Touchstone Capital Inc. Cuts Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Touchstone Capital Inc. reduced its stake in InterDigital, Inc. (NASDAQ:IDCC) by 19.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,886 shares of the Wireless communications provider’s stock after selling 23,985 shares during the quarter. InterDigital accounts for 10.5% of Touchstone Capital Inc.’s portfolio, making the stock its 2nd largest position. Touchstone Capital Inc. owned approximately 0.40% of InterDigital worth $11,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in InterDigital by 220.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock valued at $125,014,000 after buying an additional 792,868 shares during the last quarter. Norges Bank acquired a new position in shares of InterDigital during the 4th quarter worth about $14,439,000. Marshall Wace LLP acquired a new position in shares of InterDigital during the 2nd quarter worth about $16,076,000. Two Sigma Investments LP acquired a new position in shares of InterDigital during the 1st quarter worth about $6,199,000. Finally, Vanguard Group Inc. increased its stake in shares of InterDigital by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,343,395 shares of the Wireless communications provider’s stock worth $268,274,000 after purchasing an additional 72,720 shares during the last quarter. 99.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th.

Insider Transactions at InterDigital

In other news, insider Joshua D. Schmidt sold 336 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $107.74, for a total transaction of $36,200.64. Following the completion of the sale, the insider now owns 18,267 shares of the company’s stock, valued at approximately $1,968,086.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $103.91, for a total transaction of $67,541.50. Following the completion of the transaction, the chief technology officer now directly owns 56,487 shares in the company, valued at approximately $5,869,564.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joshua D. Schmidt sold 336 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $107.74, for a total transaction of $36,200.64. Following the transaction, the insider now owns 18,267 shares of the company’s stock, valued at $1,968,086.58. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

InterDigital Stock Performance

Shares of IDCC stock opened at $106.46 on Friday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.85 and a beta of 1.34. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33. The company has a 50-day simple moving average of $106.23 and a 200 day simple moving average of $97.45. InterDigital, Inc. has a 52 week low of $66.82 and a 52 week high of $119.86.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $105.52 million during the quarter, compared to the consensus estimate of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. On average, sell-side analysts predict that InterDigital, Inc. will post 7.13 earnings per share for the current year.

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, April 9th. InterDigital’s dividend payout ratio is currently 21.33%.

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.