Penserra Capital Management LLC Sells 67,947 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Penserra Capital Management LLC cut its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 91.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,454 shares of the Wireless communications provider’s stock after selling 67,947 shares during the period. Penserra Capital Management LLC’s holdings in InterDigital were worth $914,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in IDCC. Transcendent Capital Group LLC purchased a new position in shares of InterDigital in the 3rd quarter worth about $25,000. V Square Quantitative Management LLC purchased a new stake in InterDigital in the third quarter worth $26,000. 1620 Investment Advisors Inc. purchased a new stake in InterDigital in the second quarter worth $29,000. GAMMA Investing LLC raised its stake 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 valued at $43,000 after buying an additional 124 shares during the period. Finally, Nisa Investment Advisors LLC lifted 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 last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Stock Performance

NASDAQ IDCC opened at $196.43 on Thursday. The company’s 50 day simple moving average is $159.30 and its two-hundred day simple moving average is $136.26. The stock has a market capitalization of $4.98 billion, a PE ratio of 20.96, a P/E/G ratio of 0.81 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. InterDigital, Inc. has a 1 year low of $95.33 and a 1 year high of $197.64.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a $0.45 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Wednesday, October 9th. InterDigital’s dividend payout ratio is currently 19.23%.

Analyst Ratings Changes

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

Insider Activity

In related news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the sale, the chief technology officer now owns 54,984 shares of the company’s stock, valued at $7,850,615.52. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,340 shares of company stock worth $472,253. 2.30% of the stock is currently owned by insiders.

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.