Assenagon Asset Management S.A. Sells 2,834 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Assenagon Asset Management S.A. lowered its position in InterDigital, Inc. (NASDAQ:IDCC) by 14.9% in the 3rd quarter, Holdings Channel reports. The firm owned 16,220 shares of the Wireless communications provider’s stock after selling 2,834 shares during the quarter. Assenagon Asset Management S.A.’s holdings in InterDigital were worth $2,297,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IDCC. Pacer Advisors Inc. lifted its stake in InterDigital by 51,337.0% in the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after purchasing an additional 741,820 shares during the last quarter. Reinhart Partners LLC. bought a new stake in InterDigital in the third quarter worth about $27,762,000. Emerald Advisers LLC lifted its stake in InterDigital by 127,997.9% in the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after purchasing an additional 120,318 shares during the last quarter. International Assets Investment Management LLC lifted its stake in InterDigital by 283,160.0% in the third quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock worth $16,047,000 after purchasing an additional 113,264 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in InterDigital by 473.5% in 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 purchasing an additional 79,648 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Performance

Shares of IDCC stock opened at $150.44 on Friday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.97 and a beta of 1.39. The company’s 50 day moving average is $141.90 and its 200 day moving average is $125.41. 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 52-week low of $74.90 and a 52-week high of $164.32.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $3.77. The company had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. On average, sell-side analysts anticipate that InterDigital, Inc. will post 9.06 EPS for the current fiscal year.

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 issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.20%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is presently 18.11%.

Insider Activity at InterDigital

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

Analysts Set New Price Targets

Several analysts have recently weighed in on IDCC shares. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Roth Mkm lifted their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

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.