 (NASDAQ:IDCC)

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