Westside Investment Management Inc. Has $897,000 Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Westside Investment Management Inc. cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,628 shares of the Wireless communications provider’s stock after selling 175 shares during the period. Westside Investment Management Inc.’s holdings in InterDigital were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Reinhart Partners LLC. bought a new stake in shares of InterDigital during the third quarter worth approximately $27,762,000. International Assets Investment Management LLC raised its position in shares of InterDigital by 283,160.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock valued at $16,047,000 after acquiring an additional 113,264 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of InterDigital by 164.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 117,826 shares of the Wireless communications provider’s stock valued at $13,734,000 after purchasing an additional 73,227 shares during the period. Emerald Advisers LLC lifted its stake in shares of InterDigital by 50.3% in the 3rd quarter. Emerald Advisers LLC now owns 180,987 shares of the Wireless communications provider’s stock valued at $25,633,000 after purchasing an additional 60,575 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of InterDigital by 28.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock worth $30,420,000 after purchasing an additional 48,137 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

InterDigital Stock Up 1.0 %

Shares of NASDAQ:IDCC opened at $173.50 on Wednesday. The company has a 50 day moving average price of $189.78 and a two-hundred day moving average price of $157.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market capitalization of $4.40 billion, a PE ratio of 18.52, a PEG ratio of 1.96 and a beta of 1.44. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $207.08.

InterDigital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, January 8th. InterDigital’s dividend payout ratio is currently 19.23%.

Insider Buying and Selling

In other news, CEO Lawrence Liren Chen sold 5,891 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $189.12, for a total value of $1,114,105.92. Following the completion of the transaction, the chief executive officer now owns 158,652 shares in the company, valued at $30,004,266.24. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the sale, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,622 shares of company stock valued at $2,433,251. 2.30% of the stock is owned by company insiders.

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.