Hennion & Walsh Asset Management Inc. Sells 3,221 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Hennion & Walsh Asset Management Inc. cut its position in InterDigital, Inc. (NASDAQ:IDCC) by 29.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,836 shares of the Wireless communications provider’s stock after selling 3,221 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in InterDigital were worth $834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IDCC. Wellington Management Group LLP boosted its position in shares of InterDigital by 16.1% in the fourth quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock valued at $8,539,000 after acquiring an additional 10,926 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in InterDigital in the 4th quarter worth about $13,309,000. Trexquant Investment LP bought a new stake in InterDigital in the 4th quarter valued at about $1,779,000. Norges Bank bought a new stake in InterDigital in the 4th quarter valued at about $18,987,000. Finally, International Assets Investment Management LLC acquired a new position in shares of InterDigital during the 4th quarter worth approximately $9,012,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at InterDigital

In other news, insider Eeva K. Hakoranta sold 699 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the transaction, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the sale, the insider now owns 29,984 shares in the company, valued at approximately $2,871,567.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the transaction, the director now directly owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The disclosure for this sale can be found here. Insiders have sold 2,749 shares of company stock worth $282,883 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

InterDigital Trading Down 0.2 %

Shares of IDCC opened at $116.28 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34. InterDigital, Inc. has a 52-week low of $74.65 and a 52-week high of $119.86. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.01 and a beta of 1.42. The business’s fifty day moving average is $110.66 and its 200-day moving average is $106.84.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.06. The firm had revenue of $263.54 million for the quarter, compared to analysts’ expectations of $250.15 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. Equities analysts anticipate that InterDigital, Inc. will post 6.65 EPS for the current fiscal year.

InterDigital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.38%. The ex-dividend date is Wednesday, July 10th. InterDigital’s payout ratio is 23.53%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $100.00 price target (down from $106.00) on shares of InterDigital in a research note on Monday, May 13th. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Bank of America restated an “underperform” rating and issued a $100.00 price target (down previously from $140.00) on shares of InterDigital in a research report on Monday, April 1st.

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.