InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,756 shares of the Wireless communications provider’s stock after selling 120 shares during the period. New York Life Investment Management LLC’s holdings in InterDigital were worth $516,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of InterDigital by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,343,395 shares of the Wireless communications provider’s stock valued at $268,274,000 after acquiring an additional 72,720 shares during the period. Pacer Advisors Inc. lifted its stake in InterDigital by 220.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock valued at $125,014,000 after buying an additional 792,868 shares in the last quarter. Shannon River Fund Management LLC raised its holdings in InterDigital by 3.9% in the 3rd quarter. Shannon River Fund Management LLC now owns 642,265 shares of the Wireless communications provider’s stock valued at $51,535,000 after acquiring an additional 23,815 shares during the last quarter. Capital Management Corp VA raised its holdings in InterDigital by 12.1% in the 4th quarter. Capital Management Corp VA now owns 237,654 shares of the Wireless communications provider’s stock valued at $25,795,000 after acquiring an additional 25,601 shares during the last quarter. Finally, Penserra Capital Management LLC raised its holdings in InterDigital by 29.0% in the 3rd quarter. Penserra Capital Management LLC now owns 93,106 shares of the Wireless communications provider’s stock valued at $7,470,000 after acquiring an additional 20,906 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

InterDigital Stock Down 0.2 %

Shares of NASDAQ IDCC opened at $105.56 on Friday. The company has a 50 day simple moving average of $101.60 and a 200-day simple moving average of $101.34. The company has a market capitalization of $2.66 billion, a P/E ratio of 15.52, a P/E/G ratio of 0.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. InterDigital, Inc. has a 1 year low of $74.65 and a 1 year high of $119.86.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. On average, equities research analysts predict that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.52%. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $103.87, for a total value of $67,515.50. Following the completion of the sale, the chief technology officer now owns 64,517 shares in the company, valued at approximately $6,701,380.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were 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 owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the transaction, the chief technology officer now directly owns 64,517 shares of the company’s stock, valued at approximately $6,701,380.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,999 shares of company stock worth $196,423. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

IDCC has been the subject of a number of recent research reports. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America reiterated an “underperform” rating and issued a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

InterDigital Company 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.