Flagship Harbor Advisors LLC Invests $338,000 in InterDigital, Inc. (NASDAQ:IDCC)

Flagship Harbor Advisors LLC bought a new position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,746 shares of the Wireless communications provider's stock, valued at approximately $338,000.

Other institutional investors also recently modified their holdings of the company. Inspire Investing LLC raised its position in shares of InterDigital by 280.9% in the fourth quarter. Inspire Investing LLC now owns 11,039 shares of the Wireless communications provider's stock valued at $2,138,000 after purchasing an additional 8,141 shares during the period. Janney Montgomery Scott LLC increased its holdings in InterDigital by 187.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,388 shares of the Wireless communications provider's stock worth $1,819,000 after acquiring an additional 6,127 shares during the period. J2 Capital Management Inc purchased a new stake in InterDigital in the 4th quarter worth approximately $477,000. Merit Financial Group LLC grew its position in shares of InterDigital by 10.8% during the 4th quarter. Merit Financial Group LLC now owns 11,988 shares of the Wireless communications provider's stock valued at $2,322,000 after purchasing an additional 1,170 shares in the last quarter. Finally, Ritholtz Wealth Management grew its position in InterDigital by 13.2% during the fourth quarter. Ritholtz Wealth Management now owns 27,527 shares of the Wireless communications provider's stock worth $5,332,000 after buying an additional 3,205 shares in the last quarter. 99.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

InterDigital Stock Up 2.2 %

Shares of IDCC stock traded up $3.91 during mid-day trading on Thursday, reaching $184.05. 40,859 shares of the company's stock traded hands, compared to its average volume of 355,698. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $189.12 and its 200-day moving average price is $159.83. The company has a market cap of $4.66 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.97 and a beta of 1.44. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $207.08.

InterDigital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, January 8th. InterDigital's payout ratio is 19.23%.

Insider Activity at InterDigital

In other news, CEO Lawrence Liren Chen sold 5,891 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total value of $1,114,105.92. Following the completion of the sale, the chief executive officer now directly owns 158,652 shares in the company, valued at $30,004,266.24. This represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total value of $25,506.60. Following the transaction, the insider now owns 24,138 shares in the company, valued at $4,397,702.22. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,622 shares of company stock valued at $2,433,251. 2.30% of the stock is owned by insiders.

About InterDigital

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.