Clark Estates Inc. NY Lowers Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Clark Estates Inc. NY reduced its position in InterDigital, Inc. (NASDAQ:IDCC) by 7.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,750 shares of the Wireless communications provider’s stock after selling 2,250 shares during the quarter. InterDigital accounts for about 0.7% of Clark Estates Inc. NY’s holdings, making the stock its 25th largest holding. Clark Estates Inc. NY’s holdings in InterDigital were worth $3,930,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of IDCC. Transcendent Capital Group LLC bought a new stake in InterDigital in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new position in shares of InterDigital during the third quarter worth approximately $26,000. 1620 Investment Advisors Inc. purchased a new position in shares of InterDigital during the second quarter worth approximately $29,000. GAMMA Investing LLC lifted its holdings in shares of InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after acquiring an additional 124 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 109 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insider Transactions at InterDigital

In other news, insider Joshua D. Schmidt sold 140 shares of the company’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 transaction, the insider now directly owns 24,138 shares of the company’s stock, valued at $4,397,702.22. This represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction 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. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,340 shares of company stock valued at $472,253. Insiders own 2.30% of the company’s stock.

InterDigital Price Performance

IDCC opened at $195.98 on Wednesday. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $196.45. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38. The stock has a fifty day simple moving average of $158.10 and a two-hundred day simple moving average of $135.63. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.45 per share. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 0.92%. InterDigital’s payout ratio is presently 19.23%.

Analysts Set New Price Targets

IDCC has been the topic of several recent research reports. Roth Mkm raised their price target on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

InterDigital Company 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.