Hays Advisory Lowers stake in InterDigital (IDCC)

InterDigital (IDCC) : Hays Advisory reduced its stake in InterDigital by 14.1% during the most recent quarter end. The investment management company now holds a total of 140,726 shares of InterDigital which is valued at $8,115,668 after selling 23,100 shares in InterDigital , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.InterDigital makes up approximately 1.23% of Hays Advisory’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp sold out all of its stake in IDCC during the most recent quarter. The investment firm sold 2,500 shares of IDCC which is valued $141,650.

InterDigital opened for trading at $57.03 and hit $57.83 on the upside on Wednesday, eventually ending the session at $57.67, with a gain of 1.35% or 0.77 points. The heightened volatility saw the trading volume jump to 1,19,964 shares. Company has a market cap of $1,994 M.

On the company’s financial health, InterDigital reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.74. The company had revenue of $107.80 million for the quarter, compared to analysts expectations of $101.40 million. The company’s revenue was down -2.4 % 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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