Kovitz Investment Group Partners LLC Takes $380,000 Position in InterDigital, Inc. (NASDAQ:IDCC)

Kovitz Investment Group Partners LLC purchased a new position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,684 shares of the Wireless communications provider's stock, valued at approximately $380,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in InterDigital by 51,337.0% in the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider's stock worth $86,635,000 after purchasing an additional 741,820 shares during the period. Reinhart Partners LLC. purchased a new position in shares of InterDigital in the third quarter valued at $27,762,000. Emerald Advisers LLC grew its holdings in shares of InterDigital by 127,997.9% in the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider's stock valued at $14,035,000 after purchasing an additional 120,318 shares in the last quarter. International Assets Investment Management LLC increased its position in InterDigital by 283,160.0% in the third quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider's stock worth $16,047,000 after purchasing an additional 113,264 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its position in InterDigital by 473.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider's stock valued at $11,244,000 after purchasing an additional 79,648 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IDCC has been the topic of several recent research reports. StockNews.com cut shares of InterDigital from a "buy" rating to a "hold" rating in a research report on Monday, November 4th. Roth Mkm upped their price objective on InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th.

InterDigital Trading Down 0.7 %

Shares of NASDAQ:IDCC traded down $1.36 during trading on Friday, reaching $194.50. 108,182 shares of the company were exchanged, compared to its average volume of 447,182. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $4.93 billion, a PE ratio of 20.93, a P/E/G ratio of 0.81 and a beta of 1.44. The business's fifty day simple moving average is $172.79 and its 200-day simple moving average is $143.13. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $203.90.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, January 8th. InterDigital's dividend payout ratio (DPR) is 19.23%.

Insider Transactions at InterDigital

In other news, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction 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 completion of the sale, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. This represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the business's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now owns 20,279 shares in the company, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,340 shares of company stock valued at $472,253. Corporate insiders own 2.30% of the company's stock.

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.