Emerald Mutual Fund Advisers Trust Decreases Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Emerald Mutual Fund Advisers Trust cut its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,576 shares of the Wireless communications provider's stock after selling 3,906 shares during the quarter. InterDigital makes up about 1.3% of Emerald Mutual Fund Advisers Trust's portfolio, making the stock its 22nd largest position. Emerald Mutual Fund Advisers Trust owned approximately 0.35% of InterDigital worth $18,727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Xponance Inc. boosted its stake in InterDigital by 5.5% during the first quarter. Xponance Inc. now owns 1,923 shares of the Wireless communications provider's stock worth $398,000 after acquiring an additional 100 shares in the last quarter. Cerity Partners LLC boosted its stake in InterDigital by 91.2% during the first quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider's stock worth $533,000 after acquiring an additional 1,229 shares in the last quarter. Alps Advisors Inc. boosted its stake in InterDigital by 5.5% during the first quarter. Alps Advisors Inc. now owns 56,498 shares of the Wireless communications provider's stock worth $11,681,000 after acquiring an additional 2,945 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in InterDigital by 3.4% during the first quarter. Leavell Investment Management Inc. now owns 1,844 shares of the Wireless communications provider's stock worth $381,000 after acquiring an additional 60 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in shares of InterDigital by 19.9% in the first quarter. Greenleaf Trust now owns 1,826 shares of the Wireless communications provider's stock valued at $378,000 after buying an additional 303 shares in the last quarter. 99.83% of the stock is owned by institutional investors.

InterDigital Stock Down 1.8%

Shares of NASDAQ IDCC traded down $4.02 during mid-day trading on Friday, reaching $225.27. 252,547 shares of the company's stock traded hands, compared to its average volume of 368,391. The stock has a market cap of $5.84 billion, a P/E ratio of 17.86, a PEG ratio of 1.44 and a beta of 1.36. The business has a 50-day simple moving average of $220.95 and a 200 day simple moving average of $207.02. InterDigital, Inc. has a 1-year low of $120.18 and a 1-year high of $237.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.76 and a quick ratio of 1.76.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, July 9th. InterDigital's dividend payout ratio is currently 19.03%.

Insider Activity

In other news, Director Jean F. Rankin sold 606 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $226.47, for a total value of $137,240.82. Following the completion of the sale, the director owned 27,353 shares in the company, valued at $6,194,633.91. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Derek K. Aberle sold 692 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $226.41, for a total transaction of $156,675.72. Following the completion of the sale, the director owned 6,192 shares of the company's stock, valued at approximately $1,401,930.72. This represents a 10.05% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,062 shares of company stock valued at $920,853. 2.80% of the stock is currently owned by insiders.

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.