Capital Management Corp VA Sells 10,774 Shares of InterDigital, Inc. $IDCC

Capital Management Corp VA trimmed its stake in InterDigital, Inc. (NASDAQ:IDCC) by 7.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,195 shares of the Wireless communications provider’s stock after selling 10,774 shares during the quarter. InterDigital comprises 7.0% of Capital Management Corp VA’s portfolio, making the stock its largest position. Capital Management Corp VA’s holdings in InterDigital were worth $44,257,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of InterDigital in the 2nd quarter valued at $28,000. Root Financial Partners LLC purchased a new position in shares of InterDigital in the 3rd quarter worth $30,000. Huntington National Bank boosted its holdings in InterDigital by 530.3% in the second quarter. Huntington National Bank now owns 208 shares of the Wireless communications provider’s stock valued at $47,000 after acquiring an additional 175 shares during the last quarter. Spire Wealth Management purchased a new stake in InterDigital during the third quarter valued at about $49,000. Finally, Country Trust Bank acquired a new stake in InterDigital during the second quarter worth about $56,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Roth Mkm reaffirmed a “buy” rating on shares of InterDigital in a research note on Tuesday, January 20th. Zacks Research lowered shares of InterDigital from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Weiss Ratings downgraded shares of InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, December 29th. UBS Group set a $425.00 price objective on shares of InterDigital in a research report on Monday, December 1st. Finally, Jefferies Financial Group set a $475.00 target price on shares of InterDigital and gave the company a “buy” rating in a report on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, InterDigital currently has an average rating of “Moderate Buy” and an average price target of $416.67.

Insider Activity

In other InterDigital news, Director John A. Kritzmacher sold 1,250 shares of the stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $331.00, for a total transaction of $413,750.00. Following the transaction, the director directly owned 15,815 shares in the company, valued at $5,234,765. This represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lawrence Liren Chen sold 5,958 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $327.62, for a total transaction of $1,951,959.96. Following the transaction, the chief executive officer directly owned 153,077 shares of the company’s stock, valued at approximately $50,151,086.74. This represents a 3.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 37,307 shares of company stock worth $12,280,908. 2.80% of the stock is currently owned by insiders.

InterDigital Price Performance

IDCC opened at $326.44 on Friday. The company has a fifty day simple moving average of $333.33 and a 200 day simple moving average of $320.09. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.02. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 22.03 and a beta of 1.57. InterDigital, Inc. has a twelve month low of $177.00 and a twelve month high of $412.60.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.79 by $0.14. InterDigital had a return on equity of 51.89% and a net margin of 53.50%.The business had revenue of $164.68 million for the quarter, compared to analysts’ expectations of $153.43 million. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was up 28.0% compared to the same quarter last year. Equities research analysts expect that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, January 14th. InterDigital’s dividend payout ratio is presently 18.89%.

InterDigital Company Profile

InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.

The company’s principal services include patent licensing, technology evaluation and consulting.