Ameritas Investment Partners Inc. Sells 127 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Ameritas Investment Partners Inc. reduced its stake in InterDigital, Inc. (NASDAQ:IDCC) by 4.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,567 shares of the Wireless communications provider’s stock after selling 127 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in InterDigital were worth $273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IDCC. Riverview Trust Co acquired a new stake in InterDigital in the 1st quarter valued at $31,000. Palisade Asset Management LLC acquired a new position in shares of InterDigital during the 1st quarter worth about $64,000. Quadrant Capital Group LLC increased its stake in shares of InterDigital by 11.6% during the 4th quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock worth $107,000 after purchasing an additional 103 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of InterDigital during the 1st quarter worth about $208,000. Finally, Inceptionr LLC acquired a new position in shares of InterDigital during the 4th quarter worth about $210,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IDCC has been the topic of several recent analyst reports. StockNews.com lowered 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 target (down previously from $106.00) on shares of InterDigital in a research note on Monday, May 13th. Finally, Bank of America reissued an “underperform” rating and issued a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

Insider Transactions at InterDigital

In other news, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total transaction of $86,460.00. Following the completion of the sale, the director now owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. 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 Monday, May 6th. The shares were sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the transaction, the chief technology officer now directly owns 64,517 shares in the company, valued at approximately $6,701,380.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 12,202 shares of the company’s stock, valued at $1,406,646.56. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

InterDigital Stock Performance

NASDAQ IDCC opened at $121.29 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $3.06 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.06 and a beta of 1.42. InterDigital, Inc. has a 12-month low of $74.65 and a 12-month high of $124.45. The firm has a 50-day moving average price of $116.91 and a two-hundred day moving average price of $108.38.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.06. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The company had revenue of $263.54 million during the quarter, compared to the consensus estimate of $250.15 million. Analysts anticipate that InterDigital, Inc. will post 6.65 earnings per share for the current year.

InterDigital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Wednesday, July 10th. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

InterDigital Company 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.