InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Penn Mutual Asset Management

Penn Mutual Asset Management reduced its position in InterDigital, Inc. (NASDAQ:IDCC) by 10.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,750 shares of the Wireless communications provider’s stock after selling 450 shares during the quarter. InterDigital comprises about 1.1% of Penn Mutual Asset Management’s holdings, making the stock its 20th largest position. Penn Mutual Asset Management’s holdings in InterDigital were worth $531,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IDCC. Transcendent Capital Group LLC purchased a new stake in shares of InterDigital during the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in shares of InterDigital during the 3rd quarter valued at approximately $26,000. 1620 Investment Advisors Inc. purchased a new stake in shares of InterDigital during the 2nd quarter worth approximately $29,000. GAMMA Investing LLC grew its holdings in shares of InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after acquiring an additional 124 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 109 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IDCC has been the topic of several research reports. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Roth Mkm raised their target price on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

InterDigital Stock Performance

InterDigital stock opened at $200.08 on Wednesday. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $201.00. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 0.82 and a beta of 1.44. The stock has a fifty day moving average of $165.22 and a two-hundred day moving average of $139.40. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a $0.45 dividend. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 0.90%. InterDigital’s payout ratio is presently 19.23%.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the transaction, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the sale, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,340 shares of company stock valued at $472,253. Company 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.