Assetmark Inc. Has $4.35 Million Stake in InterDigital, Inc. (NASDAQ:IDCC)

Assetmark Inc. grew its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 16.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,030 shares of the Wireless communications provider's stock after acquiring an additional 2,906 shares during the period. Assetmark Inc. owned 0.08% of InterDigital worth $4,348,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in InterDigital by 7.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider's stock worth $928,000 after purchasing an additional 316 shares during the last quarter. Cerity Partners LLC increased its position in InterDigital by 91.2% during the 1st quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider's stock worth $533,000 after buying an additional 1,229 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of InterDigital by 8.5% during the first quarter. Envestnet Asset Management Inc. now owns 146,384 shares of the Wireless communications provider's stock worth $30,265,000 after buying an additional 11,411 shares in the last quarter. CWM LLC lifted its holdings in shares of InterDigital by 24.0% during the first quarter. CWM LLC now owns 1,138 shares of the Wireless communications provider's stock worth $235,000 after buying an additional 220 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in InterDigital by 53.9% in the 1st quarter. GAMMA Investing LLC now owns 1,450 shares of the Wireless communications provider's stock valued at $300,000 after purchasing an additional 508 shares during the period. Institutional investors own 99.83% of the company's stock.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $224.58, for a total transaction of $224,580.00. Following the sale, the chief technology officer directly owned 76,580 shares of the company's stock, valued at approximately $17,198,336.40. The trade was a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Samir Armaly sold 779 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.52, for a total transaction of $176,459.08. Following the transaction, the director owned 3,128 shares of the company's stock, valued at approximately $708,554.56. This represents a 19.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,062 shares of company stock worth $920,853 in the last three months. Insiders own 2.80% of the company's stock.

InterDigital Price Performance

Shares of IDCC stock traded down $5.53 during trading on Friday, hitting $252.67. The company had a trading volume of 196,380 shares, compared to its average volume of 334,559. The firm has a market capitalization of $6.55 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.57 and a beta of 1.36. InterDigital, Inc. has a one year low of $129.76 and a one year high of $277.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 1.76. The stock's 50-day moving average price is $224.90 and its 200 day moving average price is $210.46.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.77 by $3.75. The company had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. InterDigital had a net margin of 48.14% and a return on equity of 50.51%. The firm's quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.57 EPS. Equities analysts expect that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. InterDigital's payout ratio is 19.03%.

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.