InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lessened its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,567 shares of the Wireless communications provider’s stock after selling 127 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in InterDigital were worth $273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Riverview Trust Co acquired a new position in shares of InterDigital during the first quarter worth about $31,000. Palisade Asset Management LLC acquired a new position in shares of InterDigital in the first quarter worth about $64,000. Quadrant Capital Group LLC lifted its stake in shares of InterDigital by 11.6% in the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock worth $107,000 after acquiring an additional 103 shares in the last quarter. Inceptionr LLC acquired a new position in shares of InterDigital in the fourth quarter worth about $210,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of InterDigital in the fourth quarter worth about $211,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insider Buying and Selling

In related 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 value of $67,515.50. Following the completion of the transaction, the chief technology officer now directly owns 64,517 shares of the company’s stock, valued at approximately $6,701,380.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was 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 in the company, valued at $6,701,380.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction that occurred 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 owns 12,202 shares of the company’s stock, valued at $1,406,646.56. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

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

InterDigital Stock Down 1.6 %

Shares of InterDigital stock opened at $121.29 on Thursday. The firm has a market cap of $3.06 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.06 and a beta of 1.42. The business has a 50-day moving average price of $116.91 and a 200 day moving average price of $108.38. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $124.45. 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 posted its earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 EPS for the quarter, beating the consensus estimate of $3.16 by $0.06. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. The company had revenue of $263.54 million during the quarter, compared to analyst estimates of $250.15 million. On average, sell-side analysts forecast that InterDigital, Inc. will post 6.65 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Wednesday, July 10th. InterDigital’s dividend payout ratio (DPR) is 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.