Ulysses Management Lowers stake in InterDigital (IDCC)

InterDigital (IDCC) : Ulysses Management reduced its stake in InterDigital by 7.22% during the most recent quarter end. The investment management company now holds a total of 459,250 shares of InterDigital which is valued at $31,201,445 after selling 35,750 shares in InterDigital , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.InterDigital makes up approximately 9.27% of Ulysses Management’s portfolio.

Other Hedge Funds, Including , Putnam Investments reduced its stake in IDCC by selling 6,296 shares or 8.3% in the most recent quarter. The Hedge Fund company now holds 69,517 shares of IDCC which is valued at $4,722,985. InterDigital makes up approx 0.01% of Putnam Investments’s portfolio.Riverhead Capital Management reduced its stake in IDCC by selling 2,381 shares or 34.44% in the most recent quarter. The Hedge Fund company now holds 4,532 shares of IDCC which is valued at $307,904. InterDigital makes up approx 0.01% of Riverhead Capital Management’s portfolio.Fmr boosted its stake in IDCC in the latest quarter, The investment management firm added 738,356 additional shares and now holds a total of 783,656 shares of InterDigital which is valued at $53,241,589. InterDigital makes up approx 0.01% of Fmr’s portfolio.State Treasurer State Of Michigan reduced its stake in IDCC by selling 100 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 13,900 shares of IDCC which is valued at $860,271. InterDigital makes up approx 0.01% of State Treasurer State Of Michigan’s portfolio.

InterDigital opened for trading at $71.47 and hit $71.82 on the upside on Thursday, eventually ending the session at $71.53, with a gain of 0.17% or 0.12 points. The heightened volatility saw the trading volume jump to 4,30,094 shares. Company has a market cap of $2,450 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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