InterDigital (IDCC) : Parametrica Management Ltd added new position in InterDigital during the most recent quarter end. The investment management firm now holds 3,452 shares of InterDigital which is valued at $266,943 , the company said in a statement filed on Oct 13, 2016 with the SEC.InterDigital makes up approximately 0.76% of Parametrica Management Ltd’s portfolio.
Other Hedge Funds, Including , Legal General Group Plc reduced its stake in IDCC by selling 837 shares or 9.04% in the most recent quarter. The Hedge Fund company now holds 8,418 shares of IDCC which is valued at $655,005. 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.
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 Companys wireless background includes engineering and corporate development activities that focus on solutions that apply to other wireless market segments.