Ritholtz Wealth Management Grows Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Ritholtz Wealth Management raised its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 16.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,322 shares of the Wireless communications provider’s stock after acquiring an additional 3,381 shares during the quarter. Ritholtz Wealth Management owned approximately 0.10% of InterDigital worth $3,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. acquired a new stake in shares of InterDigital during the second quarter valued at $29,000. Riverview Trust Co purchased a new stake in shares of InterDigital during the first quarter worth about $31,000. GAMMA Investing LLC raised its position in shares of InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 124 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of InterDigital by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 109 shares during the period. Finally, Palisade Asset Management LLC acquired a new stake in InterDigital during the first quarter worth approximately $64,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insider Buying and Selling

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the transaction, the director now directly owns 7,639 shares of the company’s stock, valued at $1,026,681.60. 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. In related news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction 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 sale, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the transaction, the director now owns 7,639 shares in the company, valued at $1,026,681.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,205 shares of company stock valued at $716,218. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

IDCC has been the topic of a number of recent analyst reports. Roth Mkm increased their price target on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, October 7th.

InterDigital Stock Up 2.3 %

Shares of NASDAQ IDCC opened at $155.32 on Friday. The stock has a market capitalization of $3.92 billion, a PE ratio of 22.84, a P/E/G ratio of 0.94 and a beta of 1.39. 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 firm has a fifty day moving average of $138.06 and a 200-day moving average of $120.60. InterDigital, Inc. has a 52-week low of $74.65 and a 52-week high of $155.64.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, topping the consensus estimate of $0.43 by $3.77. The company had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. On average, analysts anticipate that InterDigital, Inc. will post 9.04 EPS for the current year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Wednesday, October 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio (DPR) is currently 26.47%.

InterDigital 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.