Public Sector Pension Investment Board Sells 2,000 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Public Sector Pension Investment Board trimmed its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 3.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,514 shares of the Wireless communications provider’s stock after selling 2,000 shares during the period. Public Sector Pension Investment Board owned approximately 0.21% of InterDigital worth $7,579,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Disciplined Growth Investors Inc. MN raised its position in shares of InterDigital by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider’s stock worth $127,392,000 after purchasing an additional 10,532 shares during the period. Pacer Advisors Inc. raised its position in shares of InterDigital by 51,337.0% during the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after purchasing an additional 741,820 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of InterDigital by 28.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock worth $30,420,000 after purchasing an additional 48,137 shares during the period. Reinhart Partners LLC. acquired a new position in shares of InterDigital during the third quarter worth approximately $27,762,000. Finally, Emerald Advisers LLC raised its position in shares of InterDigital by 50.3% during the third quarter. Emerald Advisers LLC now owns 180,987 shares of the Wireless communications provider’s stock worth $25,633,000 after purchasing an additional 60,575 shares during the period. 99.83% of the stock is currently owned by institutional investors.

Insider Activity at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total value of $25,506.60. Following the sale, the insider now directly owns 24,138 shares of the company’s stock, valued at approximately $4,397,702.22. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,340 shares of company stock valued at $472,253. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IDCC. Roth Mkm upped their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

InterDigital Trading Down 0.2 %

NASDAQ IDCC opened at $195.96 on Friday. The firm has a market capitalization of $4.97 billion, a P/E ratio of 20.94, a PEG ratio of 0.82 and a beta of 1.38. The business has a fifty day simple moving average of $161.70 and a 200 day simple moving average of $137.10. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $199.79. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a $0.45 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s dividend payout ratio is presently 19.23%.

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.