Stifel Financial Corp Sells 15,127 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Stifel Financial Corp trimmed its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 89.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,699 shares of the Wireless communications provider's stock after selling 15,127 shares during the period. Stifel Financial Corp's holdings in InterDigital were worth $241,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Captrust Financial Advisors grew its position in InterDigital by 0.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider's stock worth $1,965,000 after purchasing an additional 68 shares in the last quarter. Simplicity Wealth LLC grew its holdings in shares of InterDigital by 1.5% during the third quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider's stock valued at $665,000 after buying an additional 69 shares in the last quarter. Blue Trust Inc. raised its position in InterDigital by 9.4% during the third quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider's stock valued at $166,000 after buying an additional 101 shares during the period. Larson Financial Group LLC lifted its stake in InterDigital by 8.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,418 shares of the Wireless communications provider's stock worth $201,000 after acquiring an additional 116 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in InterDigital by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,093 shares of the Wireless communications provider's stock worth $1,643,000 after acquiring an additional 153 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Stock Up 0.4 %

Shares of IDCC traded up $0.82 during midday trading on Monday, reaching $195.75. 337,756 shares of the stock were exchanged, compared to its average volume of 445,130. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 0.95 and a beta of 1.44. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $203.90. The firm has a 50 day simple moving average of $181.89 and a 200-day simple moving average of $149.55.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.92%. The ex-dividend date is Wednesday, January 8th. InterDigital's payout ratio is presently 19.23%.

Wall Street Analysts Forecast Growth

IDCC has been the topic of a number of research reports. StockNews.com downgraded InterDigital from a "buy" rating to a "hold" rating in a report on Monday, November 4th. 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 research report on Wednesday, September 11th.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction on Tuesday, November 19th. The shares were 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 of the company's stock, valued at $4,397,702.22. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $189.12, for a total value of $1,114,105.92. Following the transaction, the chief executive officer now owns 158,652 shares in the company, valued at approximately $30,004,266.24. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,622 shares of company stock worth $2,390,306 over the last ninety days. 2.30% of the stock is currently owned by insiders.

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.