ClariVest Asset Management LLC Decreases Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

ClariVest Asset Management LLC decreased its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 37.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,105 shares of the Wireless communications provider’s stock after selling 3,645 shares during the period. ClariVest Asset Management LLC’s holdings in InterDigital were worth $712,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in InterDigital by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock valued at $344,370,000 after buying an additional 17,238 shares in the last quarter. Norges Bank bought a new stake in InterDigital in the fourth quarter worth $18,987,000. Principal Financial Group Inc. raised its stake in InterDigital by 1.2% during the first quarter. Principal Financial Group Inc. now owns 151,173 shares of the Wireless communications provider’s stock valued at $16,094,000 after purchasing an additional 1,758 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in InterDigital during the fourth quarter valued at $13,309,000. Finally, Emerald Advisers LLC grew its stake in shares of InterDigital by 127,997.9% in the 2nd 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. 99.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Derek K. Aberle sold 2,005 shares of the company’s 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 transaction, the director now directly owns 7,639 shares in the company, valued at $1,026,681.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

IDCC has been the subject of a number of analyst reports. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, August 22nd. Roth Mkm upped their price objective on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday.

InterDigital Price Performance

InterDigital stock opened at $132.45 on Friday. InterDigital, Inc. has a 12-month low of $74.65 and a 12-month high of $140.60. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $130.40 and a 200-day moving average price of $115.23. The firm has a market capitalization of $3.34 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 0.84 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last announced its earnings results 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 business had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. As a group, equities research analysts forecast that InterDigital, Inc. will post 9.05 EPS for the current year.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.36%. The ex-dividend date is Wednesday, October 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is 23.53%.

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.