Northwestern Mutual Wealth Management Co. Trims Position in InterDigital, Inc. (NASDAQ:IDCC)

Northwestern Mutual Wealth Management Co. lowered its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 88.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,575 shares of the Wireless communications provider’s stock after selling 11,995 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in InterDigital were worth $184,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IDCC. Virtu Financial LLC acquired a new position in InterDigital during the fourth quarter worth approximately $328,000. Wellington Management Group LLP increased its holdings in shares of InterDigital by 16.1% during the 4th quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after buying an additional 10,926 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of InterDigital in the 4th quarter worth $5,427,000. PNC Financial Services Group Inc. boosted its holdings in InterDigital by 40.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,703 shares of the Wireless communications provider’s stock valued at $402,000 after acquiring an additional 1,069 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in InterDigital by 1.8% during the first quarter. Los Angeles Capital Management LLC now owns 34,128 shares of the Wireless communications provider’s stock valued at $3,633,000 after acquiring an additional 612 shares during the period. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IDCC. Roth Mkm raised their price objective on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday.

InterDigital Trading Up 2.8 %

NASDAQ:IDCC opened at $151.79 on Friday. The business’s 50-day moving average is $137.67 and its two-hundred day moving average is $120.14. The firm has a market capitalization of $3.83 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39. InterDigital, Inc. has a 12 month low of $74.65 and a 12 month high of $151.97. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, beating the consensus estimate of $0.43 by $3.77. The business had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. Research analysts predict that InterDigital, Inc. will post 9.05 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.19%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is presently 26.47%.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the sale, the director now directly owns 7,639 shares of the company’s stock, valued at $1,026,681.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,205 shares of company stock valued at $716,218 in the last quarter. Company insiders own 2.30% of the company’s stock.

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.