Pettyjohn Wood & White Inc. Purchases Shares of 3,100 InterDigital, Inc. (NASDAQ:IDCC)

Pettyjohn Wood & White Inc. bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,100 shares of the Wireless communications provider’s stock, valued at approximately $222,000.

Other large investors have also recently modified their holdings of the company. Hancock Whitney Corp raised its position in InterDigital by 1.6% in the 3rd quarter. Hancock Whitney Corp now owns 10,038 shares of the Wireless communications provider’s stock valued at $681,000 after buying an additional 154 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in InterDigital by 28.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 819 shares of the Wireless communications provider’s stock worth $55,000 after purchasing an additional 179 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in InterDigital by 2.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 7,092 shares of the Wireless communications provider’s stock worth $481,000 after purchasing an additional 180 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in InterDigital by 5.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,090 shares of the Wireless communications provider’s stock worth $292,000 after purchasing an additional 196 shares in the last quarter. Finally, CWM LLC purchased a new stake in shares of InterDigital in the 4th quarter valued at about $27,000. 80.95% of the stock is currently owned by institutional investors.

NASDAQ:IDCC traded up $0.63 during midday trading on Tuesday, hitting $60.70. The stock had a trading volume of 1,150 shares, compared to its average volume of 146,499. InterDigital, Inc. has a one year low of $59.38 and a one year high of $85.75. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 1.78 and a beta of 1.05. The stock has a 50-day moving average of $64.18 and a 200 day moving average of $67.64. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.56.

InterDigital (NASDAQ:IDCC – Get Rating) last issued its quarterly earnings data on Thursday, February 17th. The Wireless communications provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.30 by $0.40. The firm had revenue of $111.82 million during the quarter, compared to analyst estimates of $101.54 million. InterDigital had a return on equity of 8.96% and a net margin of 13.00%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.04) EPS. On average, sell-side analysts anticipate that InterDigital, Inc. will post 2.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 27th. Stockholders of record on Wednesday, April 13th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, April 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.31%. InterDigital’s dividend payout ratio (DPR) is 79.55%.

A number of equities research analysts have recently weighed in on IDCC shares. StockNews.com started coverage on InterDigital in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. TheStreet upgraded InterDigital from a “c+” rating to a “b” rating in a research note on Friday, February 18th. Finally, Zacks Investment Research cut InterDigital from a “hold” rating to a “sell” rating and set a $68.00 price objective for the company. in a research note on Wednesday, February 23rd.

InterDigital Profile (Get Rating)

InterDigital, Inc, together with its subsidiaries, designs and develops technologies that enable and enhance wireless communications in the United States, China, South Korea, Japan, Taiwan, and Europe. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.

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