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

Penserra Capital Management LLC lowered its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 91.3% during the 3rd quarter, Holdings Channel.com reports. The firm 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 reporting period.

A number of other hedge funds have also modified their holdings of IDCC. Hancock Whitney Corp lifted its stake in shares of InterDigital by 60.0% during the 1st quarter. Hancock Whitney Corp now owns 14,061 shares of the Wireless communications provider’s stock valued at $1,497,000 after buying an additional 5,273 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of InterDigital by 121.3% in the first quarter. Virtu Financial LLC now owns 6,689 shares of the Wireless communications provider’s stock worth $712,000 after acquiring an additional 3,667 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of InterDigital by 93.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 2,479 shares of the Wireless communications provider’s stock worth $262,000 after purchasing an additional 1,199 shares in the last quarter. GAMMA Investing LLC raised its stake in InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 124 shares during the period. Finally, CWM LLC lifted its holdings in InterDigital by 41.7% in the 2nd quarter. CWM LLC now owns 635 shares of the Wireless communications provider’s stock worth $74,000 after purchasing an additional 187 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insider Transactions at InterDigital

In other news, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the transaction, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. The trade was a 10.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $25,506.60. Following the sale, the insider now owns 24,138 shares in the company, valued at $4,397,702.22. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,340 shares of company stock worth $472,253 in the last three months. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IDCC shares. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Roth Mkm lifted 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.

InterDigital Stock Up 0.2 %

NASDAQ IDCC opened at $196.43 on Thursday. The stock has a 50 day moving average price of $159.30 and a 200-day moving average price of $136.26. InterDigital, Inc. has a one year low of $95.33 and a one year high of $197.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market capitalization of $4.98 billion, a P/E ratio of 20.96, a P/E/G ratio of 0.81 and a beta of 1.38.

InterDigital Increases Dividend

The firm also recently disclosed 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 boost from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is presently 19.23%.

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.