InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lessened its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,777 shares of the Wireless communications provider’s stock after selling 405 shares during the quarter. Fred Alger Management LLC’s holdings in InterDigital were worth $3,121,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IDCC. Pacer Advisors Inc. increased its stake 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 valued at $86,635,000 after acquiring an additional 741,820 shares during the period. Norges Bank acquired a new position in shares of InterDigital during the fourth quarter valued at approximately $18,987,000. Crossmark Global Holdings Inc. acquired a new position in shares of InterDigital during the fourth quarter valued at approximately $13,309,000. Emerald Advisers LLC boosted its holdings in InterDigital by 127,997.9% during the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after buying an additional 120,318 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in InterDigital by 473.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock worth $11,244,000 after buying an additional 79,648 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on IDCC. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, August 22nd. 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 report on Wednesday, September 11th.

Insider Buying and Selling

In related news, Director John A. Kritzmacher sold 2,500 shares of the firm’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 value of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction 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 sale, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the sale, the director now directly owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

InterDigital Trading Up 1.2 %

Shares of NASDAQ:IDCC opened at $138.45 on Friday. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 0.88 and a beta of 1.39. InterDigital, Inc. has a 1-year low of $74.65 and a 1-year high of $141.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. The company has a 50 day moving average price of $133.43 and a 200 day moving average price of $117.34.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The firm had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. On average, research analysts anticipate that InterDigital, Inc. will post 9.05 EPS for the current fiscal year.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be paid a $0.45 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.30%. InterDigital’s dividend payout ratio (DPR) is currently 26.47%.

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.