Riverwater Partners LLC Has $4.15 Million Position in InterDigital, Inc. (NASDAQ:IDCC)

Riverwater Partners LLC lifted its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 112.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,641 shares of the Wireless communications provider's stock after purchasing an additional 15,128 shares during the quarter. InterDigital comprises 2.1% of Riverwater Partners LLC's holdings, making the stock its 7th biggest position. Riverwater Partners LLC owned approximately 0.11% of InterDigital worth $4,148,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in shares of InterDigital by 51,337.0% in the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider's stock valued at $86,635,000 after purchasing an additional 741,820 shares in the last quarter. Reinhart Partners LLC. bought a new stake in InterDigital in the 3rd quarter valued at approximately $27,762,000. Emerald Advisers LLC boosted its position in InterDigital by 127,997.9% during the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider's stock worth $14,035,000 after acquiring an additional 120,318 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of InterDigital by 283,160.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider's stock worth $16,047,000 after acquiring an additional 113,264 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of InterDigital by 473.5% in 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 institutional investors.

InterDigital Stock Down 2.1 %

Shares of NASDAQ:IDCC traded down $3.13 during midday trading on Thursday, hitting $147.35. The stock had a trading volume of 389,338 shares, compared to its average volume of 458,492. The company has a market cap of $3.72 billion, a P/E ratio of 22.13, a PEG ratio of 0.94 and a beta of 1.39. InterDigital, Inc. has a 12 month low of $74.65 and a 12 month high of $157.50. The business's 50-day simple moving average is $140.71 and its 200-day simple moving average is $123.64. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03.

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

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from InterDigital's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital's dividend payout ratio (DPR) is presently 26.47%.

Wall Street Analyst Weigh In

Several research analysts recently commented on IDCC shares. Roth Mkm increased their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. StockNews.com upgraded shares of InterDigital from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th.

Insiders Place Their Bets

In related news, Director John A. Kritzmacher sold 2,500 shares of the company's stock in a transaction dated 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 owns 20,279 shares in the company, valued at approximately $2,813,102.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, October 7th. The stock was 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 of the company's stock, valued at approximately $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares in the company, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their ownership of the stock. 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 ninety days. 2.30% of the stock is currently owned by company insiders.

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.