Boston Partners Sells 16,914 Shares of InterDigital, Inc. $IDCC

Boston Partners lowered its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 1.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,197,561 shares of the Wireless communications provider’s stock after selling 16,914 shares during the period. Boston Partners’ holdings in InterDigital were worth $271,451,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in InterDigital during the first quarter valued at about $33,000. Headlands Technologies LLC bought a new stake in shares of InterDigital in the 1st quarter worth approximately $35,000. Concord Wealth Partners acquired a new stake in shares of InterDigital during the 1st quarter worth approximately $37,000. Global Wealth Strategies & Associates acquired a new stake in shares of InterDigital during the 2nd quarter worth approximately $38,000. Finally, Quarry LP increased its position in shares of InterDigital by 642.9% during the first quarter. Quarry LP now owns 208 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 180 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CTO Rajesh Pankaj sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $261.03, for a total value of $261,030.00. Following the transaction, the chief technology officer directly owned 67,122 shares of the company’s stock, valued at $17,520,855.66. The trade was a 1.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $395.63, for a total value of $184,363.58. Following the sale, the insider owned 27,928 shares in the company, valued at approximately $11,049,154.64. This trade represents a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,932 shares of company stock valued at $1,575,838 in the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IDCC has been the subject of several research reports. William Blair reaffirmed an “outperform” rating on shares of InterDigital in a research report on Monday, September 22nd. Weiss Ratings upgraded shares of InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research note on Tuesday, October 14th. Roth Capital raised their price objective on shares of InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Jefferies Financial Group set a $475.00 target price on shares of InterDigital and gave the company a “buy” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, InterDigital currently has an average rating of “Buy” and an average target price of $412.50.

InterDigital Stock Up 1.8%

IDCC opened at $371.63 on Wednesday. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 1.88 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. The firm’s 50-day simple moving average is $349.44 and its 200-day simple moving average is $273.95. InterDigital, Inc. has a twelve month low of $169.58 and a twelve month high of $412.60.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, October 8th. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 0.8%. InterDigital’s dividend payout ratio (DPR) is 18.89%.

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.