InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,401 shares of the Wireless communications provider’s stock after selling 415 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of InterDigital worth $2,039,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IDCC. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of InterDigital by 13.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,464 shares of the Wireless communications provider’s stock valued at $7,821,000 after acquiring an additional 8,533 shares during the last quarter. Palisade Asset Management LLC acquired a new position in shares of InterDigital in the 1st quarter valued at $64,000. GSA Capital Partners LLP increased its stake in InterDigital by 25.0% in the 1st quarter. GSA Capital Partners LLP now owns 12,109 shares of the Wireless communications provider’s stock worth $1,289,000 after purchasing an additional 2,420 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in InterDigital by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,495 shares of the Wireless communications provider’s stock worth $2,395,000 after buying an additional 291 shares during the period. Finally, Gallacher Capital Management LLC acquired a new position in shares of InterDigital in the first quarter worth about $303,000. 99.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IDCC has been the topic of a number of recent analyst reports. Roth Mkm boosted their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th.

InterDigital Stock Performance

IDCC stock opened at $165.70 on Friday. The stock has a market cap of $4.16 billion, a P/E ratio of 16.67, a P/E/G ratio of 0.93 and a beta of 1.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a 50 day simple moving average of $142.84 and a 200 day simple moving average of $126.06. InterDigital, Inc. has a 52 week low of $76.82 and a 52 week high of $166.46.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results 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 net margin of 37.99% and a return on equity of 44.57%. The business had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. Research analysts anticipate that InterDigital, Inc. will post 9.06 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.09%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital’s payout ratio is currently 18.11%.

Insider Activity at InterDigital

In related news, Director Derek K. Aberle sold 2,005 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the transaction, the director now owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction that occurred on Friday, September 20th. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,205 shares of company stock valued at $716,218. 2.30% of the stock is owned by corporate 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.