InterDigital, Inc. (NASDAQ:IDCC) Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 35.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 18,727 shares of the Wireless communications provider's stock after acquiring an additional 4,865 shares during the period. InterDigital accounts for about 0.8% of Convergence Investment Partners LLC's holdings, making the stock its 28th biggest position. Convergence Investment Partners LLC owned 0.07% of InterDigital worth $3,628,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Congress Asset Management Co. purchased a new stake in shares of InterDigital in the fourth quarter valued at $62,583,000. Reinhart Partners LLC. grew its holdings in InterDigital by 83.8% in the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock valued at $69,785,000 after buying an additional 164,223 shares during the period. International Assets Investment Management LLC grew its holdings in InterDigital by 283,160.0% in the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider's stock valued at $16,047,000 after buying an additional 113,264 shares during the period. Emerald Advisers LLC increased its stake in shares of InterDigital by 50.3% during the 3rd quarter. Emerald Advisers LLC now owns 180,987 shares of the Wireless communications provider's stock valued at $25,633,000 after acquiring an additional 60,575 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of InterDigital by 28.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider's stock worth $30,420,000 after acquiring an additional 48,137 shares during the period. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Trading Down 2.6 %

NASDAQ:IDCC traded down $5.60 on Friday, hitting $211.40. 315,962 shares of the stock were exchanged, compared to its average volume of 395,578. The stock has a fifty day moving average of $191.85 and a 200-day moving average of $168.38. The stock has a market cap of $5.43 billion, a PE ratio of 17.56, a PEG ratio of 1.57 and a beta of 1.44. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $218.76.

InterDigital Increases Dividend

The firm 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. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 annualized dividend and a dividend yield of 1.14%. This is a positive change from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio is presently 14.95%.

Insider Activity

In other news, insider Eeva K. Hakoranta sold 350 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total value of $75,078.50. Following the completion of the sale, the insider now owns 30,537 shares of the company's stock, valued at $6,550,491.87. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total value of $129,500.00. Following the sale, the chief technology officer now owns 52,396 shares in the company, valued at approximately $9,693,260. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,134 shares of company stock valued at $4,678,770. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of InterDigital from a "buy" rating to a "hold" rating in a report on Monday, November 4th.

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.