Strid Group LLC Cuts Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Strid Group LLC decreased its position in InterDigital, Inc. (NASDAQ:IDCC) by 1.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 29,116 shares of the Wireless communications provider’s stock after selling 485 shares during the quarter. InterDigital comprises 0.6% of Strid Group LLC’s holdings, making the stock its 16th largest position. Strid Group LLC’s holdings in InterDigital were worth $4,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of IDCC. Cardinal Capital Management lifted its stake in shares of InterDigital by 10.2% in the 3rd quarter. Cardinal Capital Management now owns 13,888 shares of the Wireless communications provider’s stock valued at $1,967,000 after acquiring an additional 1,291 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of InterDigital by 16.1% in the third quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider’s stock worth $3,445,000 after purchasing an additional 3,381 shares during the last quarter. Simplicity Wealth LLC increased its stake in shares of InterDigital by 1.5% in the third quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock worth $665,000 after buying an additional 69 shares during the period. Reinhart Partners LLC. bought a new stake in InterDigital during the 3rd quarter valued at $27,762,000. Finally, CWM LLC grew its holdings in InterDigital by 34.0% in the 3rd quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 216 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IDCC. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday. Roth Mkm lifted their price target 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.

Insiders Place Their Bets

In other news, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Derek K. Aberle sold 2,005 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the transaction, the director now directly owns 7,639 shares in the company, valued at $1,026,681.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John A. Kritzmacher sold 2,500 shares of the company’s 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 of the company’s stock, valued at approximately $2,813,102.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,205 shares of company stock valued at $716,218. 2.30% of the stock is owned by insiders.

InterDigital Stock Down 0.7 %

Shares of NASDAQ:IDCC opened at $155.69 on Friday. InterDigital, Inc. has a 12-month low of $74.65 and a 12-month high of $157.50. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 0.94 and a beta of 1.39. The stock has a fifty day simple moving average of $139.52 and a two-hundred day simple moving average of $121.87. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03.

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

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a $0.45 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. InterDigital’s payout ratio is 26.47%.

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.