InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC cut its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 27.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,263 shares of the Wireless communications provider’s stock after selling 466 shares during the period. Larson Financial Group LLC’s holdings in InterDigital were worth $134,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDCC. GSA Capital Partners LLP raised its holdings in shares of InterDigital by 25.0% in the 1st quarter. GSA Capital Partners LLP now owns 12,109 shares of the Wireless communications provider’s stock worth $1,289,000 after purchasing an additional 2,420 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in shares of InterDigital during the first quarter valued at approximately $64,000. Hussman Strategic Advisors Inc. increased its stake in InterDigital by 53.8% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the Wireless communications provider’s stock valued at $4,471,000 after buying an additional 14,700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in InterDigital by 13.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,464 shares of the Wireless communications provider’s stock valued at $7,821,000 after buying an additional 8,533 shares during the period. Finally, Arkadios Wealth Advisors acquired a new position in InterDigital in the 1st quarter valued at approximately $208,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $103.87, for a total transaction of $67,515.50. Following the transaction, the chief technology officer now directly owns 64,517 shares in the company, valued at approximately $6,701,380.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director John D. Jr. Markley sold 750 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the sale, the director now directly owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $103.87, for a total value of $67,515.50. Following the completion of the sale, the chief technology officer now directly owns 64,517 shares of the company’s stock, valued at $6,701,380.79. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on IDCC shares. Bank of America reaffirmed an “underperform” rating and set a $100.00 price objective (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. Jefferies Financial Group reiterated a “hold” rating and set a $100.00 target price (down from $106.00) on shares of InterDigital in a research note on Monday, May 13th. Finally, StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th.

InterDigital Stock Performance

Shares of InterDigital stock traded up $0.90 during trading on Wednesday, reaching $122.15. The company’s stock had a trading volume of 248,764 shares, compared to its average volume of 486,168. The firm has a market cap of $3.08 billion, a PE ratio of 17.82, a P/E/G ratio of 1.05 and a beta of 1.42. The business’s 50-day moving average price is $113.06 and its 200-day moving average price is $107.26. InterDigital, Inc. has a 52 week low of $74.65 and a 52 week high of $123.14. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.16 by $0.06. The firm had revenue of $263.54 million during the quarter, compared to the consensus estimate of $250.15 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. Equities analysts forecast that InterDigital, Inc. will post 6.65 earnings per share for the current year.

InterDigital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, July 10th. InterDigital’s payout ratio is presently 23.53%.

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.