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

Strid Group LLC lowered its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,921 shares of the Wireless communications provider’s stock after selling 5,769 shares during the quarter. InterDigital accounts for 0.9% of Strid Group LLC’s holdings, making the stock its 16th biggest position. Strid Group LLC owned approximately 0.15% of InterDigital worth $4,225,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in InterDigital in the 2nd quarter worth approximately $39,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of InterDigital in the 3rd quarter valued at about $68,000. Parkside Financial Bank & Trust raised its holdings in InterDigital by 12.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock worth $84,000 after purchasing an additional 114 shares during the period. DekaBank Deutsche Girozentrale boosted its position in InterDigital by 12.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after purchasing an additional 143 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in InterDigital in the second quarter valued at approximately $132,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

InterDigital Price Performance

Shares of InterDigital stock traded up $0.27 during mid-day trading on Thursday, reaching $96.28. 93,413 shares of the stock traded hands, compared to its average volume of 492,679. The stock has a market capitalization of $2.45 billion, a PE ratio of 12.80, a PEG ratio of 0.78 and a beta of 1.34. The business has a 50-day moving average of $104.01 and a 200 day moving average of $99.15. InterDigital, Inc. has a fifty-two week low of $66.82 and a fifty-two week high of $119.86. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05.

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

InterDigital Dividend Announcement

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

Analyst Ratings Changes

IDCC has been the topic of a number of recent analyst reports. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America reaffirmed an “underperform” rating and set a $100.00 price objective (down from $140.00) on shares of InterDigital in a report on Monday, April 1st.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the sale, the chief technology officer now owns 64,939 shares in the company, valued at approximately $6,190,634.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CTO Rajesh Pankaj sold 650 shares of the company’s 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 sale, the chief technology officer now directly owns 64,939 shares in the company, valued at $6,190,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eeva K. Hakoranta sold 699 shares of InterDigital 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 transaction, the insider now 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.

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.