Future Fund LLC Makes New $828,000 Investment in InterDigital, Inc. $IDCC

Future Fund LLC acquired a new position in InterDigital, Inc. (NASDAQ:IDCC) during the second quarter, HoldingsChannel reports. The institutional investor acquired 3,693 shares of the Wireless communications provider’s stock, valued at approximately $828,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDCC. Inspire Investing LLC grew its position in shares of InterDigital by 37.9% in the 1st quarter. Inspire Investing LLC now owns 15,227 shares of the Wireless communications provider’s stock worth $3,148,000 after buying an additional 4,188 shares during the period. Bessemer Group Inc. boosted its stake in InterDigital by 6.1% during the second quarter. Bessemer Group Inc. now owns 121,627 shares of the Wireless communications provider’s stock worth $27,273,000 after acquiring an additional 7,005 shares in the last quarter. Bank of Montreal Can grew its holdings in InterDigital by 0.8% in the second quarter. Bank of Montreal Can now owns 109,222 shares of the Wireless communications provider’s stock worth $24,491,000 after purchasing an additional 911 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in InterDigital by 71.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,258 shares of the Wireless communications provider’s stock worth $975,000 after purchasing an additional 1,779 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in InterDigital by 3.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 43,660 shares of the Wireless communications provider’s stock valued at $9,790,000 after buying an additional 1,502 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on IDCC shares. Weiss Ratings raised InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a report on Tuesday, October 14th. Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the stock a “buy” rating in a research note on Thursday, October 30th. Roth Capital increased their price objective on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, InterDigital currently has a consensus rating of “Buy” and an average price target of $412.50.

InterDigital Trading Down 2.8%

Shares of NASDAQ:IDCC opened at $370.07 on Friday. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.88 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. The stock’s 50-day simple moving average is $345.69 and its two-hundred day simple moving average is $270.92. InterDigital, Inc. has a 52-week low of $169.58 and a 52-week high of $412.60.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. InterDigital’s payout ratio is 18.89%.

Insider Buying and Selling

In other news, insider Joshua D. Schmidt sold 466 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $395.63, for a total value of $184,363.58. Following the completion of the sale, the insider directly owned 27,928 shares in the company, valued at $11,049,154.64. This represents a 1.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Rajesh Pankaj sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $375.31, for a total value of $375,310.00. Following the completion of the sale, the chief technology officer owned 64,157 shares of the company’s stock, valued at approximately $24,078,763.67. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,932 shares of company stock valued at $1,575,838. 2.80% of the stock is owned by corporate insiders.

InterDigital Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.