Penserra Capital Management LLC Sells 67,947 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Penserra Capital Management LLC lessened its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 91.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,454 shares of the Wireless communications provider's stock after selling 67,947 shares during the quarter. Penserra Capital Management LLC's holdings in InterDigital were worth $914,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN boosted its holdings in InterDigital by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider's stock valued at $127,392,000 after purchasing an additional 10,532 shares during the period. Pacer Advisors Inc. increased its holdings 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 valued at $86,635,000 after buying an additional 741,820 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of InterDigital by 28.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider's stock worth $30,420,000 after acquiring an additional 48,137 shares during the period. Reinhart Partners LLC. acquired a new stake in shares of InterDigital during the 3rd quarter valued at about $27,762,000. Finally, Emerald Advisers LLC increased its stake in InterDigital by 50.3% in the third quarter. Emerald Advisers LLC now owns 180,987 shares of the Wireless communications provider's stock valued at $25,633,000 after acquiring an additional 60,575 shares during the period. Institutional investors and hedge funds own 99.83% of the company's stock.

InterDigital Trading Up 0.2 %

Shares of NASDAQ:IDCC traded up $0.45 during trading on Thursday, hitting $196.43. 277,672 shares of the company's stock were exchanged, compared to its average volume of 452,408. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. The firm has a market cap of $4.98 billion, a P/E ratio of 20.99, a PEG ratio of 0.81 and a beta of 1.38. The firm has a 50-day moving average price of $160.53 and a two-hundred day moving average price of $136.68. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $197.64.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. This is a boost from InterDigital's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 0.92%. InterDigital's payout ratio is presently 19.23%.

Analysts Set New Price Targets

A number of research firms recently issued reports on IDCC. Roth Mkm lifted their price target on InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. StockNews.com lowered shares of InterDigital from a "buy" rating to a "hold" rating in a research report on Monday, November 4th.

Insider Activity

In related news, Director John A. Kritzmacher sold 2,500 shares of the 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 sale, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. This trade represents a 10.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction that occurred 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 transaction, the insider now directly owns 24,138 shares in the company, valued at $4,397,702.22. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,340 shares of company stock valued at $472,253 in the last 90 days. 2.30% of the stock is 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.