Janus Henderson Group PLC Trims Stake in InterDigital, Inc. (NASDAQ:IDCC)

Janus Henderson Group PLC lessened its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 18.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,854 shares of the Wireless communications provider’s stock after selling 2,400 shares during the quarter. Janus Henderson Group PLC’s holdings in InterDigital were worth $1,538,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IDCC. Fred Alger Management LLC boosted its holdings in InterDigital by 15.3% during the 3rd quarter. Fred Alger Management LLC now owns 30,878 shares of the Wireless communications provider’s stock valued at $4,373,000 after acquiring an additional 4,101 shares during the period. Verition Fund Management LLC lifted its position in shares of InterDigital by 404.1% during the third quarter. Verition Fund Management LLC now owns 17,937 shares of the Wireless communications provider’s stock worth $2,540,000 after purchasing an additional 14,379 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of InterDigital by 0.5% during the third quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock valued at $1,965,000 after purchasing an additional 68 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of InterDigital by 18.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,799 shares of the Wireless communications provider’s stock worth $963,000 after purchasing an additional 1,041 shares during the last quarter. Finally, Bridgewater Associates LP increased its stake in InterDigital by 6.6% in the 3rd quarter. Bridgewater Associates LP now owns 22,840 shares of the Wireless communications provider’s stock worth $3,235,000 after buying an additional 1,423 shares during the period. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Down 0.8 %

Shares of InterDigital stock opened at $194.36 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 0.81 and a beta of 1.44. The firm’s 50-day moving average is $173.81 and its two-hundred day moving average is $143.71. InterDigital, Inc. has a 1 year low of $95.33 and a 1 year high of $203.90.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, January 8th. InterDigital’s payout ratio is 19.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. 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. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

Insider Buying and Selling

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now owns 54,984 shares of the company’s stock, valued at $7,850,615.52. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,340 shares of company stock valued at $472,253 over the last 90 days. Corporate 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.