Fort buys $16,915,497 stake in InterDigital (IDCC)

InterDigital (IDCC) : Fort scooped up 68,648 additional shares in InterDigital during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 248,977 shares of InterDigital which is valued at $16,915,497.InterDigital makes up approximately 6.55% of Fort’s portfolio.

Other Hedge Funds, Including , Citadel Advisors reduced its stake in IDCC by selling 101,263 shares or 85.17% in the most recent quarter. The Hedge Fund company now holds 17,632 shares of IDCC which is valued at $1,197,918. Bessemer Group Inc added IDCC to its portfolio by purchasing 125 company shares during the most recent quarter which is valued at $8,493.Ameritas Investment Partners boosted its stake in IDCC in the latest quarter, The investment management firm added 167 additional shares and now holds a total of 8,690 shares of InterDigital which is valued at $590,399. InterDigital makes up approx 0.04% of Ameritas Investment Partners’s portfolio. Sheaff Brock Investment Advisors sold out all of its stake in IDCC during the most recent quarter. The investment firm sold 5,700 shares of IDCC which is valued $374,034. Glenmede Trust Co Na added IDCC to its portfolio by purchasing 36 company shares during the most recent quarter which is valued at $2,362.

InterDigital opened for trading at $69.93 and hit $70.434 on the upside on Monday, eventually ending the session at $70.11, with a gain of 0.42% or 0.29 points. The heightened volatility saw the trading volume jump to 3,20,952 shares. Company has a market cap of $2,401 M.

On the company’s financial health, InterDigital reported $1.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.76 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.38. The company had revenue of $75.92 million for the quarter, compared to analysts expectations of $76.54 million. The company’s revenue was down -36.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.89 EPS.

InterDigital Inc. (InterDigital) designs and develops advanced technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks including second generation (2G) third generation (3G) fourth generation (4G) and IEEE 802 related products and networks. The Company is engaged in developing cellular technologies including those related to code division multiple access (CDMA) and time division multiple access (TDMA) and orthogonal frequency division multiplexing/ orthogonal frequency division multiple access (OFDM/OFDMA) and multiple input multiple output (MIMO). The Company’s wireless background includes engineering and corporate development activities that focus on solutions that apply to other wireless market segments.

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