International Assets Investment Management LLC Has $16.05 Million Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

International Assets Investment Management LLC raised its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 283,160.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,304 shares of the Wireless communications provider's stock after purchasing an additional 113,264 shares during the period. International Assets Investment Management LLC owned approximately 0.45% of InterDigital worth $16,047,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in shares of InterDigital by 51,337.0% in the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider's stock valued at $86,635,000 after buying an additional 741,820 shares in the last quarter. Reinhart Partners LLC. acquired a new position in shares of InterDigital in the 3rd quarter worth approximately $27,762,000. Emerald Advisers LLC grew 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. Emerald Mutual Fund Advisers Trust increased its holdings in InterDigital by 473.5% during the 2nd 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 in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of InterDigital by 164.2% in the second quarter. Envestnet Asset Management Inc. now owns 117,826 shares of the Wireless communications provider's stock valued at $13,734,000 after buying an additional 73,227 shares during the last quarter. 99.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the sale, the chief technology officer now directly owns 54,984 shares of the company's stock, valued at $7,850,615.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John A. Kritzmacher sold 2,500 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the sale, the director now owns 20,279 shares of the company's stock, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at approximately $7,850,615.52. This represents 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 three months. Company insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. StockNews.com raised shares of InterDigital from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Roth Mkm raised their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, September 11th.

InterDigital Trading Down 0.8 %

IDCC stock traded down $1.14 during midday trading on Wednesday, reaching $148.49. The stock had a trading volume of 127,173 shares, compared to its average volume of 455,690. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 0.97 and a beta of 1.39. InterDigital, Inc. has a twelve month low of $74.90 and a twelve month high of $157.50. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $141.68 and a two-hundred day simple moving average of $125.25.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The business had revenue of $223.49 million during the quarter, compared to the consensus estimate of $95.63 million. As a group, research analysts expect that InterDigital, Inc. will post 9.06 EPS for the current fiscal year.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a $0.45 dividend. This is a positive change from InterDigital's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Wednesday, October 9th. InterDigital's dividend payout ratio (DPR) is currently 26.47%.

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.