Los Angeles Capital Management LLC Sells 7,750 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Los Angeles Capital Management LLC lowered its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 30.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,104 shares of the Wireless communications provider's stock after selling 7,750 shares during the period. Los Angeles Capital Management LLC owned approximately 0.07% of InterDigital worth $2,564,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Simplicity Wealth LLC lifted its holdings in 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 acquiring an additional 69 shares during the period. Miller Howard Investments Inc. NY increased its position in InterDigital by 2.0% in the second quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider's stock worth $536,000 after buying an additional 90 shares during the last quarter. Blue Trust Inc. increased its position in InterDigital by 9.4% in the third quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider's stock worth $166,000 after buying an additional 101 shares during the last quarter. Nisa Investment Advisors LLC increased its position in InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider's stock worth $46,000 after buying an additional 109 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider's stock worth $43,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

InterDigital Price Performance

InterDigital stock traded down $4.63 during midday trading on Wednesday, hitting $184.42. 503,792 shares of the company's stock were exchanged, compared to its average volume of 459,291. InterDigital, Inc. has a 52-week low of $91.15 and a 52-week high of $191.57. The stock has a 50-day moving average price of $149.80 and a two-hundred day moving average price of $130.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market cap of $4.67 billion, a P/E ratio of 19.70, a PEG ratio of 0.80 and a beta of 1.38.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 0.98%. This is a positive change from InterDigital's previous quarterly dividend of $0.40. InterDigital's payout ratio is 19.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Roth Mkm lifted their price target on InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. StockNews.com cut InterDigital from a "buy" rating to a "hold" rating in a research report on Monday, November 4th.

Insiders Place Their Bets

In other news, Director Derek K. Aberle sold 2,005 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares of the company's stock, valued at approximately $1,026,681.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the transaction, the director now owns 7,639 shares of the company's stock, valued at $1,026,681.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John A. Kritzmacher sold 2,500 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now directly owns 20,279 shares of the company's stock, valued at $2,813,102.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,205 shares of company stock valued at $716,218 over the last 90 days. Insiders own 2.30% of the company's stock.

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.