InterDigital, Inc. $IDCC Position Lowered by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its stake in InterDigital, Inc. (NASDAQ:IDCC) by 12.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 22,269 shares of the Wireless communications provider’s stock after selling 3,051 shares during the quarter. Ritholtz Wealth Management’s holdings in InterDigital were worth $7,261,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in InterDigital by 1.9% during the third quarter. GAMMA Investing LLC now owns 2,081 shares of the Wireless communications provider’s stock worth $679,000 after buying an additional 38 shares during the last quarter. IFP Advisors Inc grew its position in shares of InterDigital by 3.7% during the 2nd quarter. IFP Advisors Inc now owns 1,292 shares of the Wireless communications provider’s stock valued at $366,000 after acquiring an additional 46 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of InterDigital by 4.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 1,243 shares of the Wireless communications provider’s stock valued at $405,000 after acquiring an additional 51 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of InterDigital by 1.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,436 shares of the Wireless communications provider’s stock valued at $1,944,000 after acquiring an additional 62 shares during the period. Finally, Integrated Wealth Concepts LLC increased its stake in shares of InterDigital by 5.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 1,447 shares of the Wireless communications provider’s stock worth $410,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IDCC shares. Weiss Ratings cut shares of InterDigital from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, October 30th. Zacks Research downgraded InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $425.00.

InterDigital Stock Down 1.8%

IDCC stock opened at $295.41 on Friday. The stock has a fifty day moving average of $325.00 and a 200-day moving average of $317.20. InterDigital, Inc. has a fifty-two week low of $249.14 and a fifty-two week high of $387.30. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 32.53 and a beta of 1.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.90 and a current ratio of 1.90.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, October 29th. The Wireless communications provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $1.77. InterDigital had a return on equity of 28.34% and a net margin of 38.53%. The business had revenue of $193.43 million for the quarter, compared to analysts’ expectations of $152.97 million. During the same period in the previous year, the business posted $1.93 EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts predict that InterDigital, Inc. will post 10.44 earnings per share for the current year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 14th were paid a $0.75 dividend. The ex-dividend date was Wednesday, October 14th. This is a positive change from InterDigital’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 1.0%. InterDigital’s dividend payout ratio is 33.04%.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 1,500 shares of InterDigital stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $307.38, for a total value of $461,070.00. Following the completion of the transaction, the chief technology officer owned 62,050 shares in the company, valued at $19,072,929. This trade represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,500 shares of company stock valued at $1,469,550 in the last three months. 3.50% of the stock is owned by company insiders.

About InterDigital

InterDigital, Inc. is a technology research and development company whose work focuses on wireless communications, video and related digital technologies. Rather than selling consumer devices, the company develops technology and licenses its intellectual property to companies that make and use connected products and services. Its research spans cellular communications, including technologies used in 4G and 5G networks, as well as Wi-Fi, video compression and other areas. InterDigital holds patents covering technologies incorporated into industry standards and licenses its portfolio to companies around the world.