Strid Group LLC Trims Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Strid Group LLC reduced its stake in InterDigital, Inc. (NASDAQ:IDCC) by 12.9% in the 4th quarter, Holdings Channel reports. The firm owned 38,921 shares of the Wireless communications provider’s stock after selling 5,769 shares during the quarter. InterDigital accounts for approximately 0.9% of Strid Group LLC’s portfolio, making the stock its 16th biggest position. Strid Group LLC’s holdings in InterDigital were worth $4,225,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new stake in shares of InterDigital in the second quarter valued at about $39,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in InterDigital in the third quarter valued at approximately $68,000. Parkside Financial Bank & Trust grew its position in InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after acquiring an additional 114 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of InterDigital by 12.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after purchasing an additional 143 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of InterDigital during the second quarter worth $132,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America restated an “underperform” rating and set a $100.00 target price (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st.

InterDigital Stock Up 0.3 %

Shares of IDCC traded up $0.27 during trading on Thursday, reaching $96.28. The company’s stock had a trading volume of 93,413 shares, compared to its average volume of 492,679. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average of $104.01 and a two-hundred day moving average of $99.15. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 0.78 and a beta of 1.34. InterDigital, Inc. has a twelve month low of $66.82 and a twelve month high of $119.86.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. The company had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. On average, sell-side analysts predict that InterDigital, Inc. will post 7.13 EPS for the current fiscal year.

InterDigital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.66%. The ex-dividend date is Tuesday, April 9th. InterDigital’s payout ratio is currently 21.33%.

Insiders Place Their Bets

In other news, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the sale, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the transaction, the chief technology officer now directly owns 64,939 shares in the company, valued at $6,190,634.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the sale, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

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.