InterDigital, Inc. $IDCC Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lowered its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 13.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,433 shares of the Wireless communications provider’s stock after selling 5,395 shares during the quarter. Penserra Capital Management LLC owned about 0.13% of InterDigital worth $11,887,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new stake in InterDigital in the second quarter valued at approximately $28,000. Root Financial Partners LLC acquired a new position in shares of InterDigital in the 3rd quarter valued at $30,000. Huntington National Bank grew its stake in shares of InterDigital by 530.3% during the 2nd quarter. Huntington National Bank now owns 208 shares of the Wireless communications provider’s stock valued at $47,000 after buying an additional 175 shares during the period. Spire Wealth Management acquired a new stake in shares of InterDigital during the 3rd quarter worth $49,000. Finally, Country Trust Bank purchased a new position in shares of InterDigital in the 2nd quarter worth $56,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Down 3.1%

Shares of NASDAQ:IDCC opened at $313.87 on Thursday. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 21.18 and a beta of 1.58. The company has a 50 day moving average of $331.41 and a two-hundred day moving average of $322.07. InterDigital, Inc. has a 52-week low of $180.60 and a 52-week high of $412.60. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.02.

InterDigital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, January 14th. InterDigital’s dividend payout ratio is presently 18.89%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IDCC. Roth Mkm reissued a “buy” rating on shares of InterDigital in a research report on Tuesday, January 20th. UBS Group set a $425.00 target price on shares of InterDigital in a research report on Monday, December 1st. Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the company a “buy” rating in a report on Thursday, October 30th. Weiss Ratings downgraded shares of InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $416.67.

Insider Activity at InterDigital

In other news, insider Joshua D. Schmidt sold 466 shares of InterDigital stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $325.34, for a total transaction of $151,608.44. Following the sale, the insider directly owned 27,462 shares of the company’s stock, valued at approximately $8,934,487.08. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Rajesh Pankaj sold 1,000 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $326.75, for a total value of $326,750.00. Following the completion of the transaction, the chief technology officer owned 62,157 shares in the company, valued at approximately $20,309,799.75. This trade represents a 1.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 36,307 shares of company stock valued at $11,905,598. 2.80% of the stock is currently owned by insiders.

About InterDigital

InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.

The company’s principal services include patent licensing, technology evaluation and consulting.