Dimensional Fund Advisors LP Sells 12,291 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Dimensional Fund Advisors LP cut its stake in InterDigital, Inc. (NASDAQ:IDCC) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 838,163 shares of the Wireless communications provider’s stock after selling 12,291 shares during the period. Dimensional Fund Advisors LP owned about 3.32% of InterDigital worth $97,696,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in InterDigital by 16.1% in the 4th quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after acquiring an additional 10,926 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of InterDigital during the fourth quarter valued at approximately $13,309,000. Norges Bank purchased a new stake in shares of InterDigital in the fourth quarter valued at approximately $18,987,000. Duality Advisers LP grew its stake in InterDigital by 1,380.5% in the first quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock worth $3,441,000 after purchasing an additional 30,137 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in InterDigital by 35.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,503 shares of the Wireless communications provider’s stock worth $3,780,000 after purchasing an additional 9,263 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

InterDigital Stock Down 0.1 %

InterDigital stock opened at $138.85 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. The firm has a market cap of $3.50 billion, a P/E ratio of 20.42, a P/E/G ratio of 0.84 and a beta of 1.39. The business has a fifty day moving average of $132.85 and a two-hundred day moving average of $117.05. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $141.00.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The firm had revenue of $223.49 million during the quarter, compared to analysts’ expectations of $95.63 million. On average, analysts forecast that InterDigital, Inc. will post 9.05 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a $0.45 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is currently 26.47%.

Insider Transactions at InterDigital

In related news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the sale, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the sale, the director now owns 7,639 shares in the company, valued at $1,026,681.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the transaction, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on IDCC shares. Roth Mkm upped their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, August 22nd.

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.