101,030 Shares in InterDigital, Inc. (NASDAQ:IDCC) Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 101,030 shares of the Wireless communications provider's stock, valued at approximately $19,572,000. Arrowstreet Capital Limited Partnership owned approximately 0.40% of InterDigital at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of IDCC. denkapparat Operations GmbH acquired a new position in shares of InterDigital during the 4th quarter worth about $1,422,000. Pictet Asset Management Holding SA raised its stake in shares of InterDigital by 15.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,339 shares of the Wireless communications provider's stock worth $647,000 after purchasing an additional 438 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of InterDigital in the 4th quarter worth $365,000. Norges Bank purchased a new stake in InterDigital in the 4th quarter valued at approximately $17,387,000. Finally, Congress Wealth Management LLC DE acquired a new position in InterDigital during the fourth quarter worth $8,570,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Eeva K. Hakoranta sold 350 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total value of $75,078.50. Following the completion of the transaction, the insider now directly owns 30,537 shares in the company, valued at approximately $6,550,491.87. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Brezski sold 9,602 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total value of $2,066,446.42. Following the sale, the chief financial officer now owns 102,555 shares of the company's stock, valued at approximately $22,070,861.55. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,833 shares of company stock valued at $2,938,660 in the last ninety days. Insiders own 2.30% of the company's stock.

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InterDigital Price Performance

IDCC traded down $4.61 on Tuesday, hitting $191.09. 517,294 shares of the company were exchanged, compared to its average volume of 416,522. The business's fifty day moving average is $207.96 and its 200 day moving average is $186.32. The firm has a market capitalization of $4.91 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a fifty-two week low of $95.36 and a fifty-two week high of $231.97. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a $0.60 dividend. This is an increase from InterDigital's previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital's dividend payout ratio is currently 19.93%.

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.