InterDigital, Inc. (IDCC) Stake Raised by Teachers Advisors LLC

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Teachers Advisors LLC lifted its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1.5% during the third quarter, HoldingsChannel.com reports. The firm owned 102,659 shares of the Wireless communications provider’s stock after purchasing an additional 1,515 shares during the quarter. Teachers Advisors LLC’s holdings in InterDigital were worth $8,213,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Raymond James & Associates acquired a new position in InterDigital during the second quarter valued at $210,000. Oakbrook Investments LLC acquired a new position in InterDigital during the third quarter valued at $212,000. Tower Research Capital LLC TRC raised its position in InterDigital by 106.3% during the third quarter. Tower Research Capital LLC TRC now owns 3,303 shares of the Wireless communications provider’s stock valued at $264,000 after buying an additional 1,702 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in InterDigital 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 buying an additional 1,475 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in InterDigital during the third quarter valued at $445,000. 77.52% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on IDCC shares. TheStreet lowered InterDigital from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. ValuEngine raised InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. BidaskClub raised InterDigital from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 6th. B. Riley set a $90.00 target price on InterDigital and gave the stock a “buy” rating in a research report on Thursday, December 6th. Finally, Sidoti started coverage on InterDigital in a research report on Thursday, January 3rd. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $93.20.

In other InterDigital news, CEO William J. Merritt sold 15,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 156,549 shares of the company’s stock, valued at approximately $11,212,039.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

IDCC stock traded up $0.36 during mid-day trading on Monday, hitting $73.06. The stock had a trading volume of 266 shares, compared to its average volume of 192,491. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.06 and a quick ratio of 4.06. InterDigital, Inc. has a 1-year low of $62.34 and a 1-year high of $85.85. The firm has a market cap of $2.46 billion, a P/E ratio of 12.00, a PEG ratio of 2.94 and a beta of 1.23.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 23rd. Shareholders of record on Wednesday, January 9th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.92%. The ex-dividend date was Tuesday, January 8th. InterDigital’s payout ratio is currently 23.10%.

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InterDigital 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.

Further Reading: Can systematic risk be avoided?

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Institutional Ownership by Quarter for InterDigital (NASDAQ:IDCC)

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