First Trust Advisors LP Has $20.01 Million Stake in InterDigital, Inc. (NASDAQ:IDCC)

First Trust Advisors LP grew its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 14.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 103,295 shares of the Wireless communications provider's stock after buying an additional 12,804 shares during the period. First Trust Advisors LP owned approximately 0.41% of InterDigital worth $20,010,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Congress Asset Management Co. acquired a new position in InterDigital in the 4th quarter valued at approximately $62,583,000. Reinhart Partners LLC. raised its stake in shares of InterDigital by 83.8% in the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock valued at $69,785,000 after purchasing an additional 164,223 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in InterDigital in the fourth quarter worth $19,572,000. Norges Bank bought a new position in InterDigital in the fourth quarter worth $17,387,000. Finally, Boston Partners boosted its stake in InterDigital by 5.5% during the fourth quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider's stock worth $311,654,000 after buying an additional 83,794 shares in the last quarter. Institutional investors own 99.83% of the company's stock.

Insiders Place Their Bets

In related news, CTO Rajesh Pankaj sold 700 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total transaction of $129,500.00. Following the completion of the transaction, the chief technology officer now owns 52,396 shares in the company, valued at $9,693,260. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joshua D. Schmidt sold 1,781 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $218.00, for a total value of $388,258.00. Following the completion of the sale, the insider now directly owns 24,395 shares in the company, valued at approximately $5,318,110. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,833 shares of company stock worth $2,938,660 over the last quarter. Company insiders own 2.30% of the company's stock.

InterDigital Trading Up 1.1 %

Shares of IDCC stock opened at $193.75 on Friday. The firm has a fifty day moving average of $206.51 and a 200-day moving average of $191.27. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a 52-week low of $97.51 and a 52-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 firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Wednesday, April 9th. This is a positive change from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio is 19.93%.

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.

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