Martingale Asset Management L P Sells 800 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Martingale Asset Management L P reduced its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 21.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,900 shares of the Wireless communications provider’s stock after selling 800 shares during the period. Martingale Asset Management L P’s holdings in InterDigital were worth $411,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its stake in InterDigital by 93.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,479 shares of the Wireless communications provider’s stock worth $262,000 after purchasing an additional 1,199 shares during the period. GAMMA Investing LLC grew its holdings in shares of InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 124 shares during the last quarter. CWM LLC grew its holdings in shares of InterDigital by 41.7% in the second quarter. CWM LLC now owns 635 shares of the Wireless communications provider’s stock worth $74,000 after purchasing an additional 187 shares during the last quarter. Juncture Wealth Strategies LLC lifted its holdings in InterDigital by 1.4% during the 2nd quarter. Juncture Wealth Strategies LLC now owns 9,943 shares of the Wireless communications provider’s stock valued at $1,159,000 after buying an additional 134 shares in the last quarter. Finally, Cardinal Capital Management boosted its position in InterDigital by 6.6% in the 2nd quarter. Cardinal Capital Management now owns 12,597 shares of the Wireless communications provider’s stock valued at $1,468,000 after buying an additional 780 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Insiders Place Their Bets

In related news, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares in the company, valued at $2,813,102.88. The trade was a 10.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joshua D. Schmidt sold 140 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the sale, the insider now owns 24,138 shares of the company’s stock, valued at approximately $4,397,702.22. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,340 shares of company stock worth $472,253 over the last 90 days. Company insiders own 2.30% of the company’s stock.

InterDigital Trading Up 1.8 %

NASDAQ IDCC opened at $200.08 on Wednesday. The company’s 50-day simple moving average is $164.00 and its two-hundred day simple moving average is $138.76. InterDigital, Inc. has a one year low of $95.33 and a one year high of $201.00. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 0.82 and a beta of 1.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a $0.45 dividend. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 0.90%. InterDigital’s payout ratio is 19.23%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Roth Mkm raised their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

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.