Thrivent Financial for Lutherans Sells 230 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Thrivent Financial for Lutherans lessened its position in shares of InterDigital, Inc. (NASDAQ:IDCC – Get Rating) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 30,427 shares of the Wireless communications provider’s stock after selling 230 shares during the period. Thrivent Financial for Lutherans’ holdings in InterDigital were worth $1,506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IDCC. Victory Capital Management Inc. lifted its holdings in shares of InterDigital by 66.3% during the 3rd quarter. Victory Capital Management Inc. now owns 371,776 shares of the Wireless communications provider’s stock worth $15,027,000 after acquiring an additional 148,221 shares during the period. Boston Trust Walden Corp lifted its holdings in shares of InterDigital by 13.2% during the 4th quarter. Boston Trust Walden Corp now owns 615,013 shares of the Wireless communications provider’s stock worth $30,431,000 after acquiring an additional 71,477 shares during the period. Capital Management Corp VA increased its position in InterDigital by 20.9% during the 4th quarter. Capital Management Corp VA now owns 398,159 shares of the Wireless communications provider’s stock worth $19,701,000 after purchasing an additional 68,960 shares in the last quarter. Vanguard Group Inc. lifted its stake in InterDigital by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,411,704 shares of the Wireless communications provider’s stock valued at $217,667,000 after purchasing an additional 49,177 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in InterDigital by 100.3% in the second quarter. Cubist Systematic Strategies LLC now owns 95,885 shares of the Wireless communications provider’s stock valued at $5,830,000 after buying an additional 48,025 shares in the last quarter. Institutional investors own 83.97% of the company’s stock.

Analyst Ratings Changes

IDCC has been the subject of several research analyst reports. TheStreet upgraded shares of InterDigital from a “c+” rating to a “b” rating in a report on Monday, January 23rd. StockNews.com started coverage on InterDigital in a report on Thursday. They issued a “buy” rating for the company. Bank of America raised InterDigital from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $105.00 in a research note on Wednesday, May 10th. Finally, William Blair started coverage on InterDigital in a report on Thursday, January 26th. They set an “outperform” rating on the stock. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $92.50.

Insider Buying and Selling

In other InterDigital news, insider Eeva K. Hakoranta sold 766 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $73.05, for a total transaction of $55,956.30. Following the completion of the sale, the insider now owns 20,200 shares of the company’s stock, valued at approximately $1,475,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Eric Cohen sold 4,316 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $84.53, for a total transaction of $364,831.48. Following the completion of the sale, the insider now owns 45,477 shares of the company’s stock, valued at $3,844,170.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eeva K. Hakoranta sold 766 shares of InterDigital stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $73.05, for a total value of $55,956.30. Following the completion of the sale, the insider now owns 20,200 shares of the company’s stock, valued at $1,475,610. The disclosure for this sale can be found here. Insiders have sold a total of 28,476 shares of company stock valued at $2,138,966 over the last ninety days. 1.20% of the stock is owned by company insiders.

InterDigital Stock Performance

Shares of InterDigital stock opened at $84.38 on Monday. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 1.00 and a beta of 1.22. InterDigital, Inc. has a twelve month low of $40.23 and a twelve month high of $86.27. The company’s fifty day moving average is $74.28 and its 200 day moving average is $64.66. The company has a quick ratio of 4.70, a current ratio of 4.70 and a debt-to-equity ratio of 0.97.

InterDigital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 12th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, April 11th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. InterDigital’s dividend payout ratio (DPR) is 22.99%.

About InterDigital

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InterDigital, Inc engages in the design and development of technologies that enable and enhance wireless communications, and capabilities. It focuses on mobile technology and devices, which includes cellular wireless technology, Internet of Things, technology, video coding & transmission, sensor and sensor fusion technology.