Massachusetts Financial Services Co. MA Trims Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Massachusetts Financial Services Co. MA decreased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 21.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,205 shares of the Wireless communications provider’s stock after selling 5,982 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.09% of InterDigital worth $3,145,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Intech Investment Management LLC lifted its position in InterDigital by 658.8% during the third quarter. Intech Investment Management LLC now owns 29,728 shares of the Wireless communications provider’s stock worth $4,210,000 after buying an additional 25,810 shares in the last quarter. Moran Wealth Management LLC raised its position in InterDigital by 37.9% in the third quarter. Moran Wealth Management LLC now owns 3,956 shares of the Wireless communications provider’s stock valued at $560,000 after purchasing an additional 1,087 shares during the period. Caprock Group LLC raised its position in InterDigital by 8.9% in the third quarter. Caprock Group LLC now owns 3,156 shares of the Wireless communications provider’s stock valued at $447,000 after purchasing an additional 257 shares during the period. Natixis Advisors LLC purchased a new stake in InterDigital in the third quarter valued at $1,427,000. Finally, Aubrey Capital Management Ltd raised its position in InterDigital by 45.0% in the third quarter. Aubrey Capital Management Ltd now owns 29,000 shares of the Wireless communications provider’s stock valued at $4,108,000 after purchasing an additional 9,000 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on IDCC. Roth Mkm lifted their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

Insider Buying and Selling

In other news, insider Joshua D. Schmidt sold 140 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction dated 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 directly owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,340 shares of company stock valued at $472,253 in the last three months. 2.30% of the stock is owned by corporate insiders.

InterDigital Price Performance

IDCC stock opened at $195.98 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $4.97 billion, a PE ratio of 20.94, a P/E/G ratio of 0.80 and a beta of 1.38. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $196.45. The business’s fifty day moving average price is $158.10 and its 200 day moving average price is $135.63.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.92%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital’s payout ratio is presently 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.