Public Sector Pension Investment Board Sells 2,000 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Public Sector Pension Investment Board decreased its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 3.6% in the 3rd quarter, Holdings Channel reports. The fund owned 53,514 shares of the Wireless communications provider’s stock after selling 2,000 shares during the quarter. Public Sector Pension Investment Board’s holdings in InterDigital were worth $7,579,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors LLC bought a new position in shares of InterDigital during the 3rd quarter worth $1,427,000. Ritholtz Wealth Management grew its stake in shares of InterDigital by 16.1% during the 3rd quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider’s stock worth $3,445,000 after acquiring an additional 3,381 shares during the period. Olympiad Research LP bought a new position in shares of InterDigital during the 3rd quarter worth $475,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of InterDigital during the 3rd quarter worth $568,000. Finally, Capital CS Group LLC bought a new position in shares of InterDigital during the 3rd quarter worth $502,000. Institutional investors own 99.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Roth Mkm raised their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

InterDigital Stock Down 0.2 %

Shares of NASDAQ IDCC opened at $195.96 on Friday. The company has a market cap of $4.97 billion, a P/E ratio of 20.94, a P/E/G ratio of 0.82 and a beta of 1.38. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $161.70 and a two-hundred day simple moving average of $137.10. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $199.79.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.92%. InterDigital’s payout ratio is presently 19.23%.

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the sale, the insider now directly owns 24,138 shares of the company’s stock, valued at approximately $4,397,702.22. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,340 shares of company stock valued at $472,253 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

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.