Los Angeles Capital Management LLC Sells 7,750 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Los Angeles Capital Management LLC trimmed its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 30.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,104 shares of the Wireless communications provider’s stock after selling 7,750 shares during the quarter. Los Angeles Capital Management LLC owned 0.07% of InterDigital worth $2,564,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IDCC. Transcendent Capital Group LLC purchased a new stake in shares of InterDigital in the third quarter worth about $25,000. Covestor Ltd increased its holdings in InterDigital by 701.7% during the 3rd quarter. Covestor Ltd now owns 922 shares of the Wireless communications provider’s stock worth $131,000 after acquiring an additional 807 shares during the period. Assetmark Inc. lifted its stake in InterDigital by 5.9% in the 3rd quarter. Assetmark Inc. now owns 18,977 shares of the Wireless communications provider’s stock worth $2,688,000 after purchasing an additional 1,060 shares in the last quarter. CWA Asset Management Group LLC bought a new position in InterDigital in the 3rd quarter valued at $1,007,000. Finally, Leavell Investment Management Inc. purchased a new position in shares of InterDigital during the 3rd quarter valued at $232,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Insider Buying and Selling at InterDigital

In other news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Derek K. Aberle sold 2,005 shares of the business’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 completion of the sale, the director now owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,205 shares of company stock worth $716,218 over the last ninety days. Insiders own 2.30% of the company’s stock.

InterDigital Stock Up 0.7 %

Shares of NASDAQ:IDCC opened at $189.05 on Wednesday. The firm has a fifty day moving average of $148.80 and a 200 day moving average of $130.44. InterDigital, Inc. has a 52-week low of $88.08 and a 52-week high of $189.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market capitalization of $4.79 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 0.77 and a beta of 1.38.

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 issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.95%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is currently 19.23%.

Analyst Upgrades and Downgrades

IDCC has been the topic of a number of recent analyst reports. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Roth Mkm lifted their price target on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th.

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.