Touchstone Capital Inc. Has $4.14 Million Position in InterDigital, Inc. (NASDAQ:IDCC)

Touchstone Capital Inc. cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 21.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,216 shares of the Wireless communications provider's stock after selling 7,898 shares during the period. InterDigital comprises approximately 6.3% of Touchstone Capital Inc.'s portfolio, making the stock its 5th largest position. Touchstone Capital Inc. owned 0.12% of InterDigital worth $4,138,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IDCC. 1620 Investment Advisors Inc. acquired a new stake in InterDigital during the 2nd quarter worth approximately $29,000. Riverview Trust Co acquired a new position in shares of InterDigital in the 1st quarter worth approximately $31,000. GAMMA Investing LLC lifted its position in shares of InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider's stock worth $43,000 after purchasing an additional 124 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider's stock worth $46,000 after purchasing an additional 109 shares during the period. Finally, Palisade Asset Management LLC acquired a new position in shares of InterDigital in the 1st quarter worth approximately $64,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the business's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the sale, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of the business's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the sale, the director now owns 7,639 shares of the company's stock, valued at $1,026,681.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is owned by corporate insiders.

InterDigital Trading Up 2.0 %

Shares of NASDAQ:IDCC traded up $3.07 during mid-day trading on Wednesday, hitting $156.82. The company had a trading volume of 271,366 shares, compared to its average volume of 461,335. The firm has a fifty day moving average price of $138.79 and a 200 day moving average price of $121.38. The company has a market capitalization of $3.96 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 0.94 and a beta of 1.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. InterDigital, Inc. has a one year low of $74.65 and a one year high of $157.15.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $0.43 by $3.77. The company had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. As a group, research analysts forecast that InterDigital, Inc. will post 9.04 EPS for the current year.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change from InterDigital's previous quarterly dividend of $0.40. InterDigital's payout ratio is 26.47%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of InterDigital from a "hold" rating to a "buy" rating in a research report on Tuesday. Roth Mkm boosted their price target on shares of InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th.

InterDigital Company 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.