Fifth Third Bancorp Sells 142 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Fifth Third Bancorp lessened its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 983 shares of the Wireless communications provider’s stock after selling 142 shares during the quarter. Fifth Third Bancorp’s holdings in InterDigital were worth $190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Reinhart Partners LLC. acquired a new stake in shares of InterDigital during the third quarter worth about $27,762,000. International Assets Investment Management LLC raised its holdings in InterDigital by 283,160.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock worth $16,047,000 after buying an additional 113,264 shares during the period. Emerald Advisers LLC lifted its stake in InterDigital by 50.3% in the third quarter. Emerald Advisers LLC now owns 180,987 shares of the Wireless communications provider’s stock valued at $25,633,000 after buying an additional 60,575 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of InterDigital by 28.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock valued at $30,420,000 after buying an additional 48,137 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of InterDigital by 3.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,132,818 shares of the Wireless communications provider’s stock worth $160,441,000 after acquiring an additional 39,891 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Lawrence Liren Chen sold 5,891 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the transaction, the chief executive officer now directly owns 158,652 shares in the company, valued at approximately $30,004,266.24. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction 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 completion of the sale, the insider now owns 24,138 shares of the company’s stock, valued at approximately $4,397,702.22. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,622 shares of company stock valued at $2,433,251 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

InterDigital Price Performance

Shares of IDCC opened at $182.98 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $207.08. The stock has a market capitalization of $4.64 billion, a P/E ratio of 19.55, a P/E/G ratio of 2.05 and a beta of 1.44. The company has a 50 day moving average of $189.00 and a 200-day moving average of $160.43.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $1.80 annualized dividend and a yield of 0.98%. InterDigital’s payout ratio is currently 19.23%.

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.