Victory Capital Management Inc. Reduces Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Victory Capital Management Inc. lowered its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 44.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,446 shares of the Wireless communications provider's stock after selling 12,311 shares during the period. Victory Capital Management Inc. owned 0.06% of InterDigital worth $2,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in 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 during the third quarter worth $27,762,000. Emerald Advisers LLC increased its stake in shares of InterDigital by 127,997.9% in the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider's stock valued at $14,035,000 after purchasing an additional 120,318 shares during the last quarter. International Assets Investment Management LLC raised its holdings 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 buying an additional 113,264 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in 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 buying an additional 79,648 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on IDCC. Roth Mkm boosted their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a "buy" rating to a "hold" rating in a research note on Monday, November 4th.

InterDigital Stock Up 2.0 %

NASDAQ IDCC traded up $3.71 during trading hours on Monday, hitting $193.83. The company's stock had a trading volume of 438,867 shares, compared to its average volume of 453,747. 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 company's 50-day simple moving average is $156.92 and its two-hundred day simple moving average is $135.01. The company has a market capitalization of $4.91 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 0.80 and a beta of 1.38. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $194.90.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a $0.45 dividend. This is an increase from InterDigital's previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 0.93%. InterDigital's dividend payout ratio is presently 19.23%.

Insiders Place Their Bets

In other news, insider Joshua D. Schmidt sold 140 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the transaction, the insider now owns 24,138 shares of the company's stock, valued at approximately $4,397,702.22. The trade was a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Kritzmacher sold 2,500 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,340 shares of company stock worth $472,253 over the last quarter. 2.30% of the stock is currently owned by company 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.