Nisa Investment Advisors LLC Sells 400 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Nisa Investment Advisors LLC reduced its position in InterDigital, Inc. (NASDAQ:IDCC) by 59.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 268 shares of the Wireless communications provider’s stock after selling 400 shares during the quarter. Nisa Investment Advisors LLC’s holdings in InterDigital were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in InterDigital in the 3rd quarter worth $68,000. Parkside Financial Bank & Trust raised its stake in InterDigital by 12.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after purchasing an additional 114 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in InterDigital by 12.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after purchasing an additional 143 shares during the period. Cohen Klingenstein LLC bought a new stake in shares of InterDigital during the fourth quarter valued at approximately $230,000. Finally, Larson Financial Group LLC lifted its holdings in shares of InterDigital by 14.7% in the third quarter. Larson Financial Group LLC now owns 2,165 shares of the Wireless communications provider’s stock worth $174,000 after buying an additional 278 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IDCC has been the topic of several research analyst reports. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Bank of America reiterated an “underperform” rating and issued a $100.00 target price (down from $140.00) on shares of InterDigital in a research report on Monday, April 1st.

Insider Buying and Selling at InterDigital

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

InterDigital Price Performance

IDCC stock opened at $97.90 on Tuesday. The company has a fifty day simple moving average of $103.57 and a two-hundred day simple moving average of $99.63. InterDigital, Inc. has a 52 week low of $66.82 and a 52 week high of $119.86. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.50 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.79 and a beta of 1.34.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS 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. Analysts anticipate that InterDigital, Inc. will post 7.02 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, April 9th. InterDigital’s payout ratio is 21.33%.

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.