Victory Capital Management Inc. Cuts Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Victory Capital Management Inc. trimmed its position in InterDigital, Inc. (NASDAQ:IDCC) by 44.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,446 shares of the Wireless communications provider’s stock after selling 12,311 shares during the period. Victory Capital Management Inc. owned about 0.06% of InterDigital worth $2,188,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Versor Investments LP acquired a new position in InterDigital during the third quarter worth about $1,091,000. Transcendent Capital Group LLC acquired a new stake in InterDigital during the third quarter worth about $25,000. Covestor Ltd boosted its holdings in InterDigital by 701.7% in the 3rd quarter. Covestor Ltd now owns 922 shares of the Wireless communications provider’s stock valued at $131,000 after purchasing an additional 807 shares during the last quarter. Assetmark Inc. increased its holdings in shares of InterDigital by 5.9% during the 3rd quarter. Assetmark Inc. now owns 18,977 shares of the Wireless communications provider’s stock worth $2,688,000 after buying an additional 1,060 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of InterDigital during the 3rd quarter valued at approximately $1,007,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insider Buying and Selling

In other news, Director John A. Kritzmacher sold 2,500 shares of the company’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 transaction, the director now directly owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joshua D. Schmidt sold 140 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the sale, the insider now directly owns 24,138 shares in the company, valued at $4,397,702.22. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,340 shares of company stock worth $472,253 over the last 90 days. 2.30% of the stock is owned by insiders.

InterDigital Trading Up 3.7 %

IDCC opened at $190.12 on Monday. The business has a fifty day moving average price of $156.92 and a 200 day moving average price of $135.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $191.57. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 0.78 and a beta of 1.38.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital’s dividend payout ratio is presently 19.23%.

Analyst Ratings Changes

IDCC has been the subject of several research analyst reports. Roth Mkm increased their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

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.