InterDigital, Inc. (NASDAQ:IDCC) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC grew its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 15.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,878 shares of the Wireless communications provider's stock after acquiring an additional 4,101 shares during the quarter. Fred Alger Management LLC owned about 0.12% of InterDigital worth $4,373,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of IDCC. Pacer Advisors Inc. raised its position in shares of InterDigital by 51,337.0% in the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider's stock worth $86,635,000 after buying an additional 741,820 shares during the period. Reinhart Partners LLC. acquired a new position in shares of InterDigital in the 3rd quarter valued at about $27,762,000. Emerald Advisers LLC grew its holdings in shares of InterDigital by 127,997.9% during the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider's stock worth $14,035,000 after purchasing an additional 120,318 shares during the period. International Assets Investment Management LLC increased its position in InterDigital by 283,160.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider's stock worth $16,047,000 after purchasing an additional 113,264 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in InterDigital by 473.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider's stock valued at $11,244,000 after buying an additional 79,648 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Down 0.2 %

NASDAQ IDCC traded down $0.47 on Friday, reaching $195.96. The company had a trading volume of 168,278 shares, compared to its average volume of 363,141. The firm has a market capitalization of $4.97 billion, a PE ratio of 20.94, a P/E/G ratio of 0.82 and a beta of 1.38. The firm has a 50-day moving average of $162.85 and a 200-day moving average of $137.94. InterDigital, Inc. has a 1 year low of $95.33 and a 1 year high of $199.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.92%. This is a positive change from InterDigital's previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital's dividend payout ratio (DPR) is presently 19.23%.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $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 three months, insiders sold 3,340 shares of company stock valued at $472,253. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IDCC. StockNews.com downgraded shares of InterDigital from a "buy" rating to a "hold" rating in a research note on Monday, November 4th. Roth Mkm increased their price target on InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, September 11th.

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.