Riverwater Partners LLC Has $4.15 Million Stake in InterDigital, Inc. (NASDAQ:IDCC)

Riverwater Partners LLC raised its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 112.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,641 shares of the Wireless communications provider’s stock after buying an additional 15,128 shares during the quarter. InterDigital accounts for 2.1% of Riverwater Partners LLC’s investment portfolio, making the stock its 7th largest holding. Riverwater Partners LLC’s holdings in InterDigital were worth $4,148,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in shares of InterDigital by 51,337.0% during the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after purchasing an additional 741,820 shares during the period. Reinhart Partners LLC. bought a new position in shares of InterDigital during the third quarter valued at about $27,762,000. Emerald Advisers LLC boosted its holdings in InterDigital by 127,997.9% during the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after purchasing an additional 120,318 shares during the last quarter. International Assets Investment Management LLC increased its stake in InterDigital by 283,160.0% in the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock valued at $16,047,000 after buying an additional 113,264 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its position in shares of InterDigital by 473.5% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock worth $11,244,000 after buying an additional 79,648 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on IDCC. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Roth Mkm increased their price objective on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

Insider Buying and Selling

In other news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the company’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 completion of the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the completion of the sale, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,205 shares of company stock worth $716,218. Insiders own 2.30% of the company’s stock.

InterDigital Trading Down 1.7 %

NASDAQ:IDCC opened at $150.48 on Thursday. InterDigital, Inc. has a 1 year low of $74.65 and a 1 year high of $157.50. The stock’s fifty day moving average price is $140.71 and its two-hundred day moving average price is $123.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $3.80 billion, a P/E ratio of 22.13, a P/E/G ratio of 0.94 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The firm had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. As a group, analysts expect that InterDigital, Inc. will post 9.04 EPS for the current year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.20%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s payout ratio is presently 26.47%.

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.