Hays Advisory Lowers stake in InterDigital (IDCC)

InterDigital (IDCC) : Hays Advisory reduced its stake in InterDigital by 9.61% during the most recent quarter end. The investment management company now holds a total of 127,207 shares of InterDigital which is valued at $9,990,838 after selling 13,519 shares in InterDigital , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.InterDigital makes up approximately 1.69% of Hays Advisory’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp added IDCC to its portfolio by purchasing 6,518 company shares during the most recent quarter which is valued at $511,924. InterDigital makes up approx 0.03% of Cutler Group Lp’s portfolio. Simplex Trading added IDCC to its portfolio by purchasing 6,464 company shares during the most recent quarter which is valued at $506,454. InterDigital makes up approx 0.07% of Simplex Trading’s portfolio.Independent Portfolio Consultants reduced its stake in IDCC by selling 370 shares or 20.85% in the most recent quarter. The Hedge Fund company now holds 1,405 shares of IDCC which is valued at $110,054. InterDigital makes up approx 0.03% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in IDCC by selling 192,155 shares or 70.71% in the most recent quarter. The Hedge Fund company now holds 79,601 shares of IDCC which is valued at $6,235,146. InterDigital makes up approx 0.03% of Bnp Paribas Arbitrage Sa’s portfolio.

InterDigital closed down -0.73 points or -0.93% at $77.81 with 3,24,488 shares getting traded on Tuesday. Post opening the session at $78.78, the shares hit an intraday low of $76.7 and an intraday high of $78.78 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

Many Wall Street Analysts have commented on InterDigital. InterDigital was Downgraded by Dougherty & Company to ” Neutral” on Oct 5, 2016. Company shares were Reiterated by Barclays on Sep 9, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 75 from a previous price target of $65 .

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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