Sigma Planning Corp Sells 3,653 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Sigma Planning Corp lowered its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 59.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,449 shares of the Wireless communications provider’s stock after selling 3,653 shares during the quarter. Sigma Planning Corp’s holdings in InterDigital were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its holdings in InterDigital by 8.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 374,348 shares of the Wireless communications provider’s stock worth $30,038,000 after acquiring an additional 28,176 shares in the last quarter. Brown Advisory Inc. boosted its holdings in InterDigital by 0.8% in the third quarter. Brown Advisory Inc. now owns 36,839 shares of the Wireless communications provider’s stock worth $2,956,000 after acquiring an additional 299 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in InterDigital by 2.1% in the third quarter. New York State Teachers Retirement System now owns 28,634 shares of the Wireless communications provider’s stock worth $2,298,000 after acquiring an additional 596 shares in the last quarter. Inspire Advisors LLC acquired a new stake in InterDigital in the third quarter worth about $356,000. Finally, Inspire Investing LLC boosted its holdings in InterDigital by 17.9% in the third quarter. Inspire Investing LLC now owns 3,839 shares of the Wireless communications provider’s stock worth $308,000 after acquiring an additional 582 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America reaffirmed an “underperform” rating and set a $100.00 target price (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th.

Insider Activity at InterDigital

In related news, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the completion of the sale, the chief technology officer now owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

InterDigital Trading Up 0.8 %

InterDigital stock opened at $100.71 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. InterDigital, Inc. has a 52 week low of $66.82 and a 52 week high of $119.86. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34. The stock has a 50-day moving average price of $102.74 and a 200 day moving average price of $100.16.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The company had revenue of $105.52 million during the quarter, compared to analysts’ expectations of $104.31 million. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. Sell-side analysts anticipate that InterDigital, Inc. will post 7.02 EPS for the current year.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.59%. The ex-dividend date was Tuesday, April 9th. InterDigital’s dividend payout ratio is currently 21.33%.

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.