InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 80.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,713 shares of the Wireless communications provider’s stock after selling 14,820 shares during the quarter. Edgestream Partners L.P.’s holdings in InterDigital were worth $526,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC acquired a new position in shares of InterDigital during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of InterDigital in the 3rd quarter valued at approximately $26,000. 1620 Investment Advisors Inc. purchased a new stake in shares of InterDigital in the 2nd quarter valued at approximately $29,000. GAMMA Investing LLC raised its position in shares of InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 124 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 109 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Performance

NASDAQ:IDCC opened at $193.11 on Friday. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $203.90. 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 company has a 50 day moving average price of $166.50 and a 200 day moving average price of $139.83. The stock has a market capitalization of $4.89 billion, a P/E ratio of 20.63, a PEG ratio of 0.84 and a beta of 1.44.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is currently 19.23%.

Insider Activity

In related news, insider Joshua D. Schmidt sold 140 shares of the company’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 sale, the insider now directly owns 24,138 shares of the company’s stock, valued at $4,397,702.22. This represents a 0.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the sale, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. The trade was a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,340 shares of company stock valued at $472,253. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on IDCC. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm raised their price objective on InterDigital from $146.00 to $160.00 and gave the stock 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.