Algert Global LLC Sells 10,530 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Algert Global LLC decreased its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 68.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,878 shares of the Wireless communications provider’s stock after selling 10,530 shares during the period. Algert Global LLC’s holdings in InterDigital were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN raised its position in InterDigital by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider’s stock worth $127,392,000 after purchasing an additional 10,532 shares during the period. Pacer Advisors Inc. grew its stake in shares of InterDigital by 51,337.0% during the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock valued at $86,635,000 after buying an additional 741,820 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of InterDigital by 28.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock worth $30,420,000 after buying an additional 48,137 shares during the period. Reinhart Partners LLC. bought a new stake in shares of InterDigital during the 3rd quarter worth approximately $27,762,000. Finally, Emerald Advisers LLC boosted its holdings in InterDigital by 50.3% during the 3rd quarter. Emerald Advisers LLC now owns 180,987 shares of the Wireless communications provider’s stock valued at $25,633,000 after acquiring an additional 60,575 shares during the period. Institutional investors own 99.83% of the company’s stock.

Insiders Place Their Bets

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction 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 sale, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction on Monday, October 7th. The stock was 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 approximately $7,850,615.52. The trade was a 1.26 % decrease in their ownership of the stock. 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. Corporate insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Roth Mkm boosted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th.

InterDigital Price Performance

Shares of IDCC stock opened at $195.96 on Friday. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $199.79. 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 stock has a fifty day simple moving average of $161.70 and a two-hundred day simple moving average of $137.10. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 0.82 and a beta of 1.38.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued 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 dividend 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.