Touchstone Capital Inc. Sells 7,898 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Touchstone Capital Inc. cut its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 21.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 29,216 shares of the Wireless communications provider’s stock after selling 7,898 shares during the quarter. InterDigital accounts for approximately 6.3% of Touchstone Capital Inc.’s holdings, making the stock its 5th largest position. Touchstone Capital Inc.’s holdings in InterDigital were worth $4,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IDCC. 1620 Investment Advisors Inc. acquired a new position in shares of InterDigital in the 2nd quarter valued at approximately $29,000. Riverview Trust Co bought a new position in InterDigital in the first quarter valued at approximately $31,000. GAMMA Investing LLC increased its stake in InterDigital by 50.8% in the second 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. Nisa Investment Advisors LLC increased its stake in InterDigital by 38.0% in the second 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. Finally, Palisade Asset Management LLC bought a new position in InterDigital in the first quarter valued at approximately $64,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Price Performance

InterDigital stock traded up $2.38 during mid-day trading on Wednesday, reaching $156.13. The company had a trading volume of 50,189 shares, compared to its average volume of 460,229. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $156.99. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.94 billion, a P/E ratio of 22.65, a P/E/G ratio of 0.94 and a beta of 1.39. The business has a fifty day simple moving average of $138.79 and a 200 day simple moving average of $121.38.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. The company had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. On average, equities research analysts predict that InterDigital, Inc. will post 9.04 earnings per share for the current year.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be issued a $0.45 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 1.15%. InterDigital’s payout ratio is presently 26.47%.

Wall Street Analysts Forecast Growth

IDCC has been the topic of a number of recent analyst reports. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Tuesday. Roth Mkm raised their target price on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now directly owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,205 shares of company stock worth $716,218 over the last quarter. Company insiders own 2.30% of the company’s stock.

About InterDigital

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.