Ritholtz Wealth Management Buys 5,588 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Ritholtz Wealth Management increased its position in InterDigital, Inc. (NASDAQ:IDCC) by 59.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,020 shares of the Wireless communications provider’s stock after acquiring an additional 5,588 shares during the period. Ritholtz Wealth Management’s holdings in InterDigital were worth $1,630,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Riverwater Partners LLC raised its holdings in InterDigital by 0.7% in the 4th quarter. Riverwater Partners LLC now owns 13,555 shares of the Wireless communications provider’s stock worth $1,471,000 after acquiring an additional 96 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in InterDigital by 12.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after buying an additional 114 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in InterDigital by 12.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after buying an additional 143 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in InterDigital by 0.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 34,016 shares of the Wireless communications provider’s stock valued at $2,729,000 after buying an additional 184 shares during the last quarter. Finally, Sigma Planning Corp grew its position in shares of InterDigital by 3.3% during the 3rd quarter. Sigma Planning Corp now owns 6,102 shares of the Wireless communications provider’s stock valued at $490,000 after acquiring an additional 193 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th.

Insider Transactions at InterDigital

In related news, insider Joshua D. Schmidt sold 336 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $107.74, for a total transaction of $36,200.64. Following the transaction, the insider now directly owns 18,267 shares of the company’s stock, valued at approximately $1,968,086.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other InterDigital news, insider Joshua D. Schmidt sold 336 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $107.74, for a total transaction of $36,200.64. Following the sale, the insider now owns 18,267 shares in the company, valued at approximately $1,968,086.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $103.91, for a total value of $67,541.50. Following the sale, the chief technology officer now owns 56,487 shares in the company, valued at approximately $5,869,564.17. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

InterDigital Stock Up 0.5 %

Shares of IDCC opened at $106.46 on Friday. The business’s 50 day moving average is $106.23 and its 200 day moving average is $97.45. The company has a market capitalization of $2.71 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.34. InterDigital, Inc. has a 12-month low of $66.82 and a 12-month high of $119.86. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The business had revenue of $105.52 million for the quarter, compared to the consensus estimate of $104.31 million. Research analysts expect that InterDigital, Inc. will post 7.13 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, April 9th. InterDigital’s payout ratio is 21.33%.

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.