Los Angeles Capital Management LLC Sells 7,750 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Los Angeles Capital Management LLC decreased its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 30.0% in the third quarter, HoldingsChannel reports. The firm owned 18,104 shares of the Wireless communications provider’s stock after selling 7,750 shares during the quarter. Los Angeles Capital Management LLC’s holdings in InterDigital were worth $2,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IDCC. Simplicity Wealth LLC lifted its stake in 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 acquiring an additional 69 shares during the period. Miller Howard Investments Inc. NY boosted its stake in shares of InterDigital by 2.0% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock valued at $536,000 after purchasing an additional 90 shares in the last quarter. Blue Trust Inc. raised its stake in InterDigital by 9.4% in the third quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock worth $166,000 after buying an additional 101 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 109 shares during the period. Finally, GAMMA Investing LLC boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IDCC. Roth Mkm raised their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

InterDigital Stock Performance

InterDigital stock opened at $189.05 on Wednesday. The stock’s 50 day moving average is $148.80 and its 200 day moving average is $130.44. The company has a market capitalization of $4.79 billion, a P/E ratio of 20.20, a PEG ratio of 0.77 and a beta of 1.38. InterDigital, Inc. has a twelve month low of $88.08 and a twelve month high of $189.51. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.95%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s dividend payout ratio is 19.23%.

Insiders Place Their Bets

In related news, Director Derek K. Aberle sold 2,005 shares of the firm’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 sale, the director now owns 7,639 shares of the company’s stock, valued at $1,026,681.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction that occurred 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 completion of the sale, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Derek K. Aberle sold 2,005 shares of the 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 transaction, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,205 shares of company stock valued at $716,218. Insiders own 2.30% of the company’s stock.

InterDigital 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.