Harvest Fund Management Co. Ltd bought a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,925 shares of the Wireless communications provider's stock, valued at approximately $1,535,000.
Several other hedge funds have also recently added to or reduced their stakes in IDCC. Natixis Advisors LLC acquired a new position in shares of InterDigital during the third quarter valued at $1,427,000. Caprock Group LLC grew its position in InterDigital by 8.9% in the 3rd quarter. Caprock Group LLC now owns 3,156 shares of the Wireless communications provider's stock valued at $447,000 after buying an additional 257 shares in the last quarter. Moran Wealth Management LLC increased its stake in InterDigital by 37.9% during the 3rd quarter. Moran Wealth Management LLC now owns 3,956 shares of the Wireless communications provider's stock valued at $560,000 after buying an additional 1,087 shares during the period. Intech Investment Management LLC raised its position in shares of InterDigital by 658.8% during the 3rd quarter. Intech Investment Management LLC now owns 29,728 shares of the Wireless communications provider's stock worth $4,210,000 after buying an additional 25,810 shares in the last quarter. Finally, Icon Wealth Advisors LLC lifted its stake in shares of InterDigital by 161.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 9,140 shares of the Wireless communications provider's stock worth $1,294,000 after acquiring an additional 5,640 shares during the period. Institutional investors own 99.83% of the company's stock.
Insiders Place Their Bets
In other news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction 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 sale, the chief technology officer now owns 52,396 shares in the company, valued at approximately $9,693,260. This represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eeva K. Hakoranta sold 350 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total value of $75,078.50. Following the sale, the insider now directly owns 30,537 shares of the company's stock, valued at approximately $6,550,491.87. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,833 shares of company stock worth $2,954,830. 2.30% of the stock is owned by corporate insiders.
InterDigital Price Performance
Shares of InterDigital stock traded up $4.25 on Monday, hitting $221.60. The company had a trading volume of 202,973 shares, compared to its average volume of 413,759. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $231.97. The company has a market cap of $5.69 billion, a PE ratio of 18.41, a PEG ratio of 1.57 and a beta of 1.45. The business has a 50-day simple moving average of $199.97 and a 200-day simple moving average of $180.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70.
InterDigital Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 annualized dividend and a yield of 1.08%. This is a boost from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio (DPR) is currently 19.93%.
About InterDigital
(
Free Report)
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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