Kovitz Investment Group Partners LLC Purchases New Position in InterDigital, Inc. (NASDAQ:IDCC)

Kovitz Investment Group Partners LLC purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,684 shares of the Wireless communications provider’s stock, valued at approximately $380,000.

Several other hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors increased its stake in shares of InterDigital by 0.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock worth $1,965,000 after purchasing an additional 68 shares during the last quarter. Simplicity Wealth LLC grew its stake in InterDigital by 1.5% in the 3rd quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock valued at $665,000 after buying an additional 69 shares in the last quarter. Miller Howard Investments Inc. NY grew its stake in InterDigital by 2.0% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock valued at $536,000 after buying an additional 90 shares in the last quarter. Blue Trust Inc. grew its stake in InterDigital by 9.4% in the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock valued at $166,000 after buying an additional 101 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 109 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IDCC. Roth Mkm raised their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

InterDigital Stock Performance

InterDigital stock opened at $195.86 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $4.96 billion, a PE ratio of 20.93, a P/E/G ratio of 0.82 and a beta of 1.44. The firm has a fifty day simple moving average of $172.79 and a two-hundred day simple moving average of $143.13. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $203.90.

InterDigital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Wednesday, January 8th. InterDigital’s payout ratio is 19.23%.

Insider Buying and Selling at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the sale, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,340 shares of company stock worth $472,253. 2.30% of the stock is currently owned by company insiders.

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.