InterDigital, Inc. (NASDAQ:IDCC) Stake Cut by Royce & Associates LP

Royce & Associates LP decreased its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 7.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,604 shares of the Wireless communications provider’s stock after selling 1,004 shares during the period. Royce & Associates LP owned about 0.05% of InterDigital worth $1,785,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in InterDigital by 51,337.0% during the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after acquiring an additional 741,820 shares during the period. Reinhart Partners LLC. bought a new position in shares of InterDigital during the third quarter valued at approximately $27,762,000. Emerald Advisers LLC lifted its holdings in shares of InterDigital by 127,997.9% in the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after purchasing an additional 120,318 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of InterDigital by 283,160.0% in the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock worth $16,047,000 after purchasing an additional 113,264 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its position in InterDigital by 473.5% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock valued at $11,244,000 after purchasing an additional 79,648 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at InterDigital

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the transaction, the director now directly owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the completion of the sale, the insider now directly owns 24,138 shares in the company, valued at $4,397,702.22. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,340 shares of company stock worth $472,253 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.

InterDigital Stock Down 0.2 %

Shares of InterDigital stock opened at $182.90 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $191.57. The business’s fifty day moving average price is $153.82 and its two-hundred day moving average price is $133.32. The company has a market capitalization of $4.63 billion, a P/E ratio of 19.54, a PEG ratio of 0.77 and a beta of 1.38.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 0.98%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is presently 19.23%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IDCC shares. Roth Mkm raised their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.