InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Creative Planning

Creative Planning decreased its position in InterDigital, Inc. (NASDAQ:IDCC) by 40.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,105 shares of the Wireless communications provider’s stock after selling 5,532 shares during the quarter. Creative Planning’s holdings in InterDigital were worth $1,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in InterDigital by 13.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,464 shares of the Wireless communications provider’s stock valued at $7,821,000 after purchasing an additional 8,533 shares during the period. Hussman Strategic Advisors Inc. raised its holdings in InterDigital by 53.8% in the first quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the Wireless communications provider’s stock valued at $4,471,000 after buying an additional 14,700 shares during the period. Palisade Asset Management LLC purchased a new stake in InterDigital during the 1st quarter worth $64,000. GSA Capital Partners LLP raised its holdings in shares of InterDigital by 25.0% during the 1st quarter. GSA Capital Partners LLP now owns 12,109 shares of the Wireless communications provider’s stock valued at $1,289,000 after buying an additional 2,420 shares during the period. Finally, Texas Permanent School Fund Corp lifted its position in shares of InterDigital by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 22,495 shares of the Wireless communications provider’s stock worth $2,395,000 after purchasing an additional 291 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Roth Mkm boosted their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $150.44 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.97 and a beta of 1.39. The stock’s 50 day moving average price is $141.90 and its 200 day moving average price is $125.41. InterDigital, Inc. has a 12 month low of $74.90 and a 12 month high of $164.32.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $3.77. The company had revenue of $223.49 million during the quarter, compared to the consensus estimate of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. Equities research analysts anticipate that InterDigital, Inc. will post 9.06 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.20%. InterDigital’s payout ratio is 18.11%.

Insider Activity

In related news, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the transaction, the director now owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director John A. Kritzmacher sold 2,500 shares of the firm’s 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 transaction, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction that occurred on Monday, August 19th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,205 shares of company stock valued at $716,218 over the last three months. Insiders own 2.30% of the company’s stock.

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.