InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 21.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,205 shares of the Wireless communications provider’s stock after selling 5,982 shares during the period. Massachusetts Financial Services Co. MA’s holdings in InterDigital were worth $3,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IDCC. Transcendent Capital Group LLC purchased a new stake in InterDigital during the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new stake in InterDigital during the 3rd quarter valued at approximately $26,000. 1620 Investment Advisors Inc. purchased a new stake in InterDigital during the 2nd quarter valued at approximately $29,000. GAMMA Investing LLC raised its stake in InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after acquiring an additional 124 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 109 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

InterDigital Stock Performance

IDCC opened at $195.98 on Wednesday. The stock has a market cap of $4.97 billion, a P/E ratio of 20.94, a P/E/G ratio of 0.80 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The stock’s 50 day simple moving average is $158.10 and its 200 day simple moving average is $135.63. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $196.45.

InterDigital Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is currently 19.23%.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. This represents a 1.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now owns 20,279 shares in the company, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,340 shares of company stock worth $472,253 in the last quarter. Company insiders own 2.30% of the company’s stock.

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.