Riverwater Partners LLC Trims Position in InterDigital, Inc. (NASDAQ:IDCC)

Riverwater Partners LLC decreased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 23.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 22,186 shares of the Wireless communications provider's stock after selling 6,812 shares during the period. InterDigital accounts for about 2.4% of Riverwater Partners LLC's portfolio, making the stock its 3rd largest holding. Riverwater Partners LLC owned 0.09% of InterDigital worth $4,587,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cardinal Capital Management boosted its holdings in shares of InterDigital by 4.3% during the 1st quarter. Cardinal Capital Management now owns 14,539 shares of the Wireless communications provider's stock worth $3,006,000 after buying an additional 605 shares during the period. D Orazio & Associates Inc. bought a new stake in shares of InterDigital during the 1st quarter worth about $206,000. Exchange Traded Concepts LLC bought a new stake in shares of InterDigital during the 1st quarter worth about $1,815,000. Ritholtz Wealth Management boosted its holdings in shares of InterDigital by 10.4% during the 1st quarter. Ritholtz Wealth Management now owns 30,393 shares of the Wireless communications provider's stock worth $6,284,000 after buying an additional 2,866 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of 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 buying an additional 316 shares during the period. Institutional investors own 99.83% of the company's stock.

Insiders Place Their Bets

In other InterDigital news, Director John A. Kritzmacher sold 519 shares of InterDigital stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $226.65, for a total value of $117,631.35. Following the completion of the sale, the director now owns 19,774 shares in the company, valued at $4,481,777.10. The trade was a 2.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $181.03, for a total transaction of $126,721.00. Following the completion of the transaction, the chief technology officer now owns 78,161 shares of the company's stock, valued at $14,149,485.83. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,296 shares of company stock worth $714,728 in the last quarter. 2.30% of the stock is currently owned by corporate insiders.

InterDigital Stock Performance

Shares of IDCC stock traded up $5.06 during midday trading on Monday, hitting $232.47. 230,320 shares of the company were exchanged, compared to its average volume of 375,952. The firm has a market capitalization of $6.03 billion, a P/E ratio of 18.44, a PEG ratio of 1.45 and a beta of 1.37. 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 firm's 50 day moving average price is $212.21 and its two-hundred day moving average price is $203.81. InterDigital, Inc. has a 52 week low of $114.56 and a 52 week high of $233.90.

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.03%. The ex-dividend date is Wednesday, July 9th. InterDigital's dividend payout ratio (DPR) is 19.03%.

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.