InterDigital, Inc. $IDCC Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lowered its stake in InterDigital, Inc. (NASDAQ:IDCC) by 13.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 34,433 shares of the Wireless communications provider’s stock after selling 5,395 shares during the period. Penserra Capital Management LLC’s holdings in InterDigital were worth $11,887,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Moran Wealth Management LLC increased its holdings in InterDigital by 0.6% in the third quarter. Moran Wealth Management LLC now owns 4,751 shares of the Wireless communications provider’s stock valued at $1,640,000 after buying an additional 29 shares during the last quarter. CoreCap Advisors LLC increased its holdings in shares of InterDigital by 15.6% in the 3rd quarter. CoreCap Advisors LLC now owns 245 shares of the Wireless communications provider’s stock valued at $85,000 after acquiring an additional 33 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of InterDigital by 0.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 11,388 shares of the Wireless communications provider’s stock valued at $2,554,000 after acquiring an additional 41 shares during the last quarter. Creative Planning raised its position in shares of InterDigital by 0.3% during the 2nd quarter. Creative Planning now owns 15,345 shares of the Wireless communications provider’s stock valued at $3,441,000 after acquiring an additional 46 shares in the last quarter. Finally, Archer Investment Corp lifted its stake in InterDigital by 4.3% during the third quarter. Archer Investment Corp now owns 1,117 shares of the Wireless communications provider’s stock worth $386,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Insider Transactions at InterDigital

In other news, Director John A. Kritzmacher sold 1,250 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $331.00, for a total transaction of $413,750.00. Following the transaction, the director directly owned 15,815 shares of the company’s stock, valued at approximately $5,234,765. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lawrence Liren Chen sold 5,958 shares of InterDigital stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $327.62, for a total transaction of $1,951,959.96. Following the sale, the chief executive officer owned 153,077 shares in the company, valued at approximately $50,151,086.74. This represents a 3.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 36,307 shares of company stock worth $11,905,598 over the last quarter. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Roth Mkm reaffirmed a “buy” rating on shares of InterDigital in a report on Tuesday, January 20th. Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the stock a “buy” rating in a research report on Thursday, October 30th. UBS Group set a $425.00 price objective on shares of InterDigital in a research report on Monday, December 1st. Zacks Research cut shares of InterDigital from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Finally, Weiss Ratings downgraded InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $416.67.

InterDigital Trading Down 3.1%

Shares of NASDAQ:IDCC opened at $313.87 on Thursday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $331.41 and its 200 day moving average price is $322.07. The company has a market cap of $8.08 billion, a PE ratio of 21.18 and a beta of 1.58. InterDigital, Inc. has a fifty-two week low of $180.60 and a fifty-two week high of $412.60.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, January 14th. InterDigital’s dividend payout ratio is 18.89%.

InterDigital Profile

InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.

The company’s principal services include patent licensing, technology evaluation and consulting.