BI Asset Management Fondsmaeglerselskab A S Lowers Stake in InterDigital, Inc. $IDCC

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 21.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,349 shares of the Wireless communications provider’s stock after selling 21,685 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.31% of InterDigital worth $27,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new position in InterDigital during the second quarter worth about $28,000. Root Financial Partners LLC purchased a new position in InterDigital in the 3rd quarter valued at approximately $30,000. Huntington National Bank raised its holdings in InterDigital by 530.3% in the second quarter. Huntington National Bank now owns 208 shares of the Wireless communications provider’s stock valued at $47,000 after acquiring an additional 175 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of InterDigital during the 3rd quarter worth about $49,000. Finally, Country Trust Bank acquired a new position in InterDigital in the second quarter valued at $56,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other InterDigital news, Director John A. Kritzmacher sold 1,250 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $331.00, for a total value of $413,750.00. Following the sale, the director directly owned 15,815 shares of the company’s stock, valued at $5,234,765. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lawrence Liren Chen sold 5,958 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $327.62, for a total value of $1,951,959.96. Following the transaction, the chief executive officer owned 153,077 shares of the company’s stock, valued at approximately $50,151,086.74. This represents a 3.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 36,307 shares of company stock worth $11,905,598. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IDCC shares. Jefferies Financial Group set a $475.00 price target on InterDigital and gave the stock a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings downgraded shares of InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, December 29th. Roth Mkm reaffirmed a “buy” rating on shares of InterDigital in a report on Tuesday, January 20th. Zacks Research downgraded shares of InterDigital from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Finally, UBS Group set a $425.00 price objective on shares of InterDigital in a research report on Monday, December 1st. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $416.67.

InterDigital Price Performance

IDCC opened at $313.87 on Thursday. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a twelve month low of $180.60 and a twelve month high of $412.60. The company has a fifty day simple moving average of $331.41 and a 200 day simple moving average of $322.07. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 21.18 and a beta of 1.58.

InterDigital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, January 14th. InterDigital’s dividend payout ratio (DPR) is 18.89%.

InterDigital Profile

InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.

The company’s principal services include patent licensing, technology evaluation and consulting.