Sigma Planning Corp Lowers Stock Holdings in InterDigital, Inc. $IDCC

Sigma Planning Corp decreased its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 11.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,131 shares of the Wireless communications provider’s stock after selling 674 shares during the quarter. Sigma Planning Corp’s holdings in InterDigital were worth $1,150,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IDCC. New Vernon Capital Holdings II LLC lifted its stake in shares of InterDigital by 25,257.5% during the 1st quarter. New Vernon Capital Holdings II LLC now owns 204,889 shares of the Wireless communications provider’s stock valued at $42,361,000 after buying an additional 204,081 shares in the last quarter. Nuveen LLC bought a new stake in InterDigital in the 1st quarter valued at $20,967,000. Acadian Asset Management LLC increased its holdings in InterDigital by 1,556.8% in the 1st quarter. Acadian Asset Management LLC now owns 103,997 shares of the Wireless communications provider’s stock valued at $21,488,000 after acquiring an additional 97,720 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in InterDigital by 3,293.9% in the 1st quarter. Allianz Asset Management GmbH now owns 68,761 shares of the Wireless communications provider’s stock valued at $14,216,000 after acquiring an additional 66,735 shares during the last quarter. Finally, Castellan Group bought a new stake in InterDigital in the 1st quarter valued at $12,572,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the company a “buy” rating in a report on Thursday, October 30th. William Blair reiterated an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Weiss Ratings upgraded shares of InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a report on Tuesday, October 14th. Finally, Roth Capital lifted their price target on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $412.50.

InterDigital Stock Performance

InterDigital stock opened at $385.82 on Thursday. The company’s 50-day moving average price is $341.58 and its 200-day moving average price is $268.25. InterDigital, Inc. has a twelve month low of $169.58 and a twelve month high of $412.60. 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 company has a market cap of $9.93 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.88 and a beta of 1.45.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, October 8th. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s payout ratio is currently 18.89%.

Insider Activity

In related news, CTO Rajesh Pankaj sold 1,000 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the transaction, the chief technology officer directly owned 65,122 shares in the company, valued at approximately $22,016,445.76. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joshua D. Schmidt sold 466 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $395.63, for a total transaction of $184,363.58. Following the transaction, the insider owned 27,928 shares in the company, valued at $11,049,154.64. The trade was a 1.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,932 shares of company stock worth $1,200,528 over the last quarter. 2.30% of the stock is currently owned by insiders.

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.