Simplicity Wealth LLC Grows Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Simplicity Wealth LLC lifted its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,696 shares of the Wireless communications provider’s stock after acquiring an additional 69 shares during the quarter. Simplicity Wealth LLC’s holdings in InterDigital were worth $665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IDCC. Wellington Management Group LLP grew its holdings in InterDigital by 16.1% during the 4th quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after acquiring an additional 10,926 shares in the last quarter. Duality Advisers LP boosted its stake in shares of InterDigital by 1,380.5% during the first quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock valued at $3,441,000 after purchasing an additional 30,137 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in InterDigital by 35.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,503 shares of the Wireless communications provider’s stock valued at $3,780,000 after buying an additional 9,263 shares during the period. Edgestream Partners L.P. raised its stake in InterDigital by 118.5% in the first quarter. Edgestream Partners L.P. now owns 13,361 shares of the Wireless communications provider’s stock worth $1,422,000 after buying an additional 7,245 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in InterDigital by 294,025.0% during the first quarter. Russell Investments Group Ltd. now owns 11,765 shares of the Wireless communications provider’s stock worth $1,253,000 after buying an additional 11,761 shares during the period. Institutional investors own 99.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IDCC shares. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Roth Mkm lifted their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

InterDigital Price Performance

Shares of IDCC opened at $155.32 on Monday. The company has a 50 day moving average of $138.06 and a two-hundred day moving average of $120.70. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $155.64. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 0.94 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The firm had revenue of $223.49 million during the quarter, compared to analysts’ expectations of $95.63 million. As a group, analysts predict that InterDigital, Inc. will post 9.04 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is 26.47%.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the transaction, the director now directly owns 7,639 shares in the company, valued at $1,026,681.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,205 shares of company stock valued at $716,218 in the last three months. 2.30% of the stock is owned by insiders.

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.