Boston Partners Sells 9,776 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Boston Partners cut its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 614,740 shares of the Wireless communications provider’s stock after selling 9,776 shares during the period. Boston Partners’ holdings in InterDigital were worth $64,843,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Quadrant Capital Group LLC increased its position in InterDigital by 11.6% in the 4th quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock worth $107,000 after buying an additional 103 shares during the period. Juncture Wealth Strategies LLC raised its stake in InterDigital by 2.6% during the 1st quarter. Juncture Wealth Strategies LLC now owns 9,809 shares of the Wireless communications provider’s stock valued at $1,044,000 after purchasing an additional 246 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in InterDigital by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 28,896 shares of the Wireless communications provider’s stock valued at $3,136,000 after purchasing an additional 262 shares during the period. Riverview Trust Co acquired a new stake in InterDigital in the 1st quarter worth $31,000. Finally, Texas Permanent School Fund Corp grew its position in InterDigital by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,495 shares of the Wireless communications provider’s stock worth $2,395,000 after purchasing an additional 291 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Price Performance

Shares of IDCC stock traded down $0.64 during mid-day trading on Friday, reaching $136.23. The company’s stock had a trading volume of 1,069,644 shares, compared to its average volume of 379,049. The firm’s 50-day moving average is $119.12 and its two-hundred day moving average is $109.44. The company has a market cap of $3.44 billion, a P/E ratio of 20.03, a PEG ratio of 1.18 and a beta of 1.42. InterDigital, Inc. has a 1-year low of $74.65 and a 1-year high of $137.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.34 and a current ratio of 1.51.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.06. The firm had revenue of $263.54 million during the quarter, compared to analyst estimates of $250.15 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. On average, research analysts predict that InterDigital, Inc. will post 6.64 earnings per share for the current year.

InterDigital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were issued a $0.40 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.17%. InterDigital’s payout ratio is presently 23.53%.

Analyst Ratings Changes

IDCC has been the subject of several research reports. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $100.00 price objective (down previously from $106.00) on shares of InterDigital in a research report on Monday, May 13th.

Insider Buying and Selling

In other InterDigital news, Director John D. Jr. Markley sold 750 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total transaction of $86,460.00. Following the completion of the transaction, the director now directly owns 12,202 shares in the company, valued at $1,406,646.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $103.87, for a total value of $67,515.50. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John D. Jr. Markley sold 750 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the sale, the director now owns 12,202 shares in the company, valued at $1,406,646.56. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

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.