Larson Financial Group LLC Sells 436 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Larson Financial Group LLC cut its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 20.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,729 shares of the Wireless communications provider’s stock after selling 436 shares during the period. Larson Financial Group LLC’s holdings in InterDigital were worth $188,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Duality Advisers LP bought a new position in InterDigital during the 4th quarter valued at $237,000. Hussman Strategic Advisors Inc. raised its stake in shares of InterDigital by 4.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 27,300 shares of the Wireless communications provider’s stock worth $2,963,000 after purchasing an additional 1,050 shares during the period. Capital Management Corp VA raised its stake in shares of InterDigital by 12.1% during the 4th quarter. Capital Management Corp VA now owns 237,654 shares of the Wireless communications provider’s stock worth $25,795,000 after purchasing an additional 25,601 shares during the period. Mackenzie Financial Corp bought a new stake in shares of InterDigital during the 4th quarter worth $1,782,000. Finally, Strs Ohio bought a new stake in shares of InterDigital during the 4th quarter worth $1,074,000. 99.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of InterDigital stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total transaction of $66,943.23. Following the completion of the transaction, the insider now owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the transaction, the chief technology officer now owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the transaction, the insider now directly owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

InterDigital Trading Up 0.7 %

Shares of IDCC opened at $99.66 on Thursday. The business has a 50-day moving average of $103.50 and a 200 day moving average of $99.76. InterDigital, Inc. has a fifty-two week low of $66.82 and a fifty-two week high of $119.86. The firm has a market cap of $2.54 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.81 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.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The company had revenue of $105.52 million during the quarter, compared to analyst estimates of $104.31 million. As a group, research analysts forecast that InterDigital, Inc. will post 7.02 EPS for the current year.

InterDigital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Tuesday, April 9th. InterDigital’s payout ratio is presently 21.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IDCC shares. Bank of America reiterated an “underperform” rating and set a $100.00 target price (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th.

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.