Asset Management One Co. Ltd. Sells 4,286 Shares of InterDigital, Inc. $IDCC

Asset Management One Co. Ltd. reduced its stake in InterDigital, Inc. (NASDAQ:IDCC) by 23.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,261 shares of the Wireless communications provider’s stock after selling 4,286 shares during the period. Asset Management One Co. Ltd. owned 0.05% of InterDigital worth $3,198,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new position in InterDigital in the first quarter worth about $32,000. Banque Transatlantique SA bought a new position in InterDigital in the first quarter worth about $33,000. Headlands Technologies LLC purchased a new stake in InterDigital in the first quarter worth about $35,000. Concord Wealth Partners purchased a new stake in InterDigital in the first quarter worth about $37,000. Finally, Global Wealth Strategies & Associates purchased a new stake in InterDigital in the second quarter worth about $38,000. 99.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CTO Rajesh Pankaj sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the sale, the chief technology officer owned 65,122 shares in the company, valued at approximately $22,016,445.76. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $273.12, for a total transaction of $127,273.92. Following the completion of the sale, the insider owned 28,370 shares in the company, valued at $7,748,414.40. This represents a 1.62% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,466 shares of company stock worth $1,016,164. Corporate insiders own 2.80% of the company’s stock.

InterDigital Trading Up 2.8%

NASDAQ:IDCC opened at $382.87 on Thursday. The company’s 50 day moving average price is $329.66 and its 200-day moving average price is $261.67. InterDigital, Inc. has a 52 week low of $145.29 and a 52 week high of $393.28. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 1.83 and a beta of 1.44.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $3.75. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The firm had revenue of $300.60 million for the quarter, compared to analysts’ expectations of $167.93 million. During the same quarter in the prior year, the company posted $4.57 earnings per share. The business’s revenue for the quarter was up 34.5% on a year-over-year basis. On average, equities research analysts forecast that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, October 8th. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.7%. InterDigital’s dividend payout ratio is currently 19.96%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IDCC shares. Weiss Ratings upgraded shares of InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a report on Tuesday, October 14th. William Blair restated an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Jefferies Financial Group upgraded shares of InterDigital from a “hold” rating to a “buy” rating and set a $450.00 price objective on the stock in a report on Monday. Finally, Roth Capital upped their price objective on shares of InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $400.00.

InterDigital 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.