Assenagon Asset Management S.A. Cuts Stake in InterDigital, Inc. (NASDAQ:IDCC)

Assenagon Asset Management S.A. trimmed its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 26.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,940 shares of the Wireless communications provider’s stock after selling 4,280 shares during the quarter. Assenagon Asset Management S.A.’s holdings in InterDigital were worth $2,313,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its position in shares of InterDigital by 0.5% in the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock valued at $1,965,000 after purchasing an additional 68 shares during the last quarter. Simplicity Wealth LLC grew its stake in shares of 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 purchasing an additional 69 shares in the last quarter. Blue Trust Inc. increased its holdings in InterDigital by 9.4% in the third quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock valued at $166,000 after buying an additional 101 shares during the last quarter. Larson Financial Group LLC lifted its stake in InterDigital by 8.9% during the third quarter. Larson Financial Group LLC now owns 1,418 shares of the Wireless communications provider’s stock worth $201,000 after purchasing an additional 116 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in InterDigital by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 14,093 shares of the Wireless communications provider’s stock valued at $1,643,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insider Transactions at InterDigital

In other news, insider Joshua D. Schmidt sold 140 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the sale, the insider now owns 24,138 shares of the company’s stock, valued at $4,397,702.22. The trade was a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $204.13, for a total value of $142,891.00. Following the completion of the sale, the chief technology officer now owns 52,997 shares in the company, valued at approximately $10,818,277.61. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,622 shares of company stock worth $2,433,251 over the last ninety days. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

InterDigital Stock Up 0.4 %

IDCC opened at $172.39 on Thursday. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $207.08. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $189.54 and a two-hundred day moving average price of $157.86. The company has a market cap of $4.37 billion, a PE ratio of 18.42, a P/E/G ratio of 1.96 and a beta of 1.44.

InterDigital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, January 8th. InterDigital’s payout ratio is 19.23%.

InterDigital 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.