Exchange Traded Concepts LLC Cuts Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Exchange Traded Concepts LLC reduced its position in InterDigital, Inc. (NASDAQ:IDCC) by 96.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 225 shares of the Wireless communications provider’s stock after selling 5,893 shares during the period. Exchange Traded Concepts LLC’s holdings in InterDigital were worth $32,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IDCC. 1620 Investment Advisors Inc. bought a new stake in shares of InterDigital in the 2nd quarter worth $29,000. Riverview Trust Co bought a new stake in InterDigital in the 1st quarter worth about $31,000. GAMMA Investing LLC raised its position in 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 buying an additional 124 shares during the last quarter. Nisa Investment Advisors LLC raised its position in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 109 shares during the last quarter. Finally, Palisade Asset Management LLC bought a new position in InterDigital during the 1st quarter valued at about $64,000. 99.83% of the stock is owned by institutional investors.

InterDigital Trading Down 1.7 %

InterDigital stock opened at $150.48 on Thursday. InterDigital, Inc. has a 52-week low of $74.65 and a 52-week high of $157.50. The company has a market cap of $3.80 billion, a P/E ratio of 22.13, a P/E/G ratio of 0.94 and a beta of 1.39. 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 business has a 50-day simple moving average of $140.71 and a two-hundred day simple moving average of $123.64.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data 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. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The company had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. Analysts predict that InterDigital, Inc. will post 9.04 EPS for the current year.

InterDigital Increases Dividend

The firm also recently disclosed 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. This is an increase 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 dividend yield of 1.20%. InterDigital’s payout ratio is presently 26.47%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on IDCC shares. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Roth Mkm lifted 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.

Insider Transactions at InterDigital

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was 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 approximately $2,813,102.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of InterDigital 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 transaction, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of the company’s 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 completion of the transaction, the director now owns 7,639 shares of the company’s stock, 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 5,205 shares of company stock worth $716,218 in the last three months. Corporate insiders own 2.30% of the company’s stock.

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.