Caprock Group LLC Grows Position in InterDigital, Inc. (NASDAQ:IDCC)

Caprock Group LLC raised its position in InterDigital, Inc. (NASDAQ:IDCC) by 8.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,156 shares of the Wireless communications provider’s stock after acquiring an additional 257 shares during the quarter. Caprock Group LLC’s holdings in InterDigital were worth $447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IDCC. Transcendent Capital Group LLC purchased a new position in shares of InterDigital in the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new position in InterDigital in the third quarter valued at approximately $26,000. 1620 Investment Advisors Inc. purchased a new position in InterDigital in the second quarter valued at approximately $29,000. GAMMA Investing LLC raised its holdings in InterDigital by 50.8% during the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 124 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director John A. Kritzmacher sold 2,500 shares of the company’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 completion of the sale, the director now owns 20,279 shares in the company, valued at $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,340 shares of company stock valued at $472,253. Insiders own 2.30% of the company’s stock.

InterDigital Stock Performance

Shares of InterDigital stock opened at $190.12 on Friday. The firm’s fifty day simple moving average is $156.92 and its 200-day simple moving average is $134.80. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $191.57. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 0.78 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62.

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. The ex-dividend date of this dividend was Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.95%. 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.