Inspire Investing LLC Lowers Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Inspire Investing LLC trimmed its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 79.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,898 shares of the Wireless communications provider’s stock after selling 10,986 shares during the period. Inspire Investing LLC’s holdings in InterDigital were worth $410,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Simplicity Wealth LLC increased its stake in InterDigital by 1.5% during 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 last quarter. Miller Howard Investments Inc. NY increased its position in 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 worth $536,000 after purchasing an additional 90 shares in the last quarter. Nisa Investment Advisors LLC raised 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 valued at $46,000 after buying an additional 109 shares during the period. GAMMA Investing LLC lifted its position in InterDigital by 50.8% during the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 124 shares in the last quarter. Finally, Juncture Wealth Strategies LLC grew its stake in InterDigital by 1.4% during the second quarter. Juncture Wealth Strategies LLC now owns 9,943 shares of the Wireless communications provider’s stock worth $1,159,000 after buying an additional 134 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction 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 directly owns 7,639 shares in the company, valued at $1,026,681.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction 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 completion of the transaction, the director now directly owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,205 shares of company stock worth $716,218. Insiders own 2.30% of the company’s stock.

InterDigital Stock Performance

InterDigital stock opened at $154.17 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 firm’s fifty day moving average price is $139.82 and its 200 day moving average price is $122.26. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 0.94 and a beta of 1.39. InterDigital, Inc. has a 12-month low of $74.65 and a 12-month high of $157.50.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. The business had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. On average, research analysts forecast that InterDigital, Inc. will post 9.04 EPS for the current fiscal year.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio (DPR) is presently 26.47%.

Wall Street Analysts Forecast Growth

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

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.